Diffusion Engineers files IPO papers with Sebi
时间:2024-06-29 02:43:17 阅读(143)
Engineering solutions provider Diffusion Engineers has filed preliminary papers with the capital markets regulator Sebi to raise funds through an initial share sale. The initial public offering (IPO) is purely a fresh issue of up to 98,47,000 equity shares with a face value of Rs 10 each, according to the draft red herring prospectus (DRHP) filed on Dec 27.
Going by the draft papers, proceeds from the issue will be used by the company towards expansion of its existing manufacturing facility and setting up a new manufacturing facility in Maharashtra. Proceeds will also be used towards funding working capital requirements and general corporate purposes.Incorporated in 1982, Diffusion Engineers engaged in the business of providing engineering solutions to customers in domestic and international markets.
Unistone Capital Pvt Ltd is the sole book-running lead manager, while Bigshare Services Pvt Ltd is the registrar for the IPO. The company’s equity shares are proposed to be listed on the BSE and National Stock Exchange (NSE).
Also Read: Zerodha’s Nikhil Kamath tells when to buy stocks, shares Buffett formula to find the right time
FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.
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