Diffusion Engineers stock debuts with 15% premium over issue price
Diffusion Engineers shares debuted on the exchanges on Friday, opening at Rs 193.5 on the NSE, a premium of 15.2% over the issue price of Rs 168. On BSE, the stock listed at Rs 188.
Considering the upper price band of Rs 168, the stock was expected to fetch listing gains of around 35% over the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company’s shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO of Diffusion Engineers received robust response from investors with an overall subscription of nearly 115 times at close.
The company proposes to use the net proceeds from the IPO for funding capital expenditure requirements towards proposed…
