Divgi TorqTransfer IPO: Fully Subscribed On Last Day, Check GMP, Listing Date

Divgi TorqTransfer opened for bidding on March 1 and has been seeing overwhelming interest from retail investors, however, institutional investors did not seem as keen.

What Happened: The auto component maker’s ₹412 crore IPO was fully subscribed on the last day of bidding. The retail segment saw the most interest as the portion was subscribed 2.75 times. Non-institutional investors (NIIs) portion was subscribed to 57% of the reserved part while the Qualified Institutional Buyers (QIBs) portion was subscribed up to 69% by around 2 p.m. today. Overall the IPO was subscribed 1.03 times.

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Analysts On Divgi TorqTransfer IPO

The Pune-based company had fixed the IPO price band at ₹560-₹590 and the lot size was kept at 25 shares. The Nandan Nilekani-backed company mostly received favourable views from brokerages.

ICICI Direct assigned a ‘subscribe for long term’ rating for the IPO stating that it liked the company’s “technical prowess in transmission space & incremental revenue streams coming on board going forward in EV transmission as well as Dual Clutch transmission space.” The IPO also received a ‘long term subscribe’ rating from Hem Securities.

Divgi TorqTransfer IPO GMP Today

According to market observers, the grey market premium – that gives an idea about the stock’s demand – was at ₹70 up from yesterday’s ₹60. However, market experts do emphasise that GMP is not an official/ideal gauge of the stock’s performance but a mere indicator.

Divgi TorqTransfer IPO Allotment And Listing Date

The IPO allotment is scheduled for March 9 and the listing is scheduled on March 14. Investors can check their allotment status on the official website of the IPO’s registrar, which in this case is, Link Intime. Besides, IPO bidders can also check the status on the BSE website — bseindia.com.

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