This IPO is Opening Today, Price at Rs 60 Premium in the Grey Market

Divgi TorqTransfer Systems IPO: Automotive component manufacturer Divgi TorqTransfer Systems' IPO is opening today from March 1. In this, investors will be able to bet till March 3, 2023. Its price band has been fixed at Rs 560-590. 


This IPO is Opening Today, Price at Rs 60 Premium in the Grey Market

The company on Tuesday said it has raised over Rs 185 crore from anchor investors ahead of its issue. The proceeds raised from the IPO will be used by the company for its manufacturing facilities and general corporate purposes.


According to market experts, shares of Divgi TorqTransfer Systems are earning a premium (GMP) of ₹60 in the grey market. The equity shares of the company are expected to be listed on bse and NSE stock exchanges on March 60. 


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"On a strong financial base, their business model is backed by a consistent track record of revenue growth and profitability with a CAGR of 14.2020% and 22.21% between FY 23-28," said Parul Sharma, Research Analyst, Samco Securities. With a favorable future growth potential in the long run, we recommend investors to "subscribe" to this IPO. "


Abhay Doshi of Unlisted Arena said, "Divgi has registered impressive growth in both the top and bottom line. The company's ever-growing EBITDA margin, which is currently around 28%, looks attractive. Divgi TorqTransfer Systems' IPO is priced at 23 times pe based on its annual FY36 earnings after the issue, which is a modest price compared to its listed peers."

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