Diffusion Engineers IPO booked over 114 times, receives bid worth over ₹12,600 crore; check share allotment

Diffusion Engineers Limited IPO closed with a stellar subscription on Monday, September 30, driven by strong demand from Non-Institutional Investors (NIIs). The mainboard issue was booked over 114 times.

After the successful subscription, the investors are waiting for the Diffusion Engineers IPO allotment status to be finalised. The company is expected to decide the IPO share allotment status on Tuesday, October 1.

The book-building issue was open for subscription from September 26 to September 30. The tentative listing date for Diffusion Engineers Limited shares has been fixed as Friday, October 4. Diffusion Engineers' shares will be listed on the NSE and BSE.

Investors who applied for Diffusion Engineers Limited shares during the IPO bidding period can check the share allotment status on the websites of the NSE, and BSE, and issue registrar Bigshare Services Pvt Ltd.

Steps to check Diffusion Engineers IPO share allotment status on NSE website

• Open the NSE IPO allotment status page at www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with your username and password. The new users will have to create a login id with fresh registration on the NSE website.
• Choose ‘Diffusion Engineers’ from the drop-down menu for issue names.
• Enter the PAN details.
• Enter IPO application Number.
• Click on the ‘I am not a Robot’ checkbox
• Click the ‘Submit’ button.

Applicants should know that the details of their IPO allotment status will appear on screen only after the company finalises the share allocation. Alternatively, investors can also check Diffusion Engineers IPO share allotment status on the BSE website by entering the PAN and IPO application number.

Here’s how to check Diffusion Engineers IPO share allotment status on the IPO registrar’s website

• Go to the official website of Bigshare Services- https://ipo.bigshareonline.com/IPO_Status.html
• Select any of the servers from 3 options
• Select 'Diffusion Engineers’ from the dropdown menu for company names
• Pick any of the following options - Application Number, Beneficiary ID or PAN
• Enter details to verify
• Enter the Captcha
• Click on the Search button to view the share allotment status

Diffusion Engineers Limited IPO subscription details

Diffusion Engineers Limited IPO received bids for over 75.5 crore shares compared to 65.98 lakh shares offered for subscription, leading to an overall booking of 114.49 times on the last day of bidding, the NSE data at 5pm showed.

Non-Institutional Investors (NIIs) booked their quota 207.6 times with applications for nearly 29.13 crore shares compared to 14.03 lakh shares reserved for the category. Diffusion Engineers IPO was booked 85.61 times in the retail category. The retail individual investors placed bids for over 28 crore shares against 32.74 lakh shares set aside for the category.

The Qualified Institutional Buyers (QIBs) placed bids for over 17.91 crore shares against 18.71 lakh shares set aside for the category. The Diffusion Engineers IPO was booked 95.74 times in the QIBs’ category.

The employees of Diffusion Engineers Ltd booked their quota 95 times with bids for over 47.49 lakh shares, compared to 50,000 shares reserved for the category.

Diffusion Engineers IPO Objective

The company plans to use the funds raised via the public issue to expand its existing manufacturing facility in Nagpur, Maharashtra. The proceeds will also be used to set up a new manufacturing facility at Sonegaon in the Nagpur district of Maharashtra. A portion of the proceeds will also be used to fund working capital requirements and general corporate purposes.

Diffusion Engineers IPO share allotment status and listing date

Diffusion Engineers IPO opened for subscription on Thursday, September 26, and closed today, Monday, September 30. The share allotment status is expected to be finalised by Tuesday, October 1.

Subsequent to the allotment of shares, refunds will be initiated for unsuccessful bidders on Thursday, October 3, and on the same day, successful bidders will receive shares of Diffusion Engineers in their demat accounts.

Shares of Diffusion Engineers Limited are scheduled to be listed on the NSE and BSE. Diffusion Engineers IPO listing date has been scheduled as October 4.

Diffusion Engineers IPO Registrar

Unistone Capital Pvt Ltd is the book-running lead manager for Diffusion Engineers, and Bigshare Services Pvt Ltd is the registrar for the mainboard issue.

About Diffusion Engineers Limited

Diffusion Engineers was established in 1982. The company manufactures welding consumables, wear plates and parts, and heavy machinery. The company also offers repair and reconditioning services for heavy machinery and equipment. The company has four manufacturing units which are located at Nagpur Industrial Area. The company employed over 130 qualified engineers as of February 29, 2024.