Diffusion Engineers announces price band for Rs 158 crore IPO. Check details
Diffusion Engineers will open for subscription on September 26. The issue, which closes on September 30, is completely a fresh equity sale of 94.05 lakh shares.
The company has fixed a price band of Rs 159-158 per share for the Rs 158 crore public offer. Investors can bid for a minimum of 88 shares in one lot and in multiples thereafter.
The issue is being made through the book-building process, wherein 50% of the offer will be available for allocation on a proportionate basis to qualified institutional buyers (QIB), 15% to non-institutional investors, and 35% to retail investors.
The company proposes to use the net proceeds from the IPO for funding capital expenditure requirements towards proposed expansion of its existing manufacturing facility, setting up of a new manufacturing facility at Hingna, working capital requirements, and other general corporate purposes.
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