Divgi Torque Transfer Systems IPO On March 1

Kochi: Divgi TorqueTransfer Systems Limited is one of the few companies in the country that manufactures electric and mechanical transmissions and develops system level transfer case, torque coupler, dual-clutch transmission solutions etc. The company’s initial public offering (IPO) will be held from March 1 to 3.

The IPO consists of new equity shares worth Rs 180 crore and offer for sale of 39,34,243 equity shares. The price band has been fixed at Rs 560 to Rs 590 per share of Rs 5 face value. A minimum of 25 equity shares and multiples thereof can be applied for. The shares will be listed on NSE and BSE.

Investors can apply for a minimum of 25 equity shares in each lot priced at Rs 14,750. The issue can be subscribed till Friday, March 3, 2023. Shares will be available to anchor investors from February 28. The company is likely to be listed on March 14, 2023. The net proceeds from the issue will be utilized for expansion of production facilities, purchase of machinery and corporate purposes.

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