Sep 26, 2024
By: Sourabh Jain
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Maharashtra-based Diffusion Engineers’ initial public offering (IPO) is now open and will close on Monday, September 30.
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Diffusion Engineers has fixed a price band of ₹159-₹168 per share for its public issue.
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Diffusion Engineers is a Maharashtra-based manufacturer of welding consumables, wear plates and parts.
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Diffusion Engineers is looking to raise ₹158 crore from the current IPO. This is a completely fresh issue and there is no offer for sale (OFS) component.
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Investors can bid for a minimum of 88 shares and in multiples of 88 shares thereafter.
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Diffusion Engineers, founded in 1982 manufactures welding consumables, wear plates and parts. It has four manufacturing plants in Nagpur.
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The company’s income was ₹285.56 crore in FY24, up from ₹258.67 crore in FY23. The company reported a profit of ₹30.8 crore in FY24, up from ₹22.15 crore profit reported in FY23.
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The company is dependent on select customers for the bulk of its orders. It is engaged in a working capital intensive business.
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The company currently enjoys a grey market premium (GMP) of ₹75 per share.
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