Allied Blenders and Divgi Torqtransfer Systems gets SEBI nod to launch IPOs

22 Dec 2022 , 09:37 AM

Two companies, Allied Blenders and Distillers Ltd, the maker of Officer’s Choice Whisky and automotive component firm Divgi Torqtransfer Systems has received green light from SEBI to go ahead with the initial public offers. 

As per draft papers of Allied Blenders and Distillers, the initial public offer (IPO) consists of fresh issue of equity shares worth Rs 1,000 crore and an Offer For Sale (OFS) to the tune of Rs 1,000 crore by promoter and promoter group entity. The proceeds from the fresh issue will be used to pay debt and other general corporate purposes.

ICICI Securities, Axis Capital, JM Financial, Kotak Investment Banking and Equiras Capital are the merchant bankers of Allied Blenders and Distillers IPO.

As per DRHP of Divgi Torqtransfer Systems, the IPO consists of fresh issue of equity shares worth Rs 200 crore and an offer for sale of up to 31,46,802 equity shares by investors and other selling shareholders.

The company will use proceeds from the fresh issue for funding capital expenditure requirements for the purchase of equipment for its manufacturing facilities and general corporate purposes.

Equiras Capital and Inga Ventures are the book running lead managers handling the IPO.