Diffusion Engineers IPO Oversubscribed 114.50 Times

New Delhi, Sep 30 (PTI) The initial public offer of Diffusion Engineers Ltd got subscribed 114.50 times on the last day of bidding on Monday.

The initial share sale received bids for 75,55,15,992 shares against 65,98,500 shares on offer, as per NSE data.

The portion for non-institutional investors garnered a whopping 207.60 times subscription while Qualified Institutional Buyers (QIBs) subscribed 95.74 times the offer. The category for Retail Individual Investors (RIIs) fetched 85.61 times subscription.

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.