Explosive Demand: Diffusion Engineers Ltd IPO Oversubscribed on Day One
Diffusion Engineers Ltd's initial public offering (IPO) saw robust demand, with a subscription rate of 7.15 times on the first day. The IPO received significant interest from Retail Individual Investors, non-institutional investors, and Qualified Institutional Buyers. The equity shares will be listed on NSE and BSE.
- Country:
- India
The initial share sale of Diffusion Engineers Ltd saw overwhelming demand, recording 7.15 times subscription on the first day of bidding on Thursday.
According to NSE data, the IPO received bids for 4,71,77,240 shares against the 65,98,500 shares available.
Retail Individual Investors (RIIs) led the charge with 11.23 times subscription, non-institutional investors followed with 6.79 times, and Qualified Institutional Buyers (QIBs) subscribed to 3 per cent of the offer.
The price range for the offer is set between Rs 159-168 per share.
Diffusion Engineers, manufacturers of welding consumables and heavy engineering machinery, raised Rs 47.14 crore from anchor investors.
Unistone Capital Private Limited is managing the offer, and the equity shares are expected to be listed on the NSE and BSE.
Google News