New Delhi: The IPO of Diffusion Engineers Ltd was oversubscribed by 27.17 times on the second day of bidding. According to data from NSE, the IPO received offers for 17,93,02,816 shares, surpassing the 65,98,500 shares available for sale.
Non-institutional investors' quota was oversubscribed by 47.06 times, whereas retail individual investors' category was oversubscribed by 33.88 times. 28 percent of subscriptions were acquired by qualified institutional buyers (QIBs) for that segment. The offer is priced between Rs 159 and Rs 168 per share.
Diffusion Engineers, involved in producing welding consumables, wear plates & wear parts, and heavy engineering machinery for core industries, has raised Rs 47.14 crore from anchor investors. Unistone Capital Private Limited is in charge of managing the offer. It is suggested that the equity shares will be listed on both the NSE and BSE.
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