Diffusion Engineers GMP 2024 Live Updates: Diffusion Engineers listed at Rs 193.50 on the National Stock Exchange, a premium of 15% to the issue price. The stock listed at a price of Rs 188 on BSE, a premium of 12%. The company’s shares were attracting a premium of 34% in the grey market ahead of listing on October 04, indicating a strong listing. Diffusion Engineers is a manufacturer of welding consumables, wear plates and parts, and heavy machinery for core industries.
Diffusion engineers ltd 2024 Listing GMP Review Subscription Status Live Updates
The stock of Diffusion Engineers closed the first day of trading on a higher note. The stock of the company was frozen at a 5% upper band at Rs 203.17. The stock was listed at a price of Rs 193.50 on NSE.
Garuda Construction and Engineering IPO will open on October 08 and close on October 10. The company will raise a sum of Rs 264.10 crore. The allotment of shares is expected to be finalised on October 11. Garuda Construction IPO will likely list on BSE and NSE on October 15. The company set the IPO price band between Rs 92 to Rs 95 per share.
The stock of Diffusion Engineers was stuck in the upper circuit constantly at a price of Rs 203.15. The company's shares were listed at a price of Rs 193.50 on October 04. The company kept the IPO price band at Rs 168 a piece.
Diffusion Engineers has established itself as a prominent provider of engineering solutions in both domestic and international markets for over 40 years. The company offers a diverse range of products and services, including the manufacture of specialized welding consumables, wear plates, and heavy engineering equipment for core industries.
Additionally, it provides repairs and reconditioning services for heavy machinery and equipment, showcasing its commitment to quality and innovation in the engineering sector.
On the second day of subscription on Tuesday, the Subham Papers IPO received strong interest, being subscribed 3.29 times. This marked a significant increase from its first day of subscription on September 30, when it was subscribed only 0.44 times. The public offer comprises a fresh issue of 61.65 lakh shares, with no portion allocated for sale. The IPO price band is set between Rs 144 and Rs 152 per share, and retail investors can participate with a minimum lot size of 80 shares.
Unistone Capital Pvt Ltd has been appointed as the book running lead manager for the Diffusion Engineers IPO, while Bigshare Services Pvt Ltd will serve as the registrar for the issue.
Swiggy has secured investor approval to increase the size of its Initial Public Offering (IPO), positioning its public market debut to potentially become one of the largest new-age IPOs in India. The overall size of the IPO could reach Rs 10,414 crore ($1.25 billion) or even Rs 11,664 crore ($1.4 billion) if further increases are implemented.
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Non-institutional investors showed significant interest in the Diffusion Engineers IPO, subscribing to 207.60 times their reserved portion. Qualified institutional buyers (QIBs) also exhibited strong demand, with a subscription rate of 95.74 times their allocated quota. Retail investors followed suit, subscribing 85.61 times the shares reserved for them.
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Diffusion Engineers is a manufacturer of welding consumables, wear plates and parts, and heavy machinery for core industries. The company offers specialized repair and reconditioning services for heavy machinery and equipment. The company also trades in wear protection powders and welding and cutting machines.
Commenting on the valuation and outlook Anand Rathi Research Team said that Diffusion Engineers Limited is specialized in manufacturing welding consumables, wear plates and heavy machinery for core industries. It provides repair and reconditioning services for heavy equipment and trades in wear protection powders and welding machines. Over the coming years, the company plans to enhance its service delivery by robust growth and operational efficiency.
The domestic brokerage also added that At the upper price band company is valuing at P/E of 20.4x with a market cap of Rs 6,290 million post issue of equity shares and return on net worth of 18.5%. On the valuation front, we believe that the company is fairly priced. Thus, we recommend a “SUBSCRIBE” rating to the IPO.
The Diffusion Engineers IPO opened on September 26 and will close on September 30, 2024, with a price band set between Rs 159 and Rs 168 per share. The company’s shares are expected to debut on the BSE and NSE on Friday, October 4, 2024.
The IPO consists entirely of a fresh issue of 94,05,000 shares, with a total offering valued between Rs 149.54 crore and Rs 158 crore. The minimum bid size is 88 shares, amounting to Rs 14,784. Of the total shares, 35% have been allocated to retail investors.
Diffusion Engineers has emerged as one of the top three industry players in terms of compound annual growth rate (CAGR) for operating income, profitability, and EBITDA between FY21 and FY24. The company recorded impressive revenue growth, with a CAGR of 16.6% from FY22 to FY24. Its profit after tax (PAT) also surged from Rs 170.5 million in FY22 to Rs 308.0 million in FY24, highlighting its strong financial performance over the period.
Non-institutional investors showed significant interest in the Diffusion Engineers IPO, subscribing to 207.60 times their reserved portion. Qualified institutional buyers (QIBs) also exhibited strong demand, with a subscription rate of 95.74 times their allocated quota. Retail investors followed suit, subscribing 85.61 times the shares reserved for them.
Shares of Diffusion Engineers are set to debut on the stock exchanges on Friday, October 4, 2024, with listings on both the BSE and NSE. Currently, the grey market premium suggests that Diffusion Engineers shares may list at approximately Rs 228, which represents a potential return of over 35% for investors allotted shares in the company’s IPO.