Diffusion Engineers Shares Surge 15% on Debut Trade

New Delhi, Oct 4 (PTI) Shares of Diffusion Engineers Ltd on Friday listed with a premium of over 15 per cent against the issue price of Rs 168 and soon hit the highest trading permissible limit for the day.

The stock made its debut at Rs 188, a jump of 11.90 per cent from the issue price on the BSE. Later, it surged 17.47 per cent to Rs 197.35 -- the upper circuit limit.

At the NSE, it soared 15.17 per cent to Rs 193.50 in debut trade. The stock further jumped 20.93 per cent to Rs 203.17 -- the highest trading permissible limit for the day.

The company's market valuation stood at Rs 738.61 crore.

The initial public offer of Diffusion Engineers Ltd got subscribed 114.50 times on the last day of bidding on Monday.

The offer had a price range of Rs 159-168 per share.

Diffusion Engineers is engaged in the business of manufacturing welding consumables, wear plates & wear parts, and heavy engineering machinery for core industries.