If you want to earn by betting on Initial Public Offer, i.e. IPO, then there is an opportunity for you. Auto component maker Divgi TorqTransfer Systems’ IPO opens on March 1, 2023. The last day of the IPO of this company is March 3. At the same time, anchor investors can place bids on February 28.
IPO Details
According to the Red Herring Prospectus (RHP), the IPO will consist of a fresh issue of equity shares of up to Rs 180 crore by investors and other selling shareholders. Apart from this, 39,34,243 equity shares will be sold through an offer for sale. Under the offer for sale, Oman India Joint Investment Fund, NRJN Family Trust, Bharat Bhachandra Divgi, Sanjay Bhalchandra Divgi, Ashish Anant Divgi, Arun Ramdas Idgunji and Kishore Mangesh Kalbag will sell their shares.
Whose Share How Much
Explain that Oman India has a 21.71 per cent stake in Divgi TorqTransfer Systems, while NRJN has an 8.71 per cent stake. Bharat Divgi, Sanjay Diggi and Ashish Divgi hold 0.72 per cent, 0.59 per cent and 0.76 per cent, respectively. Apart from this, Arun Idgunji and Kishore Kalbagh have a 0.16 per cent stake.
Tata is Company’s Customers
The customers of this auto parts company include Tata Group companies Tata Motors, Mahindra & Mahindra and Toyota Kirloskar. The company manufactures Manual Transmissions, DCTs, Transfer Cases, Torque Couplers, Auto-Locking Hubs (ALH), etc.
The company primarily caters to the passenger and small commercial vehicle industry. The company has manufacturing plants at Bhosari in Pune, Shivre and Sirsi in Karnataka. Inga Ventures and Equirus Capital are the book-running lead managers for the issue. The Equity Shares are proposed to be listed on BSE and NSE.
