The Initial Public Offering (IPO) of Diffusion Engineers Limited on its first day of bidding or day 1 was subscribed 7.16 times. The IPO opened for public issue on Thursday, (September 26) and is set to close on Monday, (September 30).
According to stock exchange data, the issue received bids for 4,72,31,624 shares against an offer of 65,98,500 equity shares.
The price band of the public issue is set between Rs 159 to Rs 168 per share.
Subscription breakdown
Retail Portion: Subscribed 11.24 times
Non-Institutional Investors: Subscribed 6.80 times
Employee Reserved Portion: Subscribed 16.67 times
Qualified Institutional Buyers (QIBs): Subscribed 0.03 times
Anchor Investment
Prior to the opening of the public issue, the company received Rs 47.14 crore from anchor investors. The key institutions participating in the anchor round included HDFC Mutual Fund, 3P India Equity Fund backed by Prashant Jain, Saint Capital Fund, and Craft Emerging Market Fund PCC – Elite Capital Fund.
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Book-running lead manager
Unistone Capital Private Limited is the sole book-running lead manager for the issue, while Bigshare Services Private Limited serves as the registrar.
The shares will be listed on both BSE and NSE once the IPO concludes.
About the company
The company operates in manufacturing welding consumables, wear plates, wear parts, and heavy engineering machinery for core industries like cement, steel, power, and mining.
The company has also invested heavily in R&D to offer customised repair and reconditioning services for heavy machinery.
Disclaimer:This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.