Divgi TorqTransfer IPO: Retail portion subscribed fully on day 2; Check live subscription status

2 Mar 2023 , 03:53 PM

Divgi TorqTransfer IPO has been fully subscribed by retail investors even when the qualified institutional buyers (QIBs) and non-institutional investors (NIIs) has lagged behind. Click here to subscribe the IPO.

On day 2, the IPO was subscribed 32% so far by 3.45 PM, with retail portion bid for 1.33 times and NII portion subscribed by 0.17 times. While the Qualified Institutional Buyers (QIBs) place bid for 0.06 times of shares.

Divgi TorqTransfer, an auto components maker has fixed a price band of Rs 560-590 a share. The company will raise Rs 412 crore on the upper price band. The shares are expected to get listed on the exchanges on March 14.

The net proceeds from the fresh issue will be used towards funding capital expenditure requirements for the purchase of equipment for its manufacturing facilities and general corporate purposes.

It is an automotive component entity, developing and provide system-level transfer case, torque coupler, and Dual Clutch Automatic Transmission (DCT) solutions. It has three manufacturing and assembling facilities located across India.