Diffusion Engineers IPO Over-Subscribed 27.17 Times

New Delhi, Sep 27 (PTI) The initial public offer of Diffusion Engineers Ltd was subscribed 27.17 times on day two of bidding on Friday.

The initial share sale received bids for 17,93,02,816 shares against 65,98,500 shares on offer, as per NSE data.

The quota for non-institutional investors fetched 47.06 times subscriptions, while the category for retail individual investors (RIIs) subscribed 33.88 times. The portion for qualified institutional buyers (QIBs) garnered 28 per cent subscriptions.

The price range for the offer is Rs 159-168 per share.

Diffusion Engineers, engaged in the business of manufacturing welding consumables, wear plates & wear parts and heavy engineering machinery for core industries, has garnered Rs 47.14 crore from anchor investors.

Unistone Capital Private Limited is the manager to the offer.

The equity shares are proposed to be listed on the NSE and BSE.