The initial public offering of Diffusion Engineers Ltd. was subscribed 114.49 times on Monday, its third and final day of bidding, led by demand from non-institutional investors.
The initial share sale received bids for 75,54,83,608 shares against 65,98,500 shares on offer, as per NSE data.
The portion for non-institutional investors garnered a whopping 207.60 times subscription while Qualified Institutional Buyers (QIBs) subscribed 95.74 times the offer. The category for Retail Individual Investors (RIIs) fetched 85.61 times subscription.
Diffusion Engineers IPO was subscribed 27.19 times on the second day and 7.16 times on the first day of bidding last week.
The company is looking to raise Rs 158 crore and the offering was a fresh issue, with no offer for sale component. The price band was set at Rs 159–168 per share for the issue and the listing is expected to take place on October 4.
Diffusion Engineers, engaged in the business of manufacturing welding consumables, wear plates & wear parts and heavy engineering machinery for core industries, garnered Rs 47.14 crore from anchor investors before the IPO.
Unistone Capital Pvt. Ltd. is the manager to the offer. Diffusion Engineers IPO share allotment is expected to be finalised on October 1. Investors can check the Diffusion Engineers IPO allotment status on the official website of the registrar for the IPO, Bigshare Services Pvt. Ltd. and on the BSE website.
How To Check Diffusion Engineers IPO Allotment Status On Bigshare Services
Visit the official website of Bigshare Services here.
Select any one server to check your IPO Allotment Status.
Choose 'Diffusion Engineers Limited' from the list of companies. (The name will be displayed once the share allocation is finalised)
In the 'Selection Type' dropdown, choose either Application Number, Beneficiary ID, or PAN Number.
Enter the required information and complete the 'captcha' to verify that you are not a robot.
Finally, click the 'Search' button to check your allotment status.
How To Check Diffusion Engineers IPO Allotment Status On BSE Website
Go to the official BSE website at https://www.bseindia.com/investors/appli_check.aspx
Select the issue type as 'Equity.'
Choose 'Diffusion Engineers Limited' from the dropdown menu.
Enter your application number or PAN (Permanent Account Number).
Complete the 'Captcha' for verification.
Click on the 'Search' button to view your allotment status.
Diffusion Engineers IPO GMP Today
The grey market premium of Diffusion Engineers is Rs 66 as of 4:02 p.m. on October 1, implying a 39.29% gain over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 234 per share.
GMP is not an official price quote for the stock and is based on speculation.
About Diffusion Engineers
Incorporated in 1982, Diffusion Engineers manufactures welding consumables, wear plates and wear parts, and heavy engineering machinery for core industries.
The company provides a superconditioning process at its manufacturing facilities, a surface treatment solution for machine components that enhances wear resistance, eliminates stress, and improves repairability, ultimately extending their lifespan and reducing production costs.
The company presently operates from four manufacturing units, out of which units I, II, and III are located in Nagpur Industrial Area, Maharashtra, and Unit IV is located in Khapri (Uma) in Nagpur.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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