Diffusion Engineers shares made a strong stock market debut in October 4 trade, listing at Rs 193.5 per share on the NSE, at a premium of 15.18 percent over the IPO price. The price range for the offer was Rs 159-168 per share.
On the BSE, the shares listed at Rs 188 apiece, a premium of nearly 12 percent.
Diffusion Engineers shares were commanding a grey market premium of Rs 168 per share in the unlisted market on Friday, according to platforms that track the GMP activities. The listing gains are above than the grey market estimates.
Diffusion Engineers IPO was subscribed 114.50 times on the last day of bidding on 30th September. The initial share sale received bids for 17.93 crore shares against 65.98 lakh shares on offer. The issue garnered Rs 47.14 crore from anchor investors.
Diffusion Engineers is engaged in the business of manufacturing welding consumables, wear plates & wear parts and heavy engineering machinery for core industries.
Shivani Nyati, Head of Wealth, Swastika Investmart Ltd. said "Diffusion Engineers Limited shares made a quiet stock market debut, listing for Rs 193 per share, a significant 15% premium over its issue price of Rs 168."
Business Functions within a burgeoning industry with substantial investments in infrastructure and industrialization. The organization is positioned for future growth by prioritizing forward integration and diversity. shown steady financial growth and expanding profits.
The P/E valuation of the IPO is deemed reasonable. Those who took part in the initial public offering (IPO) may choose to hold onto their shares while keeping a careful eye on the company's performance and the state of the market, as well as maintaining a stop loss at the issue price, she said.
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