Diffusion Engineers IPO: The initial public offering (IPO) of heavy welding consumable items maker Diffusion Engineers Limited was oversubscribed by over 114 times on the third and last day of issue. The mainboard IPO of the Nagpur-based company opened for subscription on Thursday, September 26, 2024, and closed on Monday, September 30, 2024.
Diffusion Engineers aims to raise ₹158 crore by issuing fresh shares. The company has reserved not more than 20 per cent of the shares in the public issue for qualified institutional buyers (QIB), not less than 15 per cent for non-institutional institutional investors (NII), and nearly 35 per cent of the offer is reserved for retail investors. Fifty per cent was reserved for anchor investors.
Diffusion Engineers IPO Subscription Status
On the third and final day of issue, Diffusion Engineers IPO was subscribed 7.16 times. According to BSE data, the portion reserved for QIBs was booked only 0.03 per cent, the portion reserved for NIIs was booked 6.80 times, and the portion reserved for retail investors was booked the highest at 11.24 times. The IPO received 4,72,31,624 share applications against 65,98,500 shares offered on Thursday.
