Diffusion Engineers IPO fully subscribed within minutes after launch; check price band and more

Diffusion Engineers Limited IPO opened to strong demand across investor categories on Thursday, September 26. The public offer was fully subscribed within minutes of launch.

Diffusion Engineers IPO was booked 1.68 times as investors placed bids for 1.11 crore shares against the 65.98 lakh shares on offer, the NSE data at 11 am showed.

Retail individual investors applied for over 92.39 lakh shares against the 32.74 lakh shares set aside for the category. The issue was booked 2.82 times in the retail category. The Non-Institutional Investors’ (NIIs) category was booked 1.16 times, with bids for more than 16.22 lakh shares against 14.03 lakh shares reserved for the category.

The Qualified Institutional Buyers’ (QIBs) category did not receive any application. The company has set aside 18.71 lakh shares for QIBs. Employees of the company placed bids for over 2.5 lakh shares against the 50,000 shares set aside for the category, booking their segment 5 times.

Diffusion Engineers IPO offer size and price band

Diffusion Engineers IPO is worth ₹158 crore and consists of an entirely fresh issue of 94 lakh shares. The price band for the Diffusion Engineers IPO has been set at ₹159 to ₹168 per share.

Retail investors interested in applying for Diffusion Engineers IPO can place bids for a minimum lot size of a single lot, or 88 shares, which aggregates to an investment of ₹14,784. On the other hand, Small Non-Institutional Investors (sNII) can place bids for a minimum lot size of 14 lots or 1,232 shares, amounting to ₹2,06,976. Big Non-Institutional Investors (bNII) can place bids for a minimum lot size of 68 lots, or 5,984 shares, amounting to an investment of ₹10,05,312.

Diffusion Engineers IPO dates

Diffusion Engineers' IPO subscription window opened today, Thursday, September 26. The three-day subscription window of Diffusion Engineers IPO is scheduled to close on Monday, September 30.

Diffusion Engineers IPO share allotment status is likely to be finalised on Tuesday, October 1. After the share allotment status of the public issue is finalised, refunds will be initiated for unsuccessful bidders on Thursday, October 3 and successful bidders will receive shares of Diffusion Engineers in their Demat accounts the same day. Shares of Diffusion Engineers will list on the NSE and BSE. The tentative listing date for Diffusion Engineers shares is Friday, October 4.

Diffusion Engineers IPO Registrar

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

Diffusion Engineers Promoters

The company's promoters include Prashant Garg, Nitin Garg, and Chitra Garg. Before the issue, the promoters held a 93.1% stake in the company. After the issue, their shareholding will reduce to 69.7%.

Diffusion Engineers IPO objective

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

About Diffusion Engineers Limited

Diffusion Engineers Limited, founded in 1982, is a manufacturer of welding consumables, wear plates and parts, and heavy machinery for core industries. The company offers specialised repair and reconditioning services for heavy machinery and equipment.

Diffusion Engineers Limited has four manufacturing units which are located in Nagpur, Maharashtra. The company employed over 130 engineers as of February 29, 2024.