Diffusion Engineers IPO Subscription Details on Day 2, September 27, 2024

27 Sep 2024 , 01:52 PM

Diffusion Engineers IPO opened for subscription on Thursday, September 26, 2024, and was fully booked on the first day itself.

On the second day of subscription, as of 1:47 pm, the Retail Individual Investors (RIIs) bid 24.05 times, while Non-Institutional Investors (NIIs) placed bids 24.92 times. The Qualified Institutional Buyers (QIBs) quota saw 0.03 times subscription, and the Employees category was oversubscribed 0.06 times.

The IPO price band is set at ₹159-₹168 per share, with a lot size of 88 shares. Investors can bid in multiples of 88.

Unistone Capital is the sole book-running lead manager, while Bigshare Services serves as the registrar for the issue. Net proceeds from the IPO will be used for capital expenditure, establishing a new manufacturing facility, and for general corporate purposes.

The share allotment will occur on Tuesday, October 1, 2024, with shares credited to demat accounts by Thursday, October 3, 2024. Diffusion Engineers shares are expected to list on the BSE and NSE on Friday, October 4, 2024.

Diffusion Engineers Limited provides engineering solutions domestically and internationally, specializing in special welding consumables, wear plates, heavy engineering equipment, and offering custom repair services.