BSECompany Update3d ago · 11 Aug 2026, 06:18 pm
Attached herewith is the Monitoring Agency Report for quarter ended June 30, 2026
DIVGI TORQTRANSFER SYSTEMS Ltd · 543812
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Divgi TorqTransfer Systems Limited has submitted a Monitoring Agency Report for the quarter ended June 30, 2026, as per SEBI regulations. The report indicates that there are no material deviations from the objects of the initial public offer. The net proceeds from the issue stood at INR 169.662 Crore as on June 30, 2026.
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DIVGI TORQTRANSFER SYSTEMS Ltd - 543812 - Announcement under Regulation 30 (LODR)-Monitoring Agency Report
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Divgi TorqTransfer Systems Limited
Divgi TorqTransfer Systems CIN: L32201MH1964PLC013085
75, General Block, MIDC, Bhosari,
Pune 411 026, India
Tel: (+91-20) 63110110
Web: www.divgi-tts.com
Ref.: DTTS/Sec/26-27/30
August 11, 2026
To, To,
BSE Limited, National Stock Exchange of India Limited,
Phiroze Jeejeebhoy Towers, "Exchange Plaza" 5th Floor,
Dalal Street, Mumb ai - 400001 Plot No. C-1, G Block,
Bandra Kurla Complex, Bandra (East),
Mumbai – 400051
BSE Scrip Code – 543812 NSE Scrip Code - DIVGIITTS
Sub: Submission of Report of Monitoring Agency for the Initial Public Offer.
Dear Sir / Madam,
Pursuant to Regulation 41(4) of SEBI (Issue of Capital and Disclosure Requirements)
Regulations, 2018 and Regulation 32(6) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, we have attached herewith a Report of the Monitoring
Agency i.e. ICRA Limited for the quarter ended June 30, 2026.
You are requested to take the same on your record.
Thanking you,
For Divgi TorqTransfer Systems Limited
Aniket Kokane
Company Secretary and Compliance Officer
A51571
Enclosure: As above
June 2026
MONITORING AGENCY REPORT
Name of the Issuer: Divgi Torqtransfer Systems Limited
For quarter ended: June 30, 2026
Name of the Monitoring Agency (MA): ICRA Limited
(a) Deviation from the objects of the issue:
No material deviation - the utilization of the issuance proceeds is in line with the objects of the issue.
(b) Range of deviation:
Not Applicable
Declaration:
We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the
objects of the issue based on the information provided by the Issuer and information obtained from sources believed
by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of
any information/ certifications/ statements it receives. This Report is not intended to create any legally binding
obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said
information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of
the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as
creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report.
The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The
MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report
pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm that
we do not perceive any conflict of interest in such relationship/ interest while monitoring and reporting the
utilization of the issue proceeds by the issuer. We have submitted the report herewith in line with the format
prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the
title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee
of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of
the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no
responsibility for such comments of the issuer’s Management/Board.
Signature:
Parul Goyal Narang
Vice President & Head- Process Excellence
Analyst: Adrita Sadhukhan
Qulaity Analyst: Parul Narang
Sensitivity Label : Public
June 2026
1. Issuer Details
Name of the Issuer: Divgi Torqtransfer System Limited
Name(s) of the promoters:
Promoters
Hirendra Bhaskar Divgi
Jitendra Bhaskar Divgi
Divgi Holding Pvt Ltd
Source: Prospectus
Industry/ sector to which it belongs:
- Auto Components & Equipments
2. Issue Details
Issue Period: Opening date- March 01, 2023
Closing date- March 03, 2023
Type of Issue: Initial Public Offer
Type of specified securities: Equity shares
IPO Grading, if any: No credit rating agency registered with SEBI has been appointed in respect of obtaining grading
for the offer.
Issue Size (Rs. Crore): 412.120
With OFS portion: INR 412.120 Crore
Excluding OFS portion: INR 180.000 Crore.
Net proceeds as per prospectus: INR 168.434 Crore (Excluding Issue Related Expenses) *
*The revised net proceeds stood at INR 169.662 Crore as on 30th June 2026 on account of lower issue-related
expenses.
Sensitivity Label : Public
June 2026
3. Details of the arrangement made to ensure the monitoring of issue proceeds.
Source of information,
Comments of
certifications considered
Comments of the Monitoring the Issuer’s
Particulars Reply by the Monitoring
Agency Board of
Agency for the
Directors
preparation of report
-Peer Reviewed CA- Revision in General Corporate
Certificate Purpose is on account of the
Whether all utilization is as per
-Confirmation from actual offer-related expenditure
the disclosures in the Offer Yes
management being lower than estimated by
Document?
-Bank statement of the INR 1.228 Crore.
proceeds account
Whether shareholder approval
has been obtained in case of
Not As confirmed by the
material deviations# from No comments
Applicable Issuer’s management
expenditures disclosed in the
Offer Document?
Whether the means of finance
As confirmed by the
for the disclosed objects of the No No comments
Issuer’s management
issue has changed?
Is there any major deviation
observed over the earlier No No deviation observed. No comments
monitoring agency reports?
Whether all Government/
statutory approvals related to Not As confirmed by the
No comments
the object(s) have been Applicable Issuer’s management
obtained?
Whether all arrangements
pertaining to technical Not As confirmed by the
No comments
assistance/ collaboration are in Applicable Issuer’s management
operation?
Are there any favorable events
As confirmed by the As understood from the Issuer’s
improving the viability of these No
Issuer’s management management
object(s)?
Are there any unfavorable
As confirmed by the As understood from the Issuer’s
events affecting the viability of No
Issuer’s management management
the object(s)?
Is there any other relevant
information that may materially As confirmed by the As understood from the Issuer’s
affect the decision making of the Issuer’s management management
investors?
Sensitivity Label : Public
June 2026
# Where material deviation is defined to mean:
(a) Deviation in the objects or purposes for which the funds had been raised.
(b) Deviation in the amount of funds utilized by more than 10% of the amount specified in the offer document.
4. Details of the object(s) to be monitored.
(i) Cost of object(s)
Source of Comments of the Issuer’s Board of
information, Directors
Original
certifications Revised
cost (as per Propos
considered by cost Comments of the Particulars of
S.N. Item Head the offer Reason ed
the Monitoring [Rs. Monitoring Agency firm
document) for cost financi
Agency for the Crore] arrangements
[Rs. Crore] revision ng
preparation of made
option
report
Funding capital
expenditure
requirements for the
1 purchase of Prospectus 150.707 - No comments - - -
equipments/
machineries of
manufacturing
facilities
Revision in General
Corporate Purpose
is on account of the
General Corporate Prospectus actual offer-related
2 17.727 18.955 - - -
Purpose expenditure being
lower than
estimated by INR
1.228 Crore
Total 168.434 169.662
Sensitivity Label : Public
June 2026
(ii) Progress in the object(s)
Source of Comments of the
Amount utilized
information, Amount as Issuer’s Board of
[Rs. Crore] Total
certifications proposed Directors
unutilized Comments of the
S.N. Item Head considered by the in the offer As at the At the
amount Monitoring Agency Reasons Proposed
Monitoring Agency document beginning During the end of
[Rs. Crore] for idle course of
for the preparation [Rs. Crore] of the quarter the
funds action
of
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