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IPO

Autocomp maker Divgi attracts Rs.185-Cr from 12 anchor investors

MoneyControl  

Auto components manufacturer Divgi Torqtransfer Systems has attracted INR 185.45 crore via anchor book, ahead of its initial public offering (IPO). The company has allotted 31.43 lakh equity shares to 12 anchor investors. 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 among the anchor investors. Divgi plans to raise INR 412 crore via public issue, at the higher end of the price band of INR 560-INR 590 per share. The IPO comprises a fresh issue of INR 180 crore and an offer for sale (OFS) of 39.34 lakh shares by public shareholders. Divgi will use the proceeds for the purchase of equipment or machinery for manufacturing facilities.