Diffusion Engineers Shares Soar on Debut

4 Oct 2024 , 03:19 PM

Following the listing, the company’s shares rose further 5% to trade at Rs 197.3, compared to the offer price of Rs 168.

Diffusion Engineers’ IPO received a strong response from investors, with an overall subscription rate of approximately 115 times at closing.

In fiscal year 2024, the company’s consolidated revenue from operations increased 10% year on year to Rs 285 crore, owing mostly to an increase in revenue from welding consumables, wear plates, and trade activities. Net profit for the same time rose 39% year on year to Rs 30.8 crore.

The firm intends to use the net proceeds from the IPO to cover capital expenditures for the proposed expansion of its present production facility, the establishment of a new manufacturing site in Hingna, working capital requirements, and other general corporate reasons.

Diffusion Engineers provides engineering solutions to customers both domestically and internationally.

Over its more than 40-year history, it has expanded its portfolio to include a wide range of products and services such as the manufacture of specialised welding consumables, wear plates, and heavy engineering equipment for critical sectors.

The company also provides customised repairs and reconditioning services for heavy machinery and equipment. In addition to its primary capabilities, the company sells anti-wear powders, welding and cutting machinery.

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