Diffusion Engineers IPO subscribed 15x on day 2 so far: Check subscription status, price band and other details here

Diffusion Engineers IPO saw an overall subscription of 15.35 times as of 12:43 PM on Friday, September 27. The segment reserved for retail investors was subscribed 21.63 times, the segment of non-institutional investors (NIIs) was subscribed 20.72 times, and the qualified institutional buyers' segment was subscribed 0.04 times as of 12:43 PM.

On Thursday, the first day of subscription, the issue saw an overall subscription of 7.16 times, with the retail portion subscribed 11.24 times and NII 6.80 times. Moreover, on day 1, the QIB segment was subscribed 0.03 times.

The Diffusion Engineers IPO, a welding consumables manufacturer opened for subscription on Thursday, September 26 and will close on Monday, September 30. This IPO has a price band of ₹159 to ₹168 per equity share. The IPO saw a robust buying interest as it was subscribed over seven times on the first day of subscription.

Diffusion Engineers Limited was founded in 1982 and is known to manufacture welding consumables, wear plates, and heavy machinery for core industries. The company also provides specialised repair services and trades in wear protection powders and welding. It functions in four manufacturing units in Nagpur and Maharashtra with over 130 engineers as of February 2024.

The company will utilise the net proceeds for expanding its existing facility, setting up a new manufacturing unit in Nagpur, funding working capital needs, and for general corporate purposes.

Diffusion Engineers IPO is an IPO offering and entirely fresh issue of 0.94 crore shares worth ₹158 crores. The IPO opened on September 26, 2024, and closes on September 30, 2024. The allotment for the Diffusion Engineers IPO is expected to be finalised on Tuesday, October 1.

The price band is set at ₹159-₹168 per share, with a minimum investment of ₹14,784 for retail investors with a minimum lot size for an application is 88 shares. Employees can apply for up to 50,000 shares at a discount of ₹8 per share. Unistone Capital Pvt Ltd is the lead manager, and Bigshare Services Private Limited is the registrar.