Diffusion Engineers Closes 21% Higher On Stock Market Debut; Check More Details Here

Diffusion Engineers Closes 21% Higher On Stock Market Debut; Check More Details Here

The first day of trading saw considerable activity, with over 28 lakh shares traded on the NSE and 1.62 lakh shares changing hands on the BSE.

Oliviya KunjumonUpdated: Friday, October 04, 2024, 06:58 PM IST
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Diffusion Engineers Closes 21% Higher On Stock Market Debut; Check More Details Here | Representative Image

Diffusion Engineers Limited made a debut on the stock exchanges on Friday (October 4), closing with a 21% premium on its first day of trading.

The company’s shares listed at Rs 188 on the BSE, 11.90 per cent premium, and Rs 193.50 on the NSE, a 15.18 per cent premium.

By the end of the day, the stock price had surged further, closing at Rs 197.35 on the BSE (17.47 per cent premium) and Rs 203.17 on the NSE (20.93 per cent premium).

The Market Capitalisation of the Company at today’s closing price stood at Rs 738.61 Crore as per BSE and Rs 760.39 Crore as per NSE.

Share performance

Share performance | NSE

Trading Activity on Day 1

The first day of trading saw considerable activity, with over 28 lakh shares traded on the NSE and 1.62 lakh shares changing hands on the BSE.

The combined turnover across both exchanges amounted Rs 58.68 crore.

Prashant Garg, Chairman and Managing Director of Diffusion Engineers, said, "We are immensely grateful to all our investors for their trust and support as we take this significant step in our journey by listing today. Your belief in our vision and commitment to our growth has been invaluable. This milestone is not just a reflection of our achievements, but also a promise to continue delivering value and excellence. Together, we look forward to a future filled with opportunities and success."

Subscription Figures

Diffusion Engineers’ IPO, open from September 26 to September 30, The offer, which aimed to raise Rs 158 crore, was subscribed 114.50 times.

The Qualified Institutional Buyer (QIB) portion was subscribed 95.74 times, the Non-Institutional Investor (NII) portion by 207.60 times, and the retail portion by 85.61 times.

Even the employee category saw substantial interest with a subscription of 95.05 times.

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