Checkout Budget Highlights 2023Auto components manufacturer Divgi Torqtransfer Systems on February 28 mobilised Rs 185.45 crore via anchor book, ahead of its initial public offering (IPO), which opens tomorrow.
The company has allotted 31.43 lakh equity shares to 12 anchor investors.
"...in consultation with merchant bankers, we have finalised allocation of 31.43 lakh shares to anchor investors at anchor investor allocation price of Rs 590 per share," Divgi said in its filing to exchanges.
ICICI Prudential Mutual Fund, Nippon Life India, Quant Mutual Fund, Edelweiss Trusteeship, Motilal Oswal Mutual Fund, Aditya Birla Sun Life Insurance Company, Matthews Asia Funds, Aurigin Master Fund and Bengal Finance and Investment are the anchor investors in the company.
"Five mutual funds through a total of 8 schemes have invested Rs 143.99 crore via anchor book, in the company," Divgi said.
Divgi Torqtransfer Systems is slated to open its maiden public issue for subscription on March 1, the first IPO of the current calendar year. The offer will close on March 3.
The company plans to raise Rs 412 crore via public issue, at the higher end of the price band of Rs 560- Rs 590 per share.
The IPO comprises a fresh issue of Rs 180 crore and an offer for sale (OFS) of 39.34 lakh shares by public shareholders.
The company will utilise fresh issue proceeds for the purchase of equipment or types of machinery for manufacturing facilities and general corporate purposes.