Business
Diffusion Engineers IPO subscribed 114.50 times on Final Day
Published
7 days agoon
The Initial Public Offering of Diffusion Engineers Limited was subscribed 114.50 times after receiving an overwhelming response from all the categories of investors on final day of bidding.
The issue received bids of 75,55,14,936 shares against the offered 65,98,500 equity shares, at a price band of ₹159-₹168, according to the data available on the stock exchanges.
Non-Institutional Investors Portion and Retail Portion were subscribed 207.60 times and 85.61 times respectively, whereas Qualified Institutional Buyer Portion was subscribed 95.74 times and Employee Reserved portion subscribed 95.05 times.
Unistone Capital Private Limited is the sole book running lead manager, and Bigshare Services Private Limited is the registrar of the issue. The Equity Shares are proposed to be listed on BSE and NSE.
Company Information
Diffusion Engineers Limited is engaged in manufacturing welding consumables, wear plates, wear parts, and heavy engineering machinery for core industries. With over four decades of experience, the company is dedicated to providing specialized repair and reconditioning services for heavy machinery and equipment. Additionally, the company is involved in trading anti-wear powders and welding and cutting machinery, and it provides a super conditioning process at its manufacturing facilities—a surface treatment solution for machine components that enhances wear resistance, eliminates stress, and improves repairability, ultimately extending lifespan and reducing production costs. The wear plates, integral to the majority of large industrial equipment, are produced in the heavy engineering division and play a significant role in manufacturing industrial equipment used in core industries like cement, steel, power, mining, engineering, oil and gas, and sugar. This forward integration helps the company achieve efficiency in the production process, gain a competitive advantage, reduce product costs, enhance supply chain control, and lessen dependency on third-party suppliers.
BSE + NSE Cumulative Demand Live Link
https://www.bseindia.com/markets/publicIssues/CummDemandSchedule.aspx?id=6787