IPO watch:1) Divgi TorqTransfer Systems 2) Vertical Technologies

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Divgi TorqTransfer sets IPO price band at Rs 560-590





Posted by S Kumar
Mumbai: Divgi TorqTransfer Systems sets IPO price band at Rs 560-590 per share
The IPO will open on Wednesday and conclude on Friday

Pune-based auto component manufacturer Divgi TorqTransfer Systems has priced its initial public offering (IPO) between Rs 560 to Rs 590 per share. The IPO will open on Wednesday and conclude on Friday.  

 The IPO comprises a fresh issue of Rs 180 crore and an offer for the sale of up to Rs 232 crore by Oman India Joint Investment Fund and Nandan Nilekani ( Family Trust.

At the upper end of the price band, the issue could raise up to Rs 412 crore. 
The company plans to utilise the net proceeds of the fresh issue for funding capital expenditure requirements, and for the purchase of equipment for its manufacturing facilities.

The company manufactures and supplies torque transfer systems, and synchronizer systems for manual transmissions.

The company has three manufacturing and assembling facilities at Sirsi in Karnataka, Shivare and Bhosari near Pune in Maharashtra, and one under-construction manufacturing facility located at Shirwal, Maharashtra.

The company designs, develops, manufactures and supplies turnkey solutions and components to automotive original equipment manufacturers  (OEMs) across India, USA, China, Korea and Russia, amongst others.
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Vertex Plus Technologies will be listed on NSE Emerge

Posted by S Kumar 
Mumbai: Vertical
Technologies Limited, a Jaipur based Information Technology company engaged in consulting, outsourcing, infrastructure and digital solutions and services, has announced its IPO for 14,79,600 shares at a price band of ₹91-96 per share, with a face value of ₹10 per share. Out of 14,79,600 shares, 7,02,000 shares are reserved for the QIB quota (including Anchor Reservation), 2,11,200 shares will be reserved for the HNI quota and 4,92,000 shares are reserved for the retail quota, whereas 74,400 shares have been set aside under the market maker quota. The shares will be sold in lot size of 1,200 shares. The issue opens on the 1st March 2023 for the anchors and on the 2nd March 2023 otherwise. The closing date is 6th March 2023. It will subsequently be listed on the NSE Emerge platform. The lead manager to the issue is Beeline Capital Advisors Pvt. Ltd. 

The projected utilisation of the proceeds raised from the issue are:

70% for working capital requirements
20% for general corporate purposes
10% for the issue expense

VertexPlus Technologies Limited is an ISO 9001:2015 and ISO/IEC 27001:2013 certified Information Technology company engaged in consulting, outsourcing, infrastructure and digital solutions and services. It collaborates with companies to fulfil their ever evolving Information technology needs and supports their business with its enabling solutions to strengthen their current capabilities and build pathways for sustainable growth. The company has experience across various industry sectors. The company offers four broad categories of services - technology, consulting, infrastructure and outsourcing. The company offers quality and timely delivery of complex enterprise projects through 5 delivery models: off-shore, on-site, hybrid, global and strategic partnerships. VertexPlus Technologies has a global delivery network and diversified customer base and revenue sources. 

Mr. Sandeep Kumar Pahariya, the Chairman and Managing Director of VertexPlus Technologies Limited, is the promoter of the company and has over 24 years of experience in the IT industry.

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