BackDivgi TorqTransfer Systems IPO: What GMP says about Nandan Nilekani-backed issue
Divgi TorqTransfer Systems IPO: the auto component company has fixed price band of the IPO at ₹560 to ₹590 per equity share
PremiumDivgi TorqTransfer Systems IPO: .he Nandan Nilekani-backed initial public offering (IPO) is going to open on 1st March 2023 i.e. tomorrow and it will remain open for bidders till 3rd March 2023. The auto component company has fixed Divgi TorqTransfer Systems IPO price band has been fixed at ₹560 to ₹590 per equity share. The public issue is proposed for listing on BSE and NSE and tentative date for Divgi TorqTransfer Systems share listing is 14th March 2023.
Divgi TorqTransfer Systems IPO GMP today
Meanwhile ahead of Divgi TorqTransfer Systems IPO opening, grey market is dropping positive signals in regard to this public issue. As per the market observers, shares of Divgi TorqTransfer Systems Ltd are available at a premium of ₹60 per equity share in grey market today. This means Divgi TorqTransfer Systems IPO GMP (grey market premium) today is ₹60, which is quite healthy as stock market sentiments are quite low and key bench mark indices of the Indian stock market has been under sell off pressure for last seven sessions. Experts said that once there is trend reversal on Dalal Street, grey market sentiments may further improve in regard to Divgi TorqTransfer Systems IPO.
What this GMP means?
Market observers said that Divgi TorqTransfer Systems IPO GMP today is ₹60, which means grey market is expecting that the public issue will list at around ₹650 ( ₹590 + ₹60), which is around 10 per cent higher from its upper price band of ₹590 apiece.
However, stock market experts advised investors to follow the basics and scan financials of the company rather following the grey market sentiments only. They said that grey market numbers are non-regulated and completely speculative and hence there are chances that it may give right cue about the public issue. so, it's better to follow the balance sheet of the company and find out what its fundamentals suggest.
Nandan Nilekani's shareholding
As mentioned above, Divgi TorqTransfer Systems Ltd is Nandan Nilekani-backed company. As per the information available in RHP of the public issue, Nanda Nilakeni family is selling around 14.40 lakh shares of the company, which they had acquired at around ₹125.28 apiece levels. So, the IPO would give multibagger return to Nandan Nilakeni family trust, which is offloading these 14.40 lakh company shares.
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