The initial share offering of Divgi TorqTransfer Systems has been fully subscribed on day 3 of the offer. The issue was subscribed 5.39 times by 04.10 PM on March 3.
The retail portion was subscribed 4.08 times, while non-institutional investors (NIIs) made bids for 1.37 times of the reserved part. Qualified Institutional Buyers (QIBs) was subscribed 7.83 times of the reserved portion.
The Initial Public Offering (IPO) has a fresh issue aggregating up to Rs 180 crore and offer of sale of up to 39,34,243 equity shares. The price band is Rs 560-590 per share.
Divgi TorqTransfer Systems on Tuesday said it has raised more than Rs 185 crore from anchor investors.
Inga Ventures and Equirus Capital are the managers to the offer.
Shares of the company will be listed on March 14 on the BSE and NSE.
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