The three-day IPO ends on March 3.
The tender for anchor investors will open on February 28, according to the Red Hering prospectus.
The company has reduced the size of its new issue of shares to Rs 180 crore from Rs 200 crore previously planned.
Aside from the reissue, the company has increased its offering component of up to 3.93 million shares instead of the 3.15 million shares previously planned by investors and other selling shareholders, the RHP said.
As part of the OFS, Oman India Joint Investment Fund II, NRJN Family Trust, Bharat Bhalchandra Divgi, Sanjay Bhalchandra Divgi, Ashish Anant Divgi, Arun Ramdas Idgunji and Kishore Mangesh Kalbag will sell shares.
Proceeds from the reissuance will be used to fund capital expenditures to purchase equipment for the production facilities and general corporate purposes.
Divgi is an automotive components company capable of designing and providing system-level solutions for transfer cases, torque couplings and dual-clutch automatic transmissions. It has three manufacturing and assembly facilities across India.
The company’s customers include Mahindra & Mahindra, Tata Motors and Toyota Kirloskar Auto Parts.
Inga Ventures and Equirus Capital are the book-running lead managers of the issue.
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