Diffusion Engineers listing: Shares debut with 15% gains at Rs 193.5/share

Diffusion Engineers shares in a weak market made its stock market debut today. On the BSE, the stock listed at Rs 188, a premium of 11.9 per cent against the IPO issue price of Rs 168. On the NSE, the stock listed at Rs 193.5, an over 15 per cent gain.

During the IPO period spanning between September 26 and September 30, the company received 114.5 times subscription, led by huge NII subscripton rate of 207.6 times.

Retail investors, meanwhile, subscribed for 85.61 times the quota available for them.

The company's IPO of Rs 158 crore was entirely a fresh issue comprising 0.94 crore equity shares on sale.

The company aims to deploy the proceeds of the issue to fund capital expenditure requirements for the expansion of our existing manufacturing facility at Khasra in Nagpur. Additionally, it will also establish a new manufacturing facility in Hingna, Sonegaon District, Nagpur. Also, the company will finance the working capital requirements of the company and use the corpus for other general corporate purposes.

About Diffusion Engineers 

Diffusion Engineers  manufactures welding consumables, wear plates, and heavy engineering machinery for core industries, and trades in anti-wear powders and welding machinery. It offers a super conditioning process that enhances wear resistance, reduces stress, and improves repairability, extending component lifespan and lowering production costs.