Diffusion Engineers Ltd Shares Surge Beyond Expectations

Diffusion Engineers Ltd shares were listed with a premium of over 15% against the issue price and rose to hit the day's upper circuit limit. The stock made a strong debut on both BSE and NSE, with the company valued at Rs 738.61 crore.

Shares of Diffusion Engineers Ltd soared on their debut, listing on Friday with a 15% premium over the issue price of Rs 168. They quickly reached the highest trading permissible limit for the day.

The stock opened at Rs 188 on the BSE, marking an 11.90% increase from its issue price, and later climbed 17.47% to Rs 197.35, reaching the upper circuit limit. On the NSE, it debuted at Rs 193.50, a 15.17% rise, and further jumped 20.93% to Rs 203.17, the highest limit allowed for the day.

Diffusion Engineers Ltd's market valuation is now Rs 738.61 crore after a successful initial public offer, which closed at a subscription rate of 114.50 times on Monday. The company's IPO offered shares at a price range of Rs 159-168 per share. Diffusion Engineers specializes in manufacturing welding consumables, wear plates, wear parts, and heavy engineering machinery for core industries.

(With inputs from agencies.)