Diffusion Engineers enters the upper circuit following its 15.1 percent premium NSE listing. Diffusion Engineers' stock soars 5% above the market after making a solid start on the NSE and BSE. At 11:30 a.m., the NSE opened at Rs 193.50 per share, which was 5% higher than the closing price of Rs 203.17 per share.

Meanwhile, the stock is trading at Rs 197.35 a share on the BSE, up 4.97% from its opening price of Rs 188.

Listing of the Initial Public Offering

Diffusion Engineers had an impressive beginning on the stock markets. The stock launched on the NSE for Rs 193.5 per share, which was 15.1% higher than the issue price.

On the BSE, shares went public for Rs 188 per share, up 11.9% from the IPO price band's upper range of Rs 168.

Subscription to IPO across all categories

Diffusion Engineers' first public offering received an overwhelming positive response from investors. The IPO was oversubscribed 114 times, owing mostly to strong demand from non-institutional investors (NIIs). In contrast to the Rs 158 crore offering size, the IPO received bids worth more than Rs 12,600 crore.

The Diffusion Engineers IPO was reserved for non-institutional investors (NIIs) more than 207.6 times, with a demand of 29.13 crore shares vs 14.03 lakh shares granted to this group. Applications for 28 crore shares were received for the retail component of the IPO, which was booked 85.61 times more than the authorized 32.74 lakh.

Company's financials

Between FY22 and FY24, Diffusion Engineers' operational revenue climbed by 10.8 percent CAGR, while net profit increased by 21.9% CAGR. Furthermore, the welding consumables market in India is expected to increase at a CAGR of almost 9% from FY24 to FY27.