Diffusion Engineers Share Price Of Rs 193 On Market Debut  Translates to 15 % Listing Gains For Investors

New Delhi: Diffusion Engineers share price of Rs 188 on stock market debut at Bombay Stock Exchange (BSE) on Friday, October 04, 2024   means listing gains of 12% for Initial Public Offer (IPO) allottees. While, on National Stock Exchange (NSE), Diffusion Engineers share price made debut at Rs 193.50 apiece. Investors made comparatively meager gains by investing in the company’s public issue. Diffusion Engineers IPO price band was Rs 159-168 per share, while the issue price was Rs 168 apiece. The company had raised Rs 158 crore from the stake sale process. The bidding process had opened on September 26 and winded up on September 30.

GMP Falls On Diffusion Engineers Listing Day

Earlier, the firm's shares’ Grey Market Premium (GMP) during the bidding process had signaled even higher gains on listing. But after the public issue was closed for subscription, its GMP fell marginally. As a result, lower gains were made by the investors as compared to earlier estimations made by stock market experts. Otherwise there was slide outside chance of even higher  Diffusion Engineers share price on market debut.

How Will Diffusion Engineers Use IPO Proceeds ?

According to ‘Zee News’ the engineering company had stated earlier that it would use IPO proceeds for general corporate purposes and capital expenditure. The company intends to set up a new manufacturing facility in Hingna, Nagpur. It would also use the money raised to fund capex for expansion of another plant in Khasra, Nagpur.

Diffusion Engineers IPO Subscription Status

After the issue had closed for biddings, Diffusion Engineers  IPO Subscription Status had stood  114x its total size, according to Chittorgarh. Retail investors had oversubscribed the issue 85 times the allotted quota. While, the Non-Institutional Investors’ category was oversubscribed 207 times. Qualified Institutional Investors’ quota on the other hand stood 95 times oversubscribed. Diffusion Engineers share price of Rs 193.50 on debut means the company has missed the GMP hype.

About The Company

Diffusion Engineers is engaged in the business of  providing engineering solutions  to wide range of industries. Some of its products subsume heavy engineering equipment, special welding consumables, wear plates, etc.