Divgi TorqTransfer Systems Rs 412-crore IPO opens tomorrow; 10 things to know

Divgi TorqTransfer Systems Rs 412-crore IPO opens tomorrow; 10 things to know

IPO



Automotive component maker Divgi TorqTransfer Systems will become the first company to launch its initial public offering (IPO) in 2023 when the issue will open for subscription on March 1.

Here are 10 key things to know before subscribing to the public offer:

1) IPO Dates

The offer will open for subscription on March 1 and the last day for bidding will be March 3. The anchor portion, a part of qualified institutional buyers, will open for a day on February 28.

2) Price Band

The price band for the offer has been fixed at Rs 560-590 a share.

3) Offer Size

Divgi is planning to mobilise more than Rs 412 crore via the public issue, which comprises a fresh issuance of shares worth Rs 180 crore and an offer for sale (OFS) of 39.34 lakh shares by holders.

Oman India Joint Investment Fund II, NRJN Family Trust, Bharat Bhalchandra Divgi, Sanjay Bhalchandra Divgi, Ashish Anant Divgi, Arun Ramdas Idgunji, and Kishore Mangesh Kalbag are the selling shareholders.

4) Objects of Offer

The fresh issue proceeds will be used to purchase equipment besides general corporate purposes, while the offer for sale money will go to the selling shareholders.

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5) Lot Size

Investors can