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Divgi TorqTransfer Systems Shares Listing: In the year 2023, there is a third company whose listing has taken place today and its name is Dwigi Torquetransfer Systems. Investors of this company have got a good listing gain today as its shares are listed at 5% premium today.
Dwigi torque transfer systems listing at Rs.
Today, the listing of Divgi TorqTransfer Systems has been done with a 5 percent premium, through which its shares are listed at Rs 620 on the National Stock Exchange (NSE). The price band of the company’s shares was Rs 590 in the IPO. At the same time, the company’s shares were trading at Rs 600 per share on the Bombay Stock Exchange.
Automotive component maker Dwiggy TorqueTransfer Systems is the third such stock to year 2023 is listed on the stock exchange. The market capitalization of this company is at Rs 1834 crore. However, the company’s listing has been done at a lower level than expected as its shares were trading with an 8 per cent premium in the gray market. The high listing gain expected by the investors was not fulfilled.
How was the performance of the IPO
The IPO of Dwiggy TorqueTransfer Systems witnessed good investor response and was well subscribed by QIBs and retail investors. Qualified institutional investors subscribed 7.83 per cent to the IPO and retail investors subscribed 4.31 per cent. The company has raised Rs 412 crore on the upper price band of the IPO. The company’s IPO was a fresh issue of Rs 180 crore and 39.34 lakh equity shares were issued under the OFS on behalf of the promoters and shareholders.
What will the company do with the tax collected from the IPO?
Under the plan of Dwiggy Torquetransfer Systems, the company will buy equipment and machinery for its manufacturing facility with the amount raised from the IPO. Apart from this, general corporate objectives will be met.
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