Divgi TorqTransfer Systems IPO concludes with 5.4 times subscription - check out the Divgi listing date here
Divgi TorqTransfer Systems IPO: Shares in Pune-based Divgi TorqTransfer are available for bidding in a price band of Rs 560-590 apiece for one more day, on March 3. Potential investors can bid for the Divgi shares in multiples of 25, which translates to Rs 14,000-14,750 per lot.
Divgi TorqTransfer Systems IPO: The initial public offer of auto component maker Divgi TorqTransfer Systems to raise up to Rs 412 crore concluded on Friday with an overall subscription of 5.4 times the shares on offer. Divgi TorqTransfer shares are likely to be listed on stock exchanges BSE and NSE on March 14.
Divgi TorqTransfer Systems IPO: Subscription status
By the end of Friday's session, the Divgi TorqTransfer IPO received bids for a total of 2.1 crore shares, making a total subscription of 5.4 times the total 38.4 lakh shares on offer, according to provisional exchange data.
| Category | Subscription | Portion reserved |
| Qualified institutional buyers | 7.8x | 75% |
| Non institutional investors | 1.4x | 15% |
| Retail investors | 4.3x | 10% |
| Total | 5.4x |
Editor's Take | Anil Singhvi says subscribe for long term
Zee Business Managing Editor Anil Singhvi recommended subscribing to the IPO for the long term. However, he suggested investors to subscribe in small quantities and add more of Divgi shares in their portfolio if the listing takes place below the issue price.
Divgi TorqTransfer Systems IPO: Issue price, lot size and other details potential investors must know
Shares in Pune-based Divgi TorqTransfer were available for bidding in a price band of Rs 560-590 apiece under the IPO, which comprised fresh issuance, and an offer for sale (OFS) by existing shareholders.
Potential investors could bid for the Divgi shares in multiples of 25 — which translates to Rs 14,000-14,750 per lot.
Divgi TorqTransfer IPO: Listing date and other important dates
The basis of allotment is likely to be finalised on March 9, the initiation of refunds on March 10 and the credit of shares on March 13.
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