Retail investors will buy 35 percent of the Diffusion Engineers Limited IPO. The price band of Diffusion Engineers IPO has been set at ₹159 to ₹168.The issue shares are getting a good response in the gray market.
New Delhi. Diffusion Engineers Limited, a company that manufactures welding equipment, wear plates and parts and heavy machinery for the primary industry, will open its initial public offering (IPO) on September 26. Investors will be able to bid for shares in the issue till September 30. On October 4, the company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Diffusion Engineers’ IPO is getting a good response in the gray market as well. The unlisted shares of the issue are trading at a premium of 39 per cent (Diffusion Engineers IPO GMP).
Diffusion Engineers Limited intends to raise a total of ₹ 158 crore from the market through this IPO. For this the company is issuing 9,405,000 new shares. Existing investors of the company are not selling a single share through the Offer for Sale i.e. OFS. The IPO price band has been fixed at Rs 159 to Rs 168.
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You have to invest a minimum of Rs 14,784.
Diffusion Engineers Limited has set an IPO price band of ₹159 to ₹168. A retail investor can bid for at least one lot. There are 88 shares in a lot. Thus, as per the upper issue price band of Rs 168, at least Rs 14,784 will have to be invested in the IPO. Retail investors can apply for a maximum of 13 lots ie 1144 shares. For this, investors have to invest ₹ 192,192 as per the upper price band.
35 percent is reserved for retail investors.
50% of Diffusion Engineers Limited IPO is earmarked for Qualified Institutional Buyers (QIB). At the same time, 35 percent is reserved for retail investors and the remaining 15 percent for non-institutional investors (NII).
Diffusion Engineers IPOGMP
According to IPOwatch.com, a gray market monitoring website, Diffusion Engineers’ IPO shares are getting a good response in the gray market. The company’s unlisted shares are trading at Rs 65, or a 39 per cent premium, on the gray market. According to the gray market, the listing issue price of the IPO could be Rs 133 against Rs 168.
Company profile
Diffusion Engineers Limited was established in 1982. The company provides a variety of welding services and manufactures heavy equipment. The company also deals in wear protection powders and welding and cutting machines. Diffusion Engineers Limited has four manufacturing units located in Maharashtra. In FY24, the company’s revenue was Rs 285.56 crore and profit after tax was Rs 30.8 crore.
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Tags: business news, IPO, Money making tips, Stock market
First Publication: September 24, 2024, 10:26 IST
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