The Initial Public Offering (IPO) of Diffusion Engineers Limited on the final day of bidding saw a subscription rate of 114.50 times.
The IPO offered 65,98,500 equity shares, and on the day 3 or final day of bidding, the public issue attracted bids for a staggering 75,55,14,936 shares.
The price band for the issue was set between Rs 159 and Rs 168.
Subscription breakdown
Among the various investor categories, the Non-Institutional Investors (NII) portion saw the highest interest, being subscribed 207.60 times.
Retail investors portion was subscribed 85.61 times.
The Qualified Institutional Buyers (QIB) category was subscribed 95.74 times, while the Employee Reserved portion recorded a subscription of 95.05 times.
Photo credit: Freepik
Day-by-Day Subscription Overview
Day 1: The IPO kicked off with subscription rate of 7.16 times on the first day. The issue saw bids for 4,72,31,624 shares against the 65,98,500 shares on offer.
Day 2: On the second day, the IPO was subscribed 27.19 times. Non-Institutional Investors and the Employee category drove the bulk of the demand, with bids for 17,94,34,464 shares.
IPO/ Representative Image | Freepik
Key Players in the IPO Process
Unistone Capital Private Limited acted as the sole book-running lead manager for the IPO, while Bigshare Services Private Limited managed the registrar duties.
The equity shares will be listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) following the conclusion of the IPO process.
Anchor Investors
Even before the public issue opened, the company received Rs 47.14 crore from anchor investors. Some of the key institutions that participated in the anchor round were HDFC Mutual Fund, 3P India Equity Fund (backed by Prashant Jain), Saint Capital Fund, and Craft Emerging Market Fund PCC - Elite Capital Fund.
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