Check live subscription status of Divgi TorqTransfer Systems IPO on day 1

1 Mar 2023 , 03:36 PM

Divgi TorqTransfer Systems’ initial public offering (IPO) aims to raise Rs 412 crore through the issue. It mobilised Rs 185.45 crore via anchor book on February 28. The offer comprises a fresh issuance of shares worth Rs 180 crore and an offer for sale of 39.34 lakh shares by non-promoters. Click here to apply for the IPO.

The company has received bids for 3,17,025 equity shares against an offer size of 38,41,800 amounting to 8% subscription at 3.30 PM of March 1, the first day of bidding.

Retail investors bid for 2,88,475 shares of the total portion set aside for them in the first IPO of 2023. High networth individuals (HNIs) bid for of the 28,200 shares reserved for them.

Bidding was yet to begin for the portion set aside for qualified institutional buyers.

The company has reserved 75% of the IPO for qualified institutional buyers, 15% for HNIs and the remaining 10% for retail investors.