Divgi TorqTransfer Systems shares close over 2 pc higher in debut trade

Shares of automotive component maker Divgi TorqTransfer Systems closed higher by more than 2 per cent in the debut trade on Tuesday.The stock was listed at Rs 620, up 5.08 per cent from the issue price of Rs 590 on the NSE. Shares settled at Rs 605.50 apiece, a jump of 2.63 per cent.On the BSE, the scrip made a debut at Rs 600, up by 1.69 per cent.

Shares of automotive component maker Divgi TorqTransfer Systems closed higher by more than 2 per cent in the debut trade on Tuesday.

The stock was listed at Rs 620, up 5.08 per cent from the issue price of Rs 590 on the NSE. During the day, it hit a low of Rs 560. Shares settled at Rs 605.50 apiece, a jump of 2.63 per cent.

On the BSE, the scrip made a debut at Rs 600, up by 1.69 per cent. The stock closed at Rs 605.15 per share, up by 2.57 per cent over the issue price.

The company commanded a market valuation of Rs 1,850.73 crore on the BSE.

In volume terms, 3.43 lakh equity shares were traded on the BSE and 34.14 lakh shares on the NSE during the day.

The Initial Public Offering (IPO) of Divgi TorqTransfer Systems was subscribed 5.44 times and concluded on March 3.

The offer had a fresh issue aggregating up to Rs 180 crore and an offer for sale of up to 39.34 lakh equity shares.

The Pune-based firm is an automotive component entity which has the capability to develop and provide system level transfer case, torque coupler, and Dual Clutch Automatic Transmission (DCT) solutions.

On Monday, the 30-share BSE Sensex tumbled 337.66 points or 0.58 per cent to settle at 57,900.19 points.