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Diffusion Engineers IPO is a book-built issue of Rs 158.00 crores. The issue is entirely a fresh issue of 0.94 crore shares.
The IPO opens for subscription on September 26, 2024, and closes on September 30, 2024. The price band is set at ₹159 to ₹168 per share and the minimum lot size for an application is 88 Shares.
Company Summary
Founded in 1982, Diffusion Engineers Limited is active in manufacturing welding consumables, wear plates and parts, and heavy machinery for core industries.
The company offers specialized repair and reconditioning services for heavy machinery and equipment. The company also trades in wear protection powders and welding and cutting machines. At its production facilities, the company offers the Super Conditioning process, a surface treatment for machine components that increases wear resistance, eliminates stresses, and improves repair-ability, ultimately extending service life and reducing production costs.
Diffusion Engineers Limited has four manufacturing units, of which Units I, II, and III are located at Nagpur Industrial Area, Hingna, Nagpur, Maharashtra, and Unit IV at Khapri (Uma), Nagpur, Maharashtra is responsible for the processing and manufacturing of the products.
As of February 29, 2024, the company had a team of over 130 qualified engineers.
Company Financials
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 275.59 | 230.34 | 189.55 |
| Revenue | 285.56 | 258.67 | 208.75 |
| Profit After Tax | 30.8 | 22.15 | 17.05 |
| Net Worth | 190.7 | 142 | 120.65 |
| Reserves and Surplus | 163.03 | 138.39 | 117.34 |
| Total Borrowing | 34.44 | 48.09 | 24.6 |
Amount in ₹ Crore | |||
Objectives of the issue
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
- Funding capital expenditure requirements towards the expansion of existing manufacturing facility at Khasra No. 36, 38/1, 38/2, 38/3, Khapri (Uma), Nagpur- 441 501, Maharashtra, India (Proposed Expansion).
- Setting up of a new manufacturing facility located at Plot Nos. 33-B/1/1/ & 33-B/1/1/Part, MIDC, Hingna, Sonegaon District, Nagpur-440 016, Maharashtra (Proposed Facility).
- Funding working capital requirements of the Company.
- General Corporate Purposes.
Promoters of the Company: Promoters are Prashant Garg, Dr.Nitin Garg, and Chitra Garg. Share Holding Pre Issue is 93.10%
IPO details
| IPO Date | September 26, 2024 to September 30, 2024 |
| Listing Date | Friday, October 4, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹159 to ₹168 per share |
| Lot Size | 88 Shares |
| Total Issue Size | 9,405,000 shares (aggregating up to ₹158.00 Cr) |
| Fresh Issue | 9,405,000 shares (aggregating up to ₹158.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 88 | ₹14,784 |
| Retail (Max) | 13 | 1144 | ₹192,192 |
| S-HNI (Min) | 14 | 1,232 | ₹206,976 |
| S-HNI (Max) | 67 | 5,896 | ₹990,528 |
| B-HNI (Min) | 68 | 5,984 | ₹1,005,312 |
Allotment Schedule
| Basis of Allotment | Tuesday, October 1, 2024 |
| Initiation of Refunds | Thursday, October 3, 2024 |
| The credit of Shares to Demat | Thursday, October 3, 2024 |
| Listing Date | Friday, October 4, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 30, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Offer |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
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