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News Details

27/02/2023 15:00

Divgi Torqtransfer announces launch of initial public offering

Divgi Torqtransfer Systems Ltd. has announced public offering of 6685091 shares at a price of Rs 5.00 each for Cash at a Premium of Rs 585.00 per share. The gross proceeds of the issue are expected to be Rs 39,442.04 lakhs.

The company's initial public offer (IPO) will open on 01 March 2023 and is expected to close on 03 March 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 560.00-590.00 per share.

The IPO includes a fresh Issue of 6685091 Equity Shares of the Company at an price of Rs 590.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 25 shares with bids in multiples of 25.

Divgi Torqtransfer Systems Ltd. anticipates using the proceeds of the issue for .

Equirus Capital Private Limited,Inga Ventures Pvt. Ltd. as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.