Divgi Torqtransfer Systems raises Rs 185.45 crore via anchor book; IPO opens today

1 Mar 2023 , 09:04 AM

Divgi Torqtransfer Systems, an auto component manufacturer has raised Rs 185.45 crore through anchor book ahead of initial public offer on February 28. 

As per the company’s filing to exchanges, it has allotted 31.43 lakh equity shares to 12 anchor investors. Anchor investors include ICICI Prudential Mutual Fund, Nippon Life India, Quant Mutual Fund, Edelweiss Trusteeship, Motilal Oswal Mutual Fund, Aditya Birla Sun Life Insurance Company, Matthews Asia Funds, Aurigin Master Fund and Bengal Finance and Investment.

The company said in its filing that, “in consultation with merchant bankers, we have finalised allocation of 31.43 lakh shares to anchor investors at anchor investor allocation price of Rs 590 per share.”

It added, “Five mutual funds through a total of 8 schemes have invested Rs 143.99 crore via anchor book, in the company.”

Divgi Torqtransfer Systems IPO opens for subscription today on March 1 and will conclude on March 3. The company plans to raise Rs 412 crore via public issue, at the higher end of the price band of Rs 560- Rs 590 per share. Click here to subscribe in the IPO.