The share of Diffusion Engineers Limited was listed on the National Stock Exchange (NSE) at ? 193, 15.17% above the issue price. On the Bombay Stock Exchange (BSE), the share was listed at ? 188, 11.90% above the issue price. 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. The retail category was subscribed 85.61 times, Qualified Institutional Buyers (QIB) 95.74 times and Non-Institutional Investors (NII) category 207.60 times. The issue of Diffusion Engineers was worth ? 158 crores
This issue of Diffusion Engineers was worth a total of ? 158 crores. For this, the company issued 9,405,000 fresh shares worth ?158 crores. The existing investors of the company did not sell a single share through Offer for Sale i.e. OFS. Retail investors could bid for a maximum of 845 shares. Diffusion Engineers Limited had fixed the price band of the IPO from ?159 to ?168. Retail investors could bid for at least one lot i.e. 88 shares. If you applied for 1 lot as per the upper price band of the IPO of ?168, then you would have to invest ?14,784 for it. 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% was reserved for retail investors and the remaining 15% for non-institutional investors (NII). Diffusion Engineers was established in 1982
Diffusion Engineers Limited was established in 1982. The company provides a variety of welding related services and manufactures heavy equipment. Diffusion Engineers provides its services in 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 an IPO?
When a company issues its shares to the general public for the first time, it is called an 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 by issuing new shares. For this, the company brings IPO.
