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Divgi Torqtransfer IPO: The IPO (Divgi Torqtransfer IPO) of Divgi Torque Transfer System Limited, a manufacturing company that has become an auto parts, is going to open on March 1, 2023. The company has announced the price band of the IPO. But the biggest beneficiary of the launch of this IPO is going to be the NRJN Family Trust, the family trust of Infosys co-founder Nandan Nilekani.
Infosys co-founder Nandan Nilekani’s family trust NRJN Family Trust (NRJN Family Trust) has 14.4 lakh shares of Divgi Tork Transfer. Nandan Nilekani is going to sell his entire stake in this IFIO. Nandan Nilekani is going to get 370% return on his investment from this IPO. That means the investor can get a return of about 4 times.
The IPO of Divgi Torque Transfer is going to open for investors’ applications on March 1, 2023 and the IPO will remain open till March 3. The company has fixed a price band of Rs 560 to Rs 590 per share. Anchor investors will invest on 28 February.
The company plans to raise Rs 412 crore through the IPO. In which Rs 180 crore is being raised from the fresh issue. The remaining 39.34 lakh shares are being sold in the IPO under the Offer for Sale which is being sold by the existing investors.
According to the draft paper, Nandan Nilekani’s family trust had bought shares of Divgi Tork Transfer at a price of Rs 125.28 per share. If shares are allotted to investors at Rs 590, then on an investment of Rs 18 crore, NRJN Family Trust will make a profit of Rs 67 crore, which is 370 per cent on investment. The trust holds 8.7 per cent stake in the company.
However, due to Adani group and foreign investors, the sentiment of the stock market has deteriorated. Many companies are postponing the decision to bring IPO, yet Nandan Nilekani supported Divgi Torque Transfer is going to launch its IPO.
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