Divgi TorqTransfer Systems was incorporated on December 16, 1964. The company manufactures and supplies a variety of products under broad categories of torque transfer systems (which includes four-wheel-drive and all-wheel-drive products), synchronizer systems for manual transmissions and DCT and components for the above-mentioned categories for torque transfer systems and synchronizer systems in manual transmission, DCT, and EVs.
| Bidding Dates |
|---|
| 01 Mar 2023 - 03 Mar 2023 |
| Subscription |
|---|
| 5.44x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,750 | 1 | 13 | 25 | 7.0 M | ₹560 - ₹590 | 77.16 % | ₹3911.7 M - ₹4121.2 M | RHP DOC |
Divgi Torqtransfer IPO SUBSCRIPTION STATUS
03 Mar '23Divgi Torqtransfer IPO overall subscription rate was 5.44 times the total available shares
Divgi Torqtransfer IPO retail subscription rate was 4.3 times in the retail segment
Divgi Torqtransfer IPO non-institutional investor subscription rate was 1.4 times in the non-institutional investor category
Divgi Torqtransfer IPO Qualified Institutional Bidder subscription rate was 7.83 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
03 Mar 2023 (Day 3) | 4.3x | 1.4x | 7.83x |
02 Mar 2023 (Day 2) | 1.56x | 0.22x | 0.06x |
01 Mar 2023 (Day 1) | 0.6x | 0.06x | 0x |
Divgi Torqtransfer FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY23 | 256.6 | 1,337.2 | 103.3 | -62.2 | 27.7% |
| FY22 | 461.5 | 2,337.8 | 510.8 | 111.5 | 28.1% |
| FY21 | 380.4 | 1,865.8 | 269.7 | 14.5 | 27.8% |
| FY20 | 280.4 | 1,590.7 | 383.3 | 252.4 | 23.2% |
Divgi Torqtransfer IPO SUBSCRIPTION STATUS DETAILS
Divgi Torqtransfer had 7.0 M shares on offer
Divgi Torqtransfer IPO offer price was in the range ₹560 - ₹590
Divgi Torqtransfer IPO minimum Investment was ₹14750
Divgi Torqtransfer IPO issue size was ₹ 3911.7 M - ₹ 4121.2 M
Divgi Torqtransfer had a minimum lot size of 25 Shares per application
Divgi Torqtransfer NUMBER OF SHARES ON OFFER
Divgi Torqtransfer IPO IMPORTANT DATES
| Issue Open Date | 01 Mar 2023 |
| Issue close Date | 03 Mar 2023 |
| Allotment Date | 09 Mar 2023 |
| Refund Date | 10 Mar 2023 |
| Demat Account Credit Date | 13 Mar 2023 |
| Listing Date | 14 Mar 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Divgi Torqtransfer Allotment Status | Exchange |
Divgi Torqtransfer IPO subscription opened on 01 Mar 2023, and closed on 03 Mar 2023
IPO allotment for Divgi Torqtransfer was finalized on Thursday, 09 Mar 2023
IPO listing for Divgi Torqtransfer was on NSE and BSE on Tuesday, 14 Mar 2023
Divgi Torqtransfer IPO LISTING GAINS
| Issue Price (adjusted) | 590.0 |
| Listing Open Price | 620.0 |
| Listing Close Price | 605.2 |
| Listing Gain% | 5.1% |
| Current Gain% | 77.5% |
Divgi Torqtransfer Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Divgi Torqtransfer Systems Ltd. | 1047.2 | 3202.8 | 68.3 | 0.7 | 9.1 | 7.4 | 6.4 | 375.2 | 56.2 | 46.9 | 92.4 | 15.3 | 92.4 |
| Samvardhana Motherson International Ltd. | 168.5 | 177842.4 | 40.6 | 1.3 | 1.4 | 9.4 | 3.5 | 126414.2 | 10.7 | 3859.7 | 1.5 | 4.1 | 31.9 |
| Bosch Ltd. | 42950 | 126685.7 | 45.7 | 1.2 | 6.3 | 18.7 | 12.8 | 20888.7 | 10.5 | 2773.2 | 37.6 | 940.2 | 37.6 |
| UNO Minda Ltd. | 1285 | 74204.5 | 61.7 | 3.8 | 3.6 | 17.5 | 8.7 | 19692 | 17.2 | 1197.1 | 27 | 20.8 | 16.2 |
| Tube Investments of India Ltd. | 2772 | 53658.2 | 84.3 | -16 | 2.3 | 8.2 | 3 | 23234.6 | 17.1 | 636.8 | -5.5 | 32.9 | -5.3 |
| Sona BLW Precision Forgings Ltd. | 818 | 51009.7 | 73.3 | 3.8 | 10.3 | 10.7 | 8.6 | 4572.1 | 24.2 | 640.2 | 6.5 | 11.2 | 19.2 |
