Thu Sep 26 08:44:48 UTC 2024: ## Diffusion Engineers IPO Opens for Subscription, Aims to Raise Rs 158 Crore

**Mumbai, September 26, 2024:** Diffusion Engineers, a leading player in the heavy engineering capital goods industry, has opened its initial public offering (IPO) for subscription today. The company aims to raise Rs 158 crore through the issuance of 94 lakh fresh shares. The IPO is entirely a fresh issue and will close on September 30, 2024.

The price band for the IPO has been set between Rs 159 and Rs 168 per share. Investors can apply for a minimum lot of 88 shares, requiring a retail investment of Rs 14,784. The Grey Market Premium (GMP) for the IPO currently stands at Rs 80, indicating an expected listing price of Rs 248 and a potential gain of 47.62% per share.

Diffusion Engineers intends to utilize the funds raised from the IPO to expand its operations into the manufacturing of nickel, cobalt, and iron-based powder for enhanced welding consumables. The company also aims to expand its geographical reach and increase exports through subsidiaries and joint ventures.

According to a report by Master Capital Service Ltd, India’s heavy engineering capital goods industry is estimated to be worth Rs 3,100-3,200 billion as of fiscal 2024 and is projected to grow at a CAGR of 7.5-8.5% over the next four years. Diffusion Engineers aims to capitalize on this growth by diversifying its Anti Wear Solutions and Heavy Engineering Equipment business into new industries.

“Investors looking to invest can consider the IPO for the medium to long term,” said Master Capital Service Ltd.

The allotment of shares is expected to be finalized on October 1, 2024, with the shares tentatively scheduled to list on BSE and NSE on October 4, 2024.

**Disclaimer:** The views expressed in this article are those of the author and do not reflect the views of the India Today Group. It is advisable to consult a qualified financial advisor before making any investment decisions.

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