Automotive component manufacturer Divgi TorqTransfer Systems on Monday said it has fixed a price band of Rs 560-590 a share for its Rs 412-crore initial public offering (IPO).
The initial share-sale will be open for public subscription during March 1-3. The bidding for anchor investors will open on February 28.
The IPO comprises fresh issue of equity shares worth Rs 180 crore and an offer-for-sale (OFS) of 39.34 lakh shares by investors and other selling shareholders, the company said.
As part of the OFS, Oman India Joint Investment Fund II, NRJN Family Trust, Bharat Bhalchandra Divgi, Sanjay Bhalchandra Divgi, Ashish Anant Divgi, Arun Ramdas Idgunji and Kishore Mangesh Kalbag will offload shares.
At the upper-end of the price, the IPO is expected to fetch a little over Rs 412 crore.
Proceeds from the fresh issue will be used towards funding capital expenditure requirements for the purchase of equipment for its manufacturing facilities and general corporate purposes.
About 75 per
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