Divgi Torqtransfer INFORMATION ON IPO ISSUE
About Divgi Torqtransfer
Divgi TorqTransfer Systems was incorporated on December 16, 1964. The company manufactures and supplies a variety of products under broad categories of torque transfer systems (which includes four-wheel-drive and all-wheel-drive products), synchronizer systems for manual transmissions and DCT and components for the above-mentioned categories for torque transfer systems and synchronizer systems in manual transmission, DCT, and EVs.
Object of the Issue
- Funding capital expenditure requirements for the purchase of equipment/machineries for manufacturing facilities
- General corporate purposes
Divgi Torqtransfer - PROMOTERS
| Name |
|---|
| Jitendra Bhaskar Divgi |
| Hirendra Bhaskar Divgi |
| Divgi Holdings Private Limited |
Divgi Torqtransfer Book Running Lead Manager
Inga Ventures Private Limited
divgi.ipo@ingaventures.com
Divgi Torqtransfer Book Running Lead Managers
Equirus Capital Private Limited
divgittsl.ipo@equirus.com
Divgi Torqtransfer Registrar to the Offer
Link Intime India Private Limited
divgi.ipo@linkintime.co.in
Divgi Torqtransfer Strengths
Capability to develop and provide various products
One of the very few suppliers in India having the capability to develop and provide system-level transfer cases, torque couplers, DCT solutions and transmission systems for EVs across a wide array of automotive vehicles and geographies, with leadership across select product categories
Strategically located manufacturing facilities
The company has strategically located manufacturing facilities capable of producing high-precision components meeting system-level design intent
Long-term relationships
The company has long-term relationships with marquee domestic and global customers
Consistent financial performance
The company has given consistent financial performance with a focus on innovation and research, and development capabilities
Divgi Torqtransfer Risks
Dependent on top five customers
The business largely depends on five customers, and the loss of such customers or a significant reduction in purchases by such customers will have an adverse impact on the business
Geographical concentration of the exports
The geographical concentration of the exports to certain countries and the inability to operate and grow the business in such countries may have an adverse effect on the business and its financial condition
Substantial competition
The business faces substantial competition, and its success depends on its ability to understand the evolving industry trends and to fulfil the changing preferences of the customer
IPO FAQs
This IPO consists of an offer for sale of up to Rs 232.1 crore, of 3,934,243 shares. It also consists of a fresh issue of Rs 180.0 crore.
The promoters of the company are Jitendra Bhaskar Divgi, Hirendra Bhaskar Divgi and Divgi Holdings Private Limited.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 560.0 - 590.0.
The IPO application opens on Mar 01, 2023 and closes on Mar 03, 2023.
The minimum lot size for the IPO is 25. The maximum lot size for the IPO is 325.
For all category investors, the minimum application amount for this IPO is Rs. 14,750.0, the maximum value for this IPO is Rs 191,750.0.
This IPO will be allotted on Mar 09, 2023.
The refund will be credited to your account on Mar 10, 2023.
The allotted shares will be credited to your demat on Mar 13, 2023.
Divgi Torqtransfer Systems Ltd.’s shares listed on the stock exchanges on Mar 14, 2023.