Bookbuilding IPO | ₹412 Cr | Listed at BSE, NSE | Wed, Mar 1, 2023 - Fri, Mar 3, 2023
Divgi TorqTransfer Systems IPO is a book build issue of ₹412.12 crores. The issue is a combination of fresh issue of 0.31 crore shares aggregating to ₹180.00 crores and offer for sale of 0.39 crore shares aggregating to ₹232.12 crores.
Divgi TorqTransfer Systems IPO bidding started from Mar 1, 2023 and ended on Mar 3, 2023. The allotment for Divgi TorqTransfer Systems IPO was finalized on Mar 9, 2023. The shares got listed on BSE, NSE on Mar 14, 2023.
Divgi TorqTransfer Systems IPO price band is set at ₹590 per share. The lot size for an application is 25. The minimum amount of investment required by an retail is ₹14,750 (25 shares) (based on upper price). The lot size investment for sNII is 14 lots (350 shares), amounting to ₹2,06,500, and for bNII, it is 68 lots (1,700 shares), amounting to ₹10,03,000.
Inga Ventures Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Divgi TorqTransfer Systems IPO RHP for detailed Information.
IPO Open
Wed, Mar 1, 2023
IPO Close
Fri, Mar 3, 2023
Issue Price
₹590 per share
Market Cap (Pre-IPO)
₹1,804.39 Cr
| IPO Date | 1 to 3 Mar, 2023 |
| Listed on | Tue, Mar 14, 2023 |
| Face Value | ₹5 per share |
| Price Band | ₹560 to ₹590 |
| Issue Price | ₹590 per share |
| Lot Size | 25 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 69,85,090 shares (agg. up to ₹412 Cr) |
| Fresh Issue | 30,50,847 shares (agg. up to ₹180 Cr) |
| Offer for Sale | 39,34,243 shares of ₹5 (agg. up to ₹232 Cr) |
| Share Holding Pre Issue | 2,75,32,080 shares |
| Share Holding Post Issue | 3,05,82,927 shares |
| BSE Script Code / NSE Symbol | 543812 / DIVGIITTS |
| ISIN | INE753U01022 |
Divgi TorqTransfer Systems IPO offers total 69,85,090 shares. Out of which 52,38,818 (75.00%) allocated to QIB, 20,95,528 (30.00%) allocated to QIB (Ex- Anchor), 10,47,763 (15.00%) allocated to NII 6,98,509 (10.00%) allocated to RII and 31,43,290 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 52,38,818 (75.00%) | NA |
| − Anchor Investor Shares Offered | 31,43,290 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 20,95,528 (30.00%) | NA |
| NII (HNI) Shares Offered | 10,47,763 (15.00%) | NA |
| − bNII > ₹10L | 6,98,508 (10.00%) | 1,995 |
| − sNII < ₹10L | 3,49,255 (5.00%) | 997 |
| Retail Shares Offered | 6,98,509 (10.00%) | 27,940 |
| Total Shares Offered | 69,85,090 (100.00%) |
Investors can bid for a minimum of 25 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 25 | ₹14,750 |
| Retail (Max) | 13 | 325 | ₹1,91,750 |
| S-HNI (Min) | 14 | 350 | ₹2,06,500 |
| S-HNI (Max) | 67 | 1,675 | ₹9,88,250 |
| B-HNI (Min) | 68 | 1,700 | ₹10,03,000 |
Divgi TorqTransfer Systems IPO raises ₹185.45 crore from anchor investors. Divgi TorqTransfer Systems IPO Anchor bid date is February 28, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Feb 28, 2023 |
| Shares Offered | 31,43,290 |
| Anchor Portion (₹ Cr.) | 185.45 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Apr 8, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Jun 7, 2023 |
Incorporated in 1964, Divgi TorqTransfer Systems Limited is engaged in the business as an automotive component entity. They are among the very few automotive component entities in India with the capability to develop and provide system-level transfer cases, torque couplers, and dual-clutch automatic transmission solutions.
Divgi TorqTransfer is one of the leading players supplying transfer case systems to automotive OEMs in India and the largest supplier of transfer case systems to passenger vehicle manufacturers in India. Not only thi are also the only player manufacturing and exporting transfer cases to global OEMs from India, and the only manufacturer of torque couplers in India.
