Tue Oct 01 23:20:32 UTC 2024: ## Diffusion Engineers IPO Over-Subscribed by 114 Times, Set for October 4th Listing

**Nagpur, India:** Diffusion Engineers Ltd., a manufacturer of welding consumables and heavy engineering machinery, has seen an overwhelming response to its initial public offering (IPO), with the issue being oversubscribed by 114.49 times on its final day of bidding.

The strong demand was driven by non-institutional investors, who subscribed to the offer 207.60 times. Qualified Institutional Buyers (QIBs) also showed significant interest, subscribing 95.74 times, while Retail Individual Investors (RIIs) subscribed 85.61 times.

The IPO, which aims to raise Rs 158 crore, was subscribed 27.19 times on the second day and 7.16 times on the first day. The company received Rs 47.14 crore from anchor investors prior to the IPO.

The price band for the offer was set at Rs 159–168 per share, with the listing expected on October 4th. The IPO share allotment is expected to be finalised on October 1st. Investors can check their allotment status on the official website of the registrar, Bigshare Services Pvt. Ltd., and on the BSE website.

**Grey Market Premium Shows Strong Anticipation:**

The grey market premium (GMP) for Diffusion Engineers shares currently stands at Rs 66, implying a potential 39.29% gain over the IPO price. This indicates strong investor confidence and anticipation for the listing.

**Company Overview:**

Established in 1982, Diffusion Engineers specializes in manufacturing welding consumables, wear plates and wear parts, and heavy engineering machinery for core industries. The company’s unique superconditioning process, a surface treatment solution for machine components, enhances wear resistance, eliminates stress, and improves repairability, ultimately extending the lifespan of products and reducing production costs.

**Disclaimer:** Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.

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