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Divgi TorqTransfer Systems sets IPO price band at Rs 560-590 per share

The IPO will open on Wednesday and conclude on Friday

Jitendra Divgi, MD, Divgi Torq Transfer Systems Ltd and Hirendra Divgi,  Whole time Director, Divgi Torq Transfer Systems Ltd during an IPO Press Conference in Mumbai on Monday 27th February 2023
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Jitendra Divgi, MD, Divgi Torq Transfer Systems Ltd and Hirendra Divgi, Whole time Director, Divgi Torq Transfer Systems Ltd during an IPO Press Conference in Mumbai on Monday 27th February 2023 (Photo: Kamlesh Pednekar)

BS Reporter Mumbai
Pune-based auto component manufacturer Divgi TorqTransfer Systems has priced its initial public offering (IPO) between Rs 560 to Rs 590 per share. The IPO will open on Wednesday and conclude on Friday.
 
 The IPO comprises a fresh issue of Rs 180 crore and an offer for the sale of up to Rs 232 crore by Oman India Joint Investment Fund and Nandan Nilekani ( Family Trust.

At the upper end of the price band, the issue could raise up to Rs 412 crore.  
 
The company plans to utilise the net proceeds of the fresh issue for funding capital expenditure requirements,

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First Published: Feb 27 2023 | 8:36 PM IST

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