The company’s share allocation is scheduled to be completed by March 9, and it will make its market debut on March 14.
On March 3, the initial public offering (IPO) of Divgi TorqTransfer Systems, a manufacturer of automotive components, closed with bids for 2.08 crore equity shares, exceeding the offer size of 38.41 lakh.
Qualified institutional buyers (QIBs) showed a great deal of interest in the IPO, which was subscribed 5.44 times, purchasing 7.83 times their quota of shares over the three-day bidding process.
High net worth people bid 1.4 times their permitted quota, while retail investors bid 4.31 times their share.
The IPO, which was the first of 2023, included a new issue of shares for Rs 180 crore and a non-promoter offer to sell shares worth Rs 232.12 crore. The Rs 560–590 pricing range for the deal was established.
Divgi, a supplier of torque couplers, dual-clutch automatic transmission systems, and system-level transfer cases to the automobile industry, is anticipated to complete the share distribution by March 9.
On March 14, the firm will launch on the market.
