Diffusion Engineers hits the upper circuit following its 15.1 per cent premium NSE listing.
The stock of Diffusion Engineers rises 5 per cent above the market following a respectable debut on the NSE and BSE. At 11:30 am, the opening price of Rs 193.50 per share on the NSE was 5 per cent higher than the closing price of Rs 203.17 per share.
In the meantime, the stock is trading at Rs 197.35 per share on the BSE, up 4.97 per cent from the opening price of Rs 188.
Listing of the IPO
On the exchanges, Diffusion Engineers had a respectable debut. At Rs 193.5 per share, the stock debuted on the NSE, 15.1 per cent higher than the issue price. As for the BSE, shares went public at Rs 188 per share, up 11.9 per cent from the IPO price band's upper limit of Rs 168 per share.
Subscription to IPO in across all categories
Investor response to Diffusion Engineers' IPO was overwhelmingly positive. Due in large part to the robust demand from non-institutional investors (NIIs), the IPO was subscribed over 114 times. In contrast to the Rs 158 crore issue size, the IPO attracted bids totalling over Rs 12,600 crore.
The Diffusion Engineers initial public offering (IPO) was reserved for non-institutional investors (NIIs) more than 207.6 times, with a demand of 29.13 crore shares against the 14.03 lakh shares allotted for this category. Applications for 28 crore shares were received for the retail portion of the IPO, which was booked 85.61 times over the allotted 32.74 lakh shares.
Company financials
Diffusion Engineers' operating revenue increased by 10.8 per cent CAGR between FY22 and FY24, while its net profit increased by 21.9 per cent CAGR during the same period. Furthermore, the welding consumables market in India is projected to expand at a compound annual growth rate (CAGR) of almost 9 per cent from FY24 to FY27.
