Diffusion Engineers IPO Review: The price band for the IPO is set at Rs 159 to Rs 168 per share, with a minimum lot size of 88 shares, requiring an investment of Rs 14,784 for retail investors.
Diffusion Engineers Limited is launching a book-built IPO worth Rs 158 crores, offering a total of 0.94 crore fresh shares. The bidding process opened on September 26 and will close on September 30, 2024. Allotment results are expected to be finalised on October 1, with the listing expected for October 4 on BSE and NSE.
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The price band for the IPO is set at Rs 159 to Rs 168 per share, with a minimum lot size of 88 shares, requiring an investment of Rs 14,784 for retail investors. Qualified Institutional Buyers (QIBs) can apply for 18,71,000 shares (19.89%), while Non-Institutional Investors (NIIs) are allocated 14,03,250 shares (14.92%). Additionally, 50,000 shares are reserved for employees at a discount of Rs 8 per share.
Founded in 1982, Diffusion Engineers specialises in manufacturing welding consumables and heavy machinery for core industries. The company has four manufacturing units in Nagpur, producing a variety of products, including welding electrodes and wear plates. Diffusion Engineers reported a 10% increase in revenue and a 39% rise in profit after tax for the fiscal year ending March 31, 2024.
The latest Grey Market Premium (GMP) for the IPO stands at Rs 64, with an estimated listing price of Rs 232, indicating a potential gain of 38.10%.
For those interested in checking their allotment status, the information will be available starting October 1, 2024. Diffusion Engineers IPO allotment status is not available at this time and will be available upon finalisation. The Investors can verify their allotment by entering their PAN number, application number, or DP Client ID on the designated platform. Upon securing the allotment, you will receive the credit of equivalent shares in your Demat account.
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The funds raised will be used for funding capital expenditure requirements towards the expansion of existing manufacturing facility at Khasra in Maharashtra, setting up of a new (proposed) manufacturing facility located at MIDC, Hingna, Sonegaon district, in Maharashtra, working capital requirements, and general corporate purposes.
