Divgi TorqTransfer Systems IPO GMP, Price, Dates & Allotment Details 2023
The Divgi TorqTransfer Systems IPO opens on March 1 and closes on March 3, 2023. According to the DRHP filed in SEBI, the company is planning to fresh issue of shares of ₹ 180 crore through this public issue.
Incorporated in 1964. company engaged in the manufacture and supply of a variety of products under the broad categories of
- Torque transfer systems (four-wheel-drive (4WD) and all-wheel-drive (AWD) vehicles);
- Manual transmission and DCT synchronizer systems; and
- components for the aforementioned product categories of EVs, DCTs, and torque transfer systems and synchronizer systems.
Company has also evolved
- Transmission systems for EVs;
- DCT systems, and
- rear-wheel drive manual transmissions
Company is one of the few companies that serves both as a systems-level solution provider as well as a component kit supplier to global OEMs and Tier I transmission systems suppliers (source: CRISIL Report).
The company has an in-house software development capability that helps in providing system-level solutions by offering software that controls the vehicle dynamics. They are also one of the first few suppliers of steel and carbon-based synchronizer systems for the Indian market and are one of the leading manufacturers of steel synchronizers in India (source: CRISIL Report).
Noteworthy Highlight
- The company is amongst the very few automotive component entities in India that have the capability to develop and provide system-level transfer cases, torque couplers, and dual clutch automatic transmission (“DCT”) solutions (source: CRISIL Report).
- It is one of the top suppliers of transfer case systems to Indian automotive OEMs and the biggest provider of transfer case systems to Indian manufacturers of passenger vehicles (source: CRISIL Report).
- The company is also the only player manufacturing and exporting transfer cases to global OEMs from India and the only manufacturer of torque couplers in India (Source: CRISIL Report).
- Moreover, Divgi TorqTransfer Systems Ltd. has the capacity to create and offer electric vehicle transmission systems (“EVs”).
Objects of the Issue
The company proposes to utilize the net proceeds of the Fresh Issue towards funding the following objects:
- Funding capital expenditure requirements for the purchase of equipment/machineries of our manufacturing facilities;
- General corporate purposes.
Financial Highlights (Restated)
| Particulars | Period ended on 30th Sep. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 356.20 | 340.02 | 295.88 | 209.53 |
| Total Assets | 430.21 | 405.37 | 362.88 | 303.70 |
| Total Borrowings | 0.50 | 0.12 | 0.26 | 50.41 |
| Total Revenue | 137.55 | 241.87 | 195.03 | 170.74 |
| Profit After Tax | 25.66 | 46.15 | 38.04 | 28.04 |
Divgi TorqTransfer Systems IPO – Details
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 560 to ₹ 590 per share |
| Face Value | ₹ 5 per share |
| Market Lot | 25 Shares |
| Issue Size | – |
| Fresh Issue | [.] shares of ₹ 5 (Aggregating up to ₹ 180 Crore) |
| Offer for Sale | 3,934,243 shares of ₹ 5 (Aggregating up to ₹ [.] Crore) |
| QIB Shares Offered | Not less than 75% of the Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Offer |
| Retail Shares Offered | Not more than 10% of the Offer |
| Listing At | NSE, BSE |
| Company Promoters | Jitendra Bhaskar Divgi, Hirendra Bhaskar Divgi Divgi Holdings Private Limited |
GMP – Divgi TorqTransfer Systems IPO
Divgi TorqTransfer Systems’ IPO GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilize after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates – Divgi TorqTransfer Systems IPO
The issue opens for subscription on March 1, 2023, and closes for subscription on March 3, 2023 (both days inclusive). The basis of allotment will be finalized on March 9th, 2023, and the refunds will be initiated on March 10th, 2023. In addition, the demat credits are expected to happen on March 13, 2023, and the stock will list on March 14, 2023, on the NSE SME segment.
| Opening Date | March 1, 2023 |
| Closing Date | March 3, 2023 |
| Basis of Allotment | March 9, 2023 |
| Initiation of Refunds | March 10, 2023 |
| Credit of shares to Demat A/c | March 13, 2023 |
| Listing Date | March 14, 2023 |
Lot Size – Divgi TorqTransfer Systems IPO
The lot size of the Divgi TorqTransfer Systems IPO is 25 shares. A retail-individual investor can apply for up to 13 lots, i.e. 325 shares of ₹ 191,750.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 25 | ₹ 14,750 |
| Retail (Maximum) | 13 | 325 | ₹ 191,750 |
| HNI (Minimum) | 14 | 350 | ₹ 206,500 |
| B-HNI (Minimum) | 68 | 1,700 | ₹ 1,003,000 |
Promoters Holdings – Divgi TorqTransfer Systems IPO
| Pre-issue Shares Holdings | 67.18% |
| Post-issue Shares Holdings | – |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Divgi TorqTransfer Systems Limited Plot No. 75, General Block, MIDC Bhosari, Pune 411026 Phone: +91 020 – 27302000 Email: [email protected] Website: http://www.divgi-tts.com/ |
| IPO Registrar | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: [email protected] Website: https://linkintime.co.in/ |
| IPO Lead Manager(s) | Inga Ventures Pvt Ltd Equirus Capital Private Limited |
FAQ’s
When will Divgi TorqTransfer Systems Ltd. IPO allotment available?
The finalisation of the basis of allotment for the Divgi TorqTransfer Systems Ltd. IPO will be done on March 9, 2023, and the allotted shares will be credited to your demat account by March 13, 2023. Check the Divgi TorqTransfer Systems Ltd. IPO allotment status.
When will Divgi TorqTransfer Systems Ltd. IPO list on exchanges?
The Divgi TorqTransfer Systems Ltd. IPO shares listing date is March 14, 2023.
Thank you for being of assistance to me. I really loved this article.