Diffusion Engineers IPO Review – On October 3, the engineering company is probably going to credit shares to owners who qualify. On Thursday, the money that investors who missed the cut will also receive a return. The shares have been allotted by the IPO in full. Diffusion Engineers’ roughly 34% premium listing is indicated by the most recent GMP.
Diffusion Engineers IPO Details
The Diffusion Engineers initial public offering (IPO) is a new offering of 0.94 crore shares, book-built at ₹158 crore. The Diffusion Engineers IPO price range has been set by the business at ₹159 to ₹168 per equity share. A bidder may submit multiple applications; each lot consists of 88 company shares. The public issue’s main manager has been named as Unistone Capital.
Up to 50,000 staff shares are reserved for the issue at a ₹8 discount to the issue price. On Tuesday, October 1, 2024, the allocation for the Diffusion Engineers IPO is anticipated to be completed. The BSE and NSE will list Diffusion Engineers, with a provisional listing date of Friday, October 4, 2024.
Diffusion Engineers IPO Subscription Status
On the third day of the bidding process, Diffusion Engineers’ IPO saw 114.49 subscriptions, according to BSE data. According to BSE data, bids were received for 75,54,83,608 shares in the first share auction, while 65,98,500 shares were offered for sale. Non-institutional investors subscribed 207.60 times, while retail investors oversubscribed by 85.61 times. The employee section has been oversubscribed by 95.03 times, while the qualified institutional buyers (QIBs) section has been subscribed 95.74 times.
Diffusion Engineers IPO Review
The company’s operations include producing heavy engineering machinery, wear plates, wear parts, and welding consumables for its primary industries. Both its top and bottom lines for the fiscal year under review showed consistent increase. It seems that the issue is fully valued based on FY24 profits. In the midst of massive infrastructure and industrialization investment, it is well-positioned for bright prospects. Even if the issue seems fully priced, investors may store cash for the medium to long term.
