Diffusion Engineers IPO Oversubscribed 7.15 Times

New Delhi, Sep 26 (PTI) The initial share sale of Diffusion Engineers Ltd received 7.15 times subscription on the first day of bidding on Thursday.

The initial public offer received bids for 4,71,77,240 shares against 65,98,500 shares on offer, according to data available with the NSE.

The portion for Retail Individual Investors (RIIs) got subscribed 11.23 times while non-institutional investors quota received 6.79 times subscription. Qualified Institutional Buyers (QIBs) subscribed 3 per cent the offer.

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 NSE and BSE.