Diffusion Engineers' IPO Oversubscribed 27.17 Times on Day Two

The initial public offer (IPO) of Diffusion Engineers Ltd was highly successful, being subscribed 27.17 times by the second day. The IPO saw bids for 17.93 million shares against the 6.6 million shares available, with significant interest from non-institutional and retail investors. The shares are set to be listed on NSE and BSE.

The initial public offer (IPO) of Diffusion Engineers Ltd saw a tremendous response, being subscribed 27.17 times on the second day of bidding, according to NSE data.

The IPO attracted bids for 17,93,02,816 shares compared to the 65,98,500 shares available for sale. Non-institutional investors led the charge with a 47.06 times subscription, followed by retail individual investors (RIIs) at 33.88 times, and qualified institutional buyers (QIBs) with a 28% subscription rate.

The price range for the IPO is set at Rs 159-168 per share. Diffusion Engineers, which manufactures welding consumables, wear plates, wear parts, and heavy engineering machinery, raised Rs 47.14 crore from anchor investors. Unistone Capital Private Limited is managing the offer, and the shares are anticipated to be listed on NSE and BSE.

(With inputs from agencies.)