The eagerly awaited allotment results for the Diffusion Engineers Limited IPO are set to be finalized. This initial public offering (IPO) has generated substantial interest, with a staggering subscription rate of 114.5 times during its bidding period from September 26 to September 30, 2024. The company aimed to raise ₹158 crore through this IPO, which consists solely of a fresh issue of shares priced between ₹159 and ₹168 per equity share.
Main Points
Subscription Details
The Diffusion Engineers IPO received overwhelming demand from investors, with total bids amounting to approximately ₹12,692.67 crore. Specifically, the retail portion was subscribed 85.61 times, while the non-institutional investor segment saw an astonishing 207.60 times subscription. Qualified Institutional Buyers (QIBs) also showed strong interest, subscribing 95.74 times the offered shares. This high level of interest highlights the market’s confidence in Diffusion Engineers as a viable investment opportunity.
How to Check Allotment Status
Investors can check their allotment status through two primary channels: the registrar’s website and the Bombay Stock Exchange (BSE) website.
- Visit the Bigshare Services website.
- Click on the IPO allotment status box.
- Choose one of the three servers.
- Enter your details: company name, application number, Beneficiary ID, or PAN number.
- Complete the captcha and click “Search” to view your allotment status.
Steps to Check on BSE:
- Go to the BSE website.
- Select “Equity” in the Issue Type dropdown.
- Choose “Diffusion Engineers Limited” from the dropdown menu.
- Enter your application number or PAN.
- Complete the captcha and click “Search.”
The shares will be credited to successful allottees’ Demat accounts by October 3, with refunds initiated for unsuccessful applications on the same date.
Company Overview
Founded in 1982, Diffusion Engineers specializes in manufacturing welding consumables, wear plates, and parts for heavy machinery used in core industries. The company also offers repair and reconditioning services for heavy equipment and trades in wear protection powders and welding machines. With four manufacturing units located primarily in Nagpur, Maharashtra, Diffusion Engineers is well-positioned within its sector.
Upcoming Milestones
The listing of Diffusion Engineers shares is expected on both BSE and NSE on October 4, 2024. The minimum investment required for retail investors is approximately ₹14,784, which corresponds to a lot size of 88 shares.
Market Context
The strong demand for Diffusion Engineers’ IPO comes amid a fluctuating market environment influenced by various geopolitical factors and economic indicators. Despite some recent corrections in secondary markets, investor appetite for well-structured IPOs remains robust.
Key Dates:
- IPO Open Date: September 26, 2024
- IPO Close Date: September 30, 2024
- Allotment Date: October 1, 2024
- Credit of Shares: October 3, 2024
- Listing Date: October 4, 2024
