Diffusion Engineers IPO was a fresh issue of entirely 94 lakh shares.
Diffusion Engineers shares got listed in the stock market on Friday at a 15.2% premium. The company’s shares made a good debut in the stock markets on October 4. The company’s shares were listed on NSE at Rs 193.50. This is 15.2 percent more than the IPO price of Rs 168. Meanwhile, the share was listed on BSE at Rs 188, which is 12 per cent higher than the issue price. The company’s IPO was open for bidding from September 26 to September 30. The company had fixed the price band for this IPO at Rs 159-168 per share.
IPO got 213.41 times subscription
According to the news, Diffusion Engineers IPO had received excellent support from investors. The company’s IPO was subscribed 213.41 times during the three-day bidding period. The IPO received bids for 234.59 crore shares against 1.09 crore shares. The retail investors segment saw subscription of 96.74 times, while the non-institutional investors (NII) category witnessed heavy bookings of 430.54 times. Qualified institutional buyers (QIBs) subscribed 253.04 times.
A fresh issue of 94 lakh shares
Diffusion Engineers IPO was a fresh issue of entirely 94 lakh shares. There was no offer-for-sale component. The minimum application size for retail investors was set at 88 shares, requiring an investment of ₹14,784. The IPO allotment date was October 1. Diffusion Engineers Ltd has attracted considerable attention for its IPO, with a subscription rate of over 114 times. The market valuation of the company has been Rs 738.61 crore. Diffusion Engineers is engaged in the business of manufacturing welding consumables, wear plates and wear parts, and heavy engineering machinery for the core sector.
Company’s shares closed in upper circuit
Shares of Diffusion Engineers closed in the upper circuit at Rs 203.17 after opening at Rs 193.50. The shares were listed on NSE and BSE. The price of IPO was Rs 168 per share. The company provides specialized repair and reconditioning services for heavy machinery and equipment. The company also trades wear protection powder and welding and cutting machines.
Latest Business News
