Diffusion Engineers IPO allotment finalised: Here’s how to check status on Bigshare Services, NSE

The allotment for Diffusion Engineers Limited IPO has been finalised. The IPO saw an overwhelming response from the investors as it got subscribed over 114 times as on the final day of the IPO.

The IPO applicants can check the share allotment status online through the websites of the NSE, BSE and issue registrar, Bigshare Services Pvt Ltd.

The public issue was subscribed 85.61 times in the retail category, 95.74 times in QIB, and 207.60 times in the NII category by September 30, the final day of the IPO.

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

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

Diffusion Engineers Limited IPO share allotment status can also be checked on the BSE website by using the PAN and application number.

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

• Go to the official website of Bigshare Services- https://ipo.bigshareonline.com/IPO_Status.html.
• Click on IPO allotment status link
• Select any of the servers from the three links
• Click on 'Diffusion Engineers Limited’ from the dropdown list for company names.
• Select any of the following details— Application Number, Beneficiary ID or PAN— and enter the details to verify.
• Enter the captcha
• Click on the search button to view the share allotment status.

Diffusion Engineers Limited IPO objective

The company plans to use the net proceeds from the issue for capital expenditure to expand its current manufacturing facility in Nagpur, set up a new facility in MIDC Hingna, meet working capital needs, and for general corporate purposes.

Diffusion Engineers IPO: Key strengths

• The company has over four decades of experience in the industry and has grown from a single-product to a multi-product manufacturing company.
• It has demonstrated consistent growth in revenues and profitability. Revenue rose by over 10% CAGR between FY22 and FY24, while net profit grew at a 21.9% CAGR.
• In a strategic move to diversify and enhance the product portfolio of welding consumables, the company intends to manufacture nickel, cobalt, and iron-based powders to cater to the growing demand from various industries.

Diffusion Engineers Limited IPO details

The mainboard IPO consisted of a fresh issue of 0.94 crore shares. The IPO price band was fixed at ₹159 to ₹168 per share.The minimum lot size for retail investors was fixed at 88 shares which aggregated to an investment of ₹14,784.

Diffusion Engineers IPO listing date has been tentatively scheduled for October 4. The welding manufacturer's shares will be listed on both the NSE and BSE.

About Diffusion Engineers Limited

Diffusion Engineers Limited, founded in 1982, manufactures welding consumables, wear plates, and heavy machinery. They provide repair and reconditioning services for heavy machinery and trade in wear protection powders and welding machines. The company operates four manufacturing units in Nagpur, specialising in welding electrodes, flux-cored wires, wear plates, and coatings for abrasion resistance.

With over four decades of business operations, the company has established long-standing relationships with several clients. It served 503, 500 and 444 customers in FY 2024, 2023 and 2022, respectively. Meanwhile, its top 10 clients contributed 29.4%, 30.9% and 33.2% to overall revenue in the last three fiscal years. Cement, core engineering, and steel are three major industries in terms of revenue contribution.

Rising demand for improved infrastructure in India could be one of the key growth drivers for the welding consumables sector. Welding is indispensable in the construction industry, providing strong and reliable joining solutions for structural components. This could indirectly benefit the Diffusion Engineers business and growth prospects.