Diffusion Engineers IPO Day 3: Mainboard issue booked over 76 times so far; check key details

Diffusion Engineers Limited IPO continued to see strong demand across investor categories on Monday, September 30, the last day of bidding. The mainboard issue has been booked 76 times, driven by Non-Institutional Investors (NIIs).

Diffusion Engineers IPO has received bids for over 50.15 crore shares compared to 65.98 lakh shares offered for subscription, leading to an overall subscription of 46.2 times, the NSE data till 2:30 pm showed.

The NIIs booked their quota 163.16 times with applications for more than 22.89 crore shares compared to 14.03 lakh shares reserved for the category. Diffusion Engineers IPO was booked 70.14 times in the retail category. The retail individual investors placed bids for over 22.96 crore shares against 32.74 lakh shares set aside for the category.

The Qualified Institutional Buyers (QIBs) placed bids for over 3.93 crore shares of Diffusion Engineers Limited against 18.71 lakh shares set aside for the category. The Diffusion Engineers IPO was booked 21 times in the QIBs category.

The employees of Diffusion Engineers Limited booked their quota more than 72 times with bids for over 36.19 lakh shares compared to 50,000 reserved for them.

Diffusion Engineers IPO issue size, price band and lot size

Diffusion Engineers IPO, worth ₹158 crore, is a book-building issue comprising an entirely fresh issuance of 94 lakh shares.

Diffusion Engineers IPO price band was fixed at ₹159 to ₹168 per share. The minimum lot size for retail investors has been fixed at 88 shares, aggregating to an investment of ₹14,784.

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.

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.

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.