The listing ceremony of Diffusion Engineers Limited took place on the National Stock Exchange.
Shares of Diffusion Engineers Ltd listed at ₹193, 15.17% above the issue price on the National Stock Exchange (NSE). The share listed at ₹188, 11.90% above the issue price, on the Bombay Stock Exchange (BSE). The issue price of this initial public offering was ₹168.
This IPO was open for investors from 26 September to 30 September. The IPO was subscribed a total of 114.5 times in three trading days. It was subscribed 85.61 times in the retail category, 95.74 times in the Qualified Institutional Buyers (QIB) and 207.60 times in the Non-Institutional Investors (NII) category.
Diffusion Engineers' issue was worth ₹158 crore
This issue total of Diffusion Engineers was ₹ 158 crore. For this, the company issued 9,405,000 fresh shares worth ₹ 158 crore. The existing investors of the company did not sell a single share through Offer for Sale i.e. OFS.
Retail investors could bid for maximum 845 shares
Diffusion Engineers Limited had fixed the IPO price band at ₹159 to ₹168. Retail investors could bid for a minimum of one lot i.e. 88 shares. If you had applied for 1 lot at the upper price band of IPO of ₹ 168, you would have had to invest ₹ 14,784.
At the same time, retail investors could apply for a maximum of 13 lots i.e. 1144 shares. For this, investors would have to invest ₹ 192,192 as per the upper price band.
35% of the issue was reserved for retail investors
The company had reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 35% share was reserved for retail investors and the remaining 15% share was reserved for non-institutional investors (NII).
Diffusion Engineers was established in 1982
Diffusion Engineers Limited was established in 1982. The company provides various types of welding related services and manufactures heavy equipment. Diffusion Engineers provides its services to more than 20 countries and also exports its products. As of 29 February 2024, the company had a team of more than 130 qualified engineers.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
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