Final Day! Diffusion Engineers IPO ends today: GMP up 34%; should you bid?
Source: Business Standard
Diffusion Engineers IPO GMP: The grey market premium (GMP) for Diffusion Engineers’ initial public offering (IPO) remains strong on its final subscription day. The IPO, which opened on Thursday, September 26, 2024, closes today. According to sources monitoring grey market activity, unlisted shares of Diffusion Engineers are trading at a premium of Rs 58, representing a 34.52 per cent surge over the IPO’s upper price band of Rs 168.
Diffusion Engineers IPO subscription details
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Diffusion Engineers IPO details
Diffusion Engineers IPO is available at a price band of Rs 159-168, and a lot size of 88 shares. Accordingly, investors can bid for a minimum of 88 shares of Diffusion Engineers IPO, and in multiples thereof. A retail investor requires a minimum amount of Rs 14,784 to bid for one lot or 88 shares of the IPO.
The basis of allotment of Diffusion Engineers shares is expected to take place on Tuesday, October 1, 2024, and subsequently, the company’s shares will be credited into demat accounts on Thursday, October 3, 2024.
Diffusion Engineers shares are expected to list on the BSE and NSE on Friday, October 4, 2024. Diffusion Engineers intends to use the net proceeds from the IPO for funding capital expenditure requirements, setting up a new manufacturing facility, as well as for general corporate purposes.
Unistone Capital is the sole book-running lead manager of the Diffusion Engineers IPO, while Bigshare Services is the registrar for the public issue.
Should you subscribe to Diffusion Engineers IPO?
About Diffusion Engineers
Diffusion Engineers is engaged in the business of providing engineering solutions to customers both in domestic and international markets. The company has been in existence for over four decades and provides a wide range of products and services, including the manufacture of special welding consumables, wear plates, and heavy engineering equipment for core industries, as well as repairs and reconditioning services of heavy machinery and equipment.
First Published: Sep 30 2024 | 11:26 AM IST
