Divgi TorqTransfer Systems shares make tepid stock market debut, list at 5% premium on NSE
Divgi TorqTransfer Systems Share Price Listing: Divgi TorqTransfer Systems IPO made its stock market debut on Tuesday on a muted note. The shares got listed at a premium of 5.08 per cent or at Rs 620 on NSE over the issue price of Rs 590. The Pune-based auto component manufacturer debuted flat at Rs 600 on BSE. Zee Business Managing Editor Anil Singhvi had predicted that shares of Divgi TorqTransfer Systems will list at a premium of 5-10 per cent and suggested keeping a stop loss at the issue price for short-term investors. Divgi TorqTransfer Systems IPO consisted of both a fresh issue of equity shares worth Rs 180 crore and an offer-for-sale (OFS) of 39.34 lakh shares where promoters and other existing investors offload stake. The company had priced its IPO between Rs 560 and Rs 590 per share. The allotment of shares was done at Rs 590 per share, raising around Rs 412 crore.
Divgi TorqTransfer Systems Share Price Listing: Divgi TorqTransfer Systems IPO made its stock market debut on Tuesday on a muted note. The shares got listed at a premium of 5.08 per cent or at Rs 620 on NSE over the issue price of Rs 590. The Pune-based auto component manufacturer debuted flat at Rs 600 on BSE. Zee Business Managing Editor Anil Singhvi had predicted that shares of Divgi TorqTransfer Systems will list at a premium of 5-10 per cent and suggested keeping a stop loss at the issue price for short-term investors. Divgi TorqTransfer Systems IPO consisted of both a fresh issue of equity shares worth Rs 180 crore and an offer-for-sale (OFS) of 39.34 lakh shares where promoters and other existing investors offload stake. The company had priced its IPO between Rs 560 and Rs 590 per share. The allotment of shares was done at Rs 590 per share, raising around Rs 412 crore.
Latest Updates
Divgi TorqTransfer shares erase gains after positive start
At 10:15, shares of Divgi Torqtransfer Systems traded in red at Rs 568 0n NSE, down by 3.45 per cent. On BSE, shares quoted at Rs 565 apiece, down by nearly 5 per cent.
Divgi TorqTransfer Share Price Listing
Divgi TorqTransfer shares made a flat stock market debut today. On NSE, the shares list at a premium of 5 per cent at Rs 620. ON BSE, shares got listed at a premium of 1 per cent at Rs 600 over the issue price of Rs 590.
Divgi TorqTransfer Systems Share Price Listing Pre-Open
Divgi IPO Listing
According to exchange data, in response to the Rs 412 crore offer, which had 38,41,800 shares available and a price range of 560-590 per share, bids were received for 2,08,87,225 shares. Ahead of IPO, Divgi raised over Rs 185 crore from anchor investors.
Divgi TorqTransfer Systems share price listing forecast by Anil Singhvi
Zee Business Managing Editor Anil Singhvi has predicted that shares of Divgi TorqTransfer Systems could list at a premium of 5-10 per cent. He said that short-term investors should maintain a stop loss at Rs 590 (issue price).
Divgi TorqTransfer Systems Share Price NSE Listing Time
Divgi TorqTransfer Systems' share price listing will take place today. The special pre open session will commence at 9:45 AM while trading in shares of the company will start at 10 AM.
Divgi TorqTransfer Systems IPO
The Pune-based company has said proceeds from the IPO will be used for capital expenditure requirements towards the purchase of equipment for its manufacturing facilities. Divgi TorqTransfer Systems supplies parts to Mahindra & Mahindra, Tata Motors and Toyota Kirloskar Auto Parts and others. It has three manufacturing and assembling facilities located across India.
Divgi TorqTransfer Systems IPO details
The IPO comprises a fresh issue of Rs 180 crore and an offer for the sale of up to Rs 232 crore by Oman India Joint Investment Fund and Nandan Nilekani (Family Trust).
About Divgi TorqTransfer Systems
Divgi TorqTransfer supplies transfer case systems to automotive Original Equipment Manufacturing (OEMs) in India and is the largest supplier of transfer case systems to passenger vehicle manufacturers in India. The company also exports manufactured transfer cases to global OEMs and is the only manufacturer of torque couplers in India.
Divgi TorqTransfer Systems IPO review by Anil Singhvi
Zee Business Managing Editor Anil Singhvi in his review of Divgi TorqTransfer Systems IPO recommended subscribing to the public issue for the long term. He, however, suggested that investors should subscribe in less quantity and add if the listing takes place below the issue price. READ MORE
Divgi TorqTransfer Systems IPO subscription
The Rs 412-crore initial public offering (IPO) offered its shares in the range of Rs 560-590 apiece, comprising 25 shares in each lot. Retail investors allocation fetched 4.31 times bidding. Divgi IPO was subscribed by QIIs 7.83 times. The quota for non-institutional bidders was booked 1.4 times.
Divgi TorqTransfer Systems shares listing time on NSE, BSE
Shares of Divgi TorqTransfer Systems will list on NSE and BSE today. The listing will take place at 10 AM. The IPO of the automotive components manufacturer Divgi TorqTransfer Systems opened on March 1 and concluded on March 3 with a subscription of 5.44 times. The issue price for Divgi TorqTransfer Systems was set at Rs 560-590 apiece.