Automotive Element Company Divgi Torqtransfer Systems Ltd NSE-0.57% has filed primary papers with capital requests controller Sebi to raise finances through an original public immolation (IPO). The IPO will comprise fresh issue of equity shares adding up to Rs 200 crore and an offer for trade (OFS) of over to equity shares by investors and other dealing shareholders, according to the draft red herring prospectus (DRHP).
As part of the OFS, Oman India Joint Investment Fund II, Nrjn Family Trust, Bharat Bhachandra Divgi, Sanjay Bhalchandra Divgi, Ashish Anant Divgi, Arun Ramdas Idgunji and Kishore Mangesh Kalbag will discharge shares.
Proceeds from the fresh issue will be used towards backing capital expenditure conditions for the purchase of outfit for its manufacturing installations and general commercial purposes.
Divgi is an automotive element reality which has the capability to develop and give system position transfer case, necklace coupler, and Binary Clutch Automatic Transmission (DCT) results. It has three manufacturing and assembling installations located across India.
Mahindra & Mahindra, Tata Motors NSE-1.76% and Toyota Kirloskar Auto Parts are among the company’s guests. Inga gambles and Equirus Capital are the book running lead directors to the issue. The equity shares are proposed to be listed on BSE and NSE.
About Divgi Torqtransfer Systems Ltd
Divgi Metalwares Private Limited was established in 1964 as a small-scale manufacturing enterprise specializing in the manufacturing of gears and screwed machined parts. Serial entrepreneurship combined with a robust foundation in gear technology and manufacturing enabled the founding members, Ramarao and Bhaskar Divgi to carve a niche for themselves in a daunting marketplace that was strife with uncertainty and complexities of that era.
Creativity and innovation enabled the company to develop its capabilities and competencies which won the attention of a new generation of customers such as John Deere, JCB, Caterpillar and Borg Warner. The relationship with Borg Warner grew into a market development arrangement that quickly metamorphosed into a joint venture in 1995.
The JV was dissolved in 2016 and Divgi TorqTransfer Systems was formed as an independent company. Divgi TTS has evolved to become one of India’s leading Tier 1 companies in the design, development and manufacturing of advanced drivetrain components and systems.
The company has a diverse portfolio of products which includes mechanical as well as electrical 4×4 transfer cases, interactive torque couplers, dual & triple cone steel synchronizers, dual clutch automatic transmissions, 5 & 6 speed manual transmissions and single speed electric vehicle (EV) transmission.
Divgi TTS has, over the years built an enviable customer base which includes Toyota, Mahindra & Mahindra, Tata Motors. The company has stamped its global footprint being a trusted supplier to customers in UK and USA in the west to China, Thailand, Korea and Japan in the east.