Private Equity

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Autocomp player Divgi's Rs.412-Cr IPO subscribed 5.44 times

Economic Times  

The INR 412-crore initial public offering (IPO) of Pune-based auto parts manufacturer Divgi Torqtransfer Systems, was subscribed 5.44 times. The portion reserved for retail investors was subscribed 4.31 times, while the category for non-institutional investors (NIIs), including high-net-worth individuals, was subscribed 1.4 times. The qualified institutional buyers' segment saw bidding for 7.83 times the shares set aside to them. The issue was sold in a price range of INR 560-590. The IPO comprised a fresh share issue of INR 180 crore and an offer for sale of up to 39.34 lakh shares (The sellers include Oman India Joint Investment Fund or OIJIF and Nandan Nilekani Family Trust.) The company intends to meet capital expenditure needs for purchasing equipment and machinery for the manufacturing facilities from the net proceeds of the fresh issue in the IPO.

In May-18, Divgi had raised INR 100 Cr from OIJIF