Divgi TorqTransfer Systems IPO
Divgi TorqTransfer Systems Limited (DIVGIITTS) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 14 March 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +2.5% (likely range -11% to +10%), day's high +8.2%, chance of a gain 82%. Actual: +5.1% at the open, +5.1% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 20,95,528 | 1,64,16,050 | 7.83x | |
| NII (HNI) total | 10,47,763 | 14,62,900 | 1.40x | |
| Big NII (above ₹10 lakh) | 6,98,508 | 6,22,525 | 0.89x | |
| Small NII (₹2-10 lakh) | 3,49,255 | 8,40,375 | 2.41x | |
| Retail | 6,98,509 | 30,08,275 | 4.31x | |
| Total | 38,41,800 | 2,08,87,225 | 5.44x |
Bids on NSE and BSE together, as published by NSE, as of 03 Mar 2023, 07:00 PM. Shares offered exclude the anchor portion. 13% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Divgi TorqTransfer Systems's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Angel BrokingSep 2020 | 5.74x | 0.69x | 4.31x | 3.94x | ₹602 Cr | -10.1% | -3.0% |
| Craftsman AutomationMar 2021 | 5.21x | 2.84x | 3.43x | 3.81x | ₹824 Cr | -8.8% | 0.0% |
| eMudhraMay 2022 | 4.05x | 1.28x | 2.61x | 2.72x | ₹411 Cr | +5.5% | +9.0% |
| Mahindra LogisticsNov 2017 | 15.6x | 2.07x | 6.10x | 7.90x | ₹829 Cr | 0.0% | +1.1% |
| ShalbyDec 2017 | 4.34x | 0.42x | 2.98x | 2.82x | ₹515 Cr | -3.4% | +2.7% |
| Krishna Institute of Medical SciencesJun 2021 | 5.26x | 1.89x | 2.89x | 3.86x | ₹2,145 Cr | +22.3% | +28.4% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Inga Ventures | 3 | +17.1% | 100% |
| Equirus Capital | 34 | +21.3% | 74% |
Offer documents (NSE)
Frequently asked
What is the Divgi TorqTransfer Systems IPO price band and lot size? ₹560–590 per share, with a lot of 25 shares, so the smallest retail bid is ₹14,750.
How many times has it been subscribed? 5.44x overall: QIB 7.83x, NII 1.40x, retail 4.31x.
How did it list? It opened at ₹620, +5.1% against the issue price of ₹590, and closed its first day +2.6%.
