Diffusion Engineers Ltd IPO Oversubscribed by 114.50 Times on Final Day

Diffusion Engineers Ltd's initial public offering was oversubscribed by 114.50 times on the final day of bidding. The company received bids for over 75 million shares against an offer of approximately 6.6 million shares. Non-institutional investors showed massive interest, with a subscription rate of 207.60 times.

The initial public offering (IPO) of Diffusion Engineers Ltd has been oversubscribed by an astonishing 114.50 times on the last day of bidding, highlighting strong investor interest. According to the National Stock Exchange (NSE) data, the IPO received bids for 75,55,15,992 shares, vastly outnumbering the 65,98,500 shares on offer.

Non-institutional investors demonstrated significant appetite, subscribing 207.60 times the offered shares. Qualified Institutional Buyers (QIBs) subscribed 95.74 times, while Retail Individual Investors (RIIs) subscribed 85.61 times. The price range for the shares was set between Rs 159 and Rs 168 per share.

Diffusion Engineers is known for manufacturing welding consumables, wear plates & wear parts, and heavy engineering machinery for core industries. The IPO also attracted Rs 47.14 crore from anchor investors, and was managed by Unistone Capital Private Limited. The equity shares are set to be listed on both the NSE and BSE.

(With inputs from agencies.)