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5 min read | Updated on October 04, 2024, 18:08 IST
SUMMARY
Diffusion Engineers IPO listing live update: Diffusion Engineers makes decent listings on the NSE and BSE. The company’s stock listed at ₹193.5, up 15.1% on the NSE. Meanwhile, on the BSE, shares debuted at ₹188, up 11.9%. The initial public offering (IPO) was open for subscription between 26 to 30 September. The IPO was priced in the range of ₹159-168 per share.
Decent start for Diffusion Engineers: Shares list at 15% premium on NSE
As the minimum bid quantity to apply for the Diffusion Engineers IPO was 88 shares, successful bidders who were allotted shares in the primary issue would have been sitting on listing gains of ₹2,244 (₹25.5 x 88) per lot as soon as trading began in the stock.
Furthermore, the Diffusion Engineers stock hits 5% of the upper circuit as soon as it is listed on the bourse. Hence, investors who are still holding the stock would have made ₹3,094 per lot.
Diffusion Engineers stock hits a 5% upper circuit after making a decent debut on the NSE and BSE. As of 10:20 am, shares traded at ₹203.17 per share, up 5% compared to the opening price of ₹193.50 per share on the NSE.
Meanwhile, on the BSE, the stock trades at ₹197.35 apiece, up 4.97% compared to the opening price of ₹188 per share.
Stock listed at ₹193.5 per share, up 15.1% over the issue price on NSE on October 4. Meanwhile, on the BSE, shares listed at ₹188 per share, up 11.9% compared to the upper end of the IPO price band of ₹168 per share.
Diffusion Engineers made a decent debut on the exchanges. Stock listed at ₹193.5 per share, up 15.1% over the issue price on NSE. Meanwhile, on the BSE, shares listed at ₹188 per share, up 11.9% compared to the upper end of the IPO price band of ₹168 per share.
The money raised from the public issue will be used by the company to expand its existing manufacturing facility, set up a new manufacturing facility at Nagpur, meet working capital requirements, and fund general corporate purposes.
Shares of the company were expected to make a decent debut on the bourses; however, a sharp fall in the global equity markets, including India, given the rising Middle East conflict, may impact the listing dat gains.
Investors can check the Manba Finance IPO share allotment status through the websites of the issue registrar, Bigshare Services, and the NSE.
Diffusion Engineers IPO was booked over 207.6 times in the Non-Institutional Investors (NIIs) category, with demand for 29.13 crore shares compared to 14.03 lakh shares reserved for the category. The retail portion of the IPO was booked 85.61 times, with applications for 28 crore shares compared to the allocation of 32.74 lakh shares.
Incorporated in 1982, Diffusion Engineers manufactures welding consumables like special-purpose electrodes, flux-cored wires, wear plates/parts, and heavy engineering machinery for various industries. The company also offers specialised welding services to its clients in the cement, power, and steel industries.
The company has four manufacturing units in Nagpur, Maharashtra, each producing a different set of products. Manufacturing units are strategically located in the central part of India, offering easy access to industries across the country and streamlined logistics for procurement and timely delivery to clients.
Between FY22 and FY24, Diffusion Engineers saw a 10.8% CAGR growth in its revenue from operations, while its net profit grew at a CAGR of 21.9%. Moreover, India’s welding consumables market is estimated to grow at a CAGR of nearly 9% between FY24 and FY27.
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