At around 1:00 p.m., the issue was subscribed 21.6 times by retail investors, while INIs subscribed it 21 times. Meanwhile, the portion reserved for qualified institutional buyers (Degrees) had attracted offers for 76,032 actions of 18.71 lakh shares, representing a subscription of 4%.
Diffusion Engineers IPO Price Band
The company has fixed a price band of Rs 159 to Rs 168 per share, where investors can bid for 88 shares in one lot.
GMP Broadcast Engineers
Before the opening of the issue, the company’s shares are trading with a GMP of Rs 90 in the unlisted market, compared to Rs 78 on Thursday. Considering the upper price band of Rs 168, the stock commands a premium of 53.6% over the IPO price.
Other details
The company proposes to use the net proceeds from the IPO to fund capital expenditure requirements for the proposed expansion of its existing manufacturing facilities, establishment of a new manufacturing facility in Hingna, working capital requirements and other corporate purposes. general. Diffusion Engineers is dedicated to the business of providing engineering solutions to clients in both the national and international markets.Also read: Reliance Power shares rise 47% in 8 days. here’s why
Throughout its more than forty years of operation, it has diversified its offering, encompassing a wide spectrum of products and services, such as the production of specialized welding consumables, wear plates and heavy engineering equipment for essential industries.
The company also specializes in custom repair and overhaul services for heavy machinery and equipment. In addition to its core offerings, Diffusion Engineers is engaged in the trade of anti-wear powders and cutting and welding machinery.
In fiscal 2024, the company’s consolidated operating income increased 10% year-on-year to Rs 285 crore, mainly attributed to an increase in revenue from welding consumables, wear plates and trading activities. Net profit for the same period rose 39% year-on-year to Rs 30.8 crore.
Unistone Capital is the sole book-running manager and Bigshare Services is the book-runner for the offering. It is proposed that the equity shares be listed on BSE and JAN.
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