Diffusion Engineers shares list at 12% premium, misses expectations

Shares of Diffusion Engineers Limited made a decent debut on the stock exchanges on Friday, listing at a premium of 12% over its IPO (initial public offering) price.
The shares of Diffusion Engineers opened at Rs 188 on the Bombay Stock Exchange (BSE) marking a premium of 11.90% over its issue price of Rs 168.
On the National Stock Exchange (NSE), Diffusion Engineers shares listed at Rs 193, at a premium of 15.17% over the issue price.
The listing of Diffusion Engineers was below expectations, as its shares were trading at a premium of 35.52% above the IPO issue price in the grey markets before the market debut.
The allotment of shares for the IPO of Diffusion Engineers was finalised on October 1 after receiving huge subscription numbers.
“The P/E valuation of the IPO is deemed reasonable. Those who took part in the initial public offering (IPO) may choose to hold onto their shares while keeping a careful eye on the company’s performance and the state of the market, as well as maintaining a stop loss at the issue price,” said Shivani Nyati, Head of Wealth, Swastika Investmart Ltd.
Diffusion Engineers IPO garnered strong interest from investors, getting over 100 times subscription during the bidding period. The Maharashtra-based company offered its shares at a price band of Rs 159 to 168 per share while it was open for public issue.
The IPO of Diffusion Engineers Limited was open for bidding from September 26, 2024 to September 30, 2024, looking to raise Rs 158 crore.
Diffusion Engineers IPO saw a strong response, with overall subscriptions reaching 114.50 times.
The retail category was subscribed 85.61 times, the Qualified Institutional Buyers (QIB) segment saw 95.74 times the demand, and the Non-Institutional Investors (NII) category was oversubscribed by 207.60 times as of September 30, 2024.