Diffusion Engineers lists at 15% premium on NSE

4 Oct 2024 , 09:58 AM

The shares of Diffusion Engineers made debut at 15% premium on the bourses. The shares get listed at ₹193.50 on NSE, at a premium of 15.18% and at ₹188 on BSE with 11.90% up from the issue price of ₹168 per share.

The ₹158-crore initial public offering (IPO) of Diffusion Engineers was subscribed 114.5 times during the period from September 26-30, reflecting strong demand from all investor categories. Non-institutional investors (NIIs) led the interest, subscribing 207.60 times the portion reserved for them. Qualified institutional buyers (QIBs) and retail investors also showed significant enthusiasm, with the issue being subscribed 95.74 times and 85.61 times, respectively, for their allotted quotas.

The IPO was entirely a fresh issue, meaning that all proceeds went directly to the company. Diffusion Engineers specializes in manufacturing welding consumables, wear plates, and heavy machinery for industries such as cement, steel, power, mining, and oil & gas.

Wear plates are a key component in the production of industrial equipment used in these core sectors. As India’s infrastructure sector continues to grow, experts anticipate a rise in demand for welding consumables used in the construction of roads, bridges, ports, and airports.

In addition to manufacturing, the company offers specialized repair and reconditioning services for heavy machinery and equipment. It is also involved in the trading of anti-wear powders and welding and cutting machinery, further diversifying its business offerings.