Divgi TorqTransfer Systems IPO: Three day subscription for the Initial Public Offering (IPO) of Divgi TorqTransfer Systems Ltd ended on Friday. Those who have applied for the public issue worth ₹ 412. 12 crore are now eagerly waiting for Divgi TorqTransfer Systems IPO allotment date, which is most likely on 9th March 2022. In three days of bidding, the public offer got subscribed 5. 44 times whereas its retail portion got subscribed 4. 31 times. As per the market observers, shares of Divgi TorqTransfer Systems Ltd are available at a premium of ₹ 72 in grey market today. Divgi TorqTransfer Systems IPO GMP today Market observers said that Divgi TorqTransfer Systems IPO GMP (grey market premium) today is ₹ 72, which is ₹ 2 higher from Divgi TorqTransfer Systems IPO GMP of ₹ 70 on Friday. They said that rise in GMP can be attributed to trend reversal on Dalal Street. Indian secondary market witnessed stellar rise on Friday as most of the key benchmark indices witnessed buying interest on the weekend trade. Observers said that Divgi TorqTransfer Systems IPO GMP has remained in positive direction even when the market sentiments were tepid. So, we can expected big upside if the trend continues to remain positive on Monday. TRENDING STORIES See All Premium Pharma stock sets record date for 1:10 stock split, net . . . Premium ‘Pneumonia’, ‘Oxygen need’: New Covid-like flu is drivi . . . Premium Making India a clean nation is responsibility of all ci . . . Premium Ways to ease motor insurance claim settlement What this GMP mean? Market observers said that Divgi TorqTransfer Systems IPO GMP today is ₹ 72, which means grey market is expecting that Divgi TorqTransfer Systems shares will list around ₹ 662 ( ₹ 590 + ₹ 72), which is around 12 per cent higher from Divgi TorqTransfer Systems IPO price band of ₹ 560 to ₹ 590 per equity share. However, stock market observers maintained that grey market is not an ideal indicator that one could rely so heavily. They advised investors to stick with their conviction they have made after scanning the balance sheet of the company before applying for the IPO. They said that GMP is non-regulated and completely speculative that keeps on changing on day by day. So, it is fundamentals that matters not grey market sentiment. MINT PREMIUM See All Premium Mint Explainer: What the G20 foreign ministers meeting . . . Premium Greed and Fear Pendulum: What's in store for Indian equ . . . Premium Elon Musk has reinvigorated the American public company Premium AI geeks poised to get up to 115% pay hike as demand fo . . . Divgi TorqTransfer Systems IPO subscription status After three days of bidding, Divgi TorqTransfer Systems IPO got subscribed 5. 44 times whereas it was subscribed 4. 31 times in retail category while NII and QIB portion got subscribed 1. 40 times and 7. 83 times respectively. ABOUT THE AUTHOR Asit Manohar Chief Content Producer at Live Mint Digital Team Read more from this author Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach. Take the test Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. More Less OPEN IN APP.