IPO News :Diffusion Engineers’ Initial Public Offering (IPO) has opened for subscription today on 26 September 2024. One can invest in it till 30 September. The size of the IPO is Rs 158 crore. It is a completely equity fresh issue. There is no offer for sale in it. The company has fixed the price band for its IPO at Rs 159-168 per share. The company’s shares will be listed on BSE and NSE on October 4.
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Diffusion Engineers : IPO Details
IPO Open Date: September 26, 2024
IPO Close Date : September 30, 2024
Face Value: Rs 10 per equity share
IPO Price Band: Rs 159 to Rs 168 per share
Issue size: Rs 158 crore
1 lot size : 88 shares
Minimum investment: Rs 14784
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IPO Gross Domestic Product (GDP) : 48%
There is a craze in the grey market regarding the IPO of Diffusion Engineers. The unlisted stock of the company is at a premium of Rs 80 in the grey market. Whereas the upper price band in the IPO is Rs 168. In this regard, the stock is expected to be listed at Rs 248, which is a 48 percent premium.
company business
Diffusion Engineers was incorporated in 1982 and is engaged in the business of manufacturing welding consumables, wear plates and wear parts and heavy engineering machinery for core industries. The company at its manufacturing facility offers superconditioning process, surface treatment solutions for machine components that enhance wear resistance, reduce stress and improve repairability thereby increasing their life span and reducing production cost. Currently, the company operates from four manufacturing units. Out of these, Units I, II and III are located at Nagpur Industrial Area, Nagpur while Unit IV is located at Khapri, Nagpur.
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However, the company is dependent on the domestic market for its sales. Any decline in this may impact the market share. The company has had negative cash flow in some financial years. The company’s business is working capital intensive. Any inadequate cash flow from its operations or inability to borrow to meet its working capital requirements may adversely impact its business and operations.
How much reserve for whom
In the IPO of Diffusion Engineers, 35 percent quota is reserved for retail investors. At the same time, 50 percent quota is reserved for Qualified Institutional Buyers i.e. QIB. While 15 percent share is reserved for non-institutional investors i.e. NII.
