Divgi TorqTransfer Systems IPO share allotment- Check status online, grey market premium; listing on 14 March

Divgi TorqTransfer Systems IPO share allotment: Check status online, grey market premium; listing on 14 March

Divgi TorqTransfer Systems’ Rs 412 crore IPO concluded on 3 March and was subscribed 5.44 times after receiving healthy interest from all categories of investors. The price band for the IPO has been fixed at Rs 560-590 a share. Meanwhile, the share allotment will be finalized by the company this week on Thursday, while refunds will be initiated tomorrow, 10 March. IPO investors can check their share allotment status online through either BSE website or the IPO registrar, Link Intime India’s portal. Ahead of share allotment, Divgi TorqTransfer Systems IPO shares are commanding a grey market premium of Rs 23 today, down from the GMP of Rs 70 on 5 March.

Ahead of the IPO, the company raised Rs 185 crore from anchor investors. At the upper end of the price band, the public issue is expected to fetch Rs 412 crore. The maximum number of shares a retail investor can bid for is 13 lots comprising 325 shares, amounting to Rs 1,91,750. The shares of the company are expected to list on the stock exchanges BSE and NSE on Tuesday, 14 March 2023. Analysts have advised investors to subscribe to the issue. “We assign SUBSCRIBE for long term rating on DTS given that our bet is on future growth trajectory at the company as trailing valuations discount much of its healthy financial profile,” said Choice Broking in a report.

Check Divgi TorqTransfer Systems share allotment status via BSE website

Another way to check the allotment status in Divgi TorqTransfer Systems is through the BSE website. Select ‘equity’ as the issue type, and ‘Divgi TorqTransfer Systems’ as the issue name from the drop-down list, when it gets declared. Enter the application number and PAN (permanent account number). Click on ‘I am not a Robot’. In the last step, click on the search tab to view the status details.

Divgi TorqTransfer Systems Limited is an automotive component entity. The company has the capability to develop and provide system-level transfer cases, torque couplers, and dual-clutch automatic transmission solutions. Divgi TorqTransfer Systems serves as both, systems-level solution providers and component kit suppliers, to global OEMs, such as Tata Motors and Mahindra & Mahindra, and Tier I transmission systems suppliers.