Divgi TorqTransfer Systems Limited manufactures and supplies its products under a wide range which includes-
Alongside, they have also developed
Divgi TorqTransfer Systems Limited also takes pride in being among the few companies that serve as both, systems-level solution providers and component kit suppliers to global OEMs and Tier I transmission systems suppliers.
| Period Ended | 30 Sep 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 430.21 | 405.37 | 362.88 | 303.70 |
| Total Income | 137.55 | 241.87 | 195.03 | 170.74 |
| Profit After Tax | 25.66 | 46.15 | 38.04 | 28.04 |
| NET Worth | 356.20 | 340.02 | 295.88 | 209.53 |
| Reserves and Surplus | 342.44 | 326.25 | 288.99 | 203.51 |
| Total Borrowing | 0.50 | 0.12 | 0.26 | 50.41 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipments/machineries of our manufacturing facilities | 150.71 |
| 2 | General corporate purposes | 17.73 |
| KPI | |
|---|---|
| ROE | 14.52 |
| ROCE | 29.47 |
| Debt/Equity | 0.00 |
| RoNW | 13.57 |
| PAT Margin | 19.08% |
| EBITDA Margin | 28.07% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 16.76 | |
| P/E (x) | 35.16 | |
| Promoter Holding | 67.18% | |
| Market Cap | ₹1,804.39 Cr. |
The Divgi TorqTransfer Systems IPO is subscribed 5.44 times on March 3, 2023 7:00:00 PM (Day 3). The public issue subscribed 4.31 times in the retail category, 7.83 times in the QIB category, and 1.4 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 7.83 | 20,95,528 | 1,64,16,050 |
| NII | 1.4 | 10,47,763 | 14,62,850 |
| bNII (bids above ₹10L) | 0.89 | 6,98,508 | 6,22,525 |
| sNII (bids below ₹10L) | 2.41 | 3,49,255 | 8,40,325 |
| Retail | 4.31 | 6,98,509 | 30,09,025 |
| Total | 5.44 | 38,41,800 | 2,08,87,925 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLM’s fees and commissions (including underwriting commission, brokerage and selling commission) | 13.04 |
| 2 | Selling commission/processing fee for SCSBs, Banker(s) to the Offer, Sponsor Bank(s) and fee payable to the Sponsor Bank(s) for Bids made by RIBs | 1.38 |
| 3 | Brokerage and selling commission and bidding charges for members of the Syndicate (including their sub-Syndicate Members), Registered Brokers, RTAs and CDPs | |
| 4 | Fees payable to the Registrar to the Offer | 0.04 |
| 5 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 1.91 |
| 6 | Printing and stationery | 0.72 |
| 7 | Advertising and marketing expenses | 2.68 |
| 8 | Fee payable to legal counsels, independent chartered accounts, independent chartered engineers | 4.75 |
| 9 | Miscellaneous | 0.43 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹590.00 | ₹590.00 |
| Open | ₹600.00 | ₹620.00 |
| Low | ₹557.20 | ₹560.00 |
| High | ₹615.75 | ₹620.00 |
| Last Trade | ₹605.15 | ₹605.20 |
Lead Manager Reports
Divgi TorqTransfer Systems IPO is a main-board IPO of 69,85,090 equity shares of the face value of ₹5 aggregating up to ₹412 Crores. The issue is priced at ₹590 per share. The minimum order quantity is 25.
The IPO opens on Wed, Mar 1, 2023, and closes on Fri, Mar 3, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Divgi TorqTransfer Systems IPO using UPI as a payment gateway. Zerodha customers can apply in Divgi TorqTransfer Systems IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Divgi TorqTransfer Systems IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Divgi TorqTransfer Systems IPO opens on Wed, Mar 1, 2023 and closes on Fri, Mar 3, 2023.
Divgi TorqTransfer Systems IPO lot size is 25, and the minimum amount required for application is ₹14,750.
You can apply in Divgi TorqTransfer Systems IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Divgi TorqTransfer Systems IPO will be done on Thursday, March 9, 2023, and the allotted shares will be credited to your demat account by Mon, Mar 13, 2023. Check the Divgi TorqTransfer Systems IPO allotment status.
The Divgi TorqTransfer Systems IPO listing date is on Tue, Mar 14, 2023.
