Divgi TorqTransfer Systems IPO: Here is how to check the allotment status

• Divgi TorqTransfer Systems is likely to announce its share allotment status on March 9.
• The IPO received good demand from investors as the IPO was subscribed 5.4 times.
• The shares of the company will be listed on March 14 on the stock exchanges.

Pune-based automotive component manufacturer Divgi TorqTransfer Systems is likely to announce the allotment status of its initial public offering (IPO) on March 9.

The issue received good demand from investors as the IPO was overall subscribed for 5.44 times on the last day of the bidding process. Qualified institutional investors and retail investors highly subscribed to the IPO by 7.83 times and 4.31 times respectively.

The company plans to raise ₹412 crore at the upper end of the price band. The offer has a fresh issue of ₹180 crore, along with an offer for sale (OFS) of up to 39.34 lakh equity shares to be sold by promoters and shareholders.

The price band of the IPO is set at ₹560-590 per share. The company intends to use funds from the fresh issue towards the purchase of equipment/machinery at its manufacturing facilities, and general corporate purposes.

The shares of the company are currently commanding a grey market premium, or GMP, of ₹70 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges.

The company designs, develops, manufactures and supplies software-embedded electronically controlled transfer cases and torque couplers for customers like Tata Motors, Mahindra & Mahindra and others.

“From a valuation standpoint, based on the FY22 figures, the issue appears to be attractively priced at a P/E ratio of 35x when compared to its listed peers. However, the business has high customer concentration risk (91 percent of revenues comes from the top 5 customers and 54% is generated from 1 customer),” said Parul Sharma, research analyst at Samco Securities while recommending investors to ‘Subscribe’.

The company’s shares are scheduled to be listed on March 14 on the BSE and NSE.

Here is how to check Divgi TorqTransfer Systems IPO allotment status on the stock exchange websites:

• Go to the BSE website or NSE website here.
• On BSE, Select 'Equity' and then from the dropdown, select ‘Divgi TorqTransfer Systems’.
• Now, enter your application number and PAN.
• Click on 'Search'.
• Please note the details will only be available once the shares are allotted.

You can also visit the registrar website (Link Intime) to check your application status.

• Visit the registrar's website here.
• Click on 'Select company' and click on ‘Divgi TorqTransfer Systems’.
• Once the company is selected, you will have to enter either your PAN details, the application number, or the client ID.
• Enter the captcha code and click ’submit’.

Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you.


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