Diffusion Engineers files draft papers with SEBI to raise funds via IPO

livemint.com:

Shri Balaji Valve Components IPO allotment finalised: Latest GMP, here's how to check allotment status The IPO exclusively involves a fresh issue of up to 98,47,000 equity shares, each with a face value of ₹10, as outlined in the draft red herring prospectus (DRHP) filed on December 27. According to the draft documents, the funds raised from the offering will be allocated by the company for the expansion of its current manufacturing facility and the establishment of a new manufacturing facility in Maharashtra. Also read: Kay Cee Energy & Infra IPO: Check GMP, subscription status on day 3, other key details The generated funds will also be allocated to meet working capital needs and support general corporate objectives.

Established in 1982, Diffusion Engineers specializes in delivering engineering solutions to clients in both domestic and international markets. Headquartered in Nagpur, the company offers an extensive array of products and services. These include the production of specialized welding consumables, manufacturing wear plates and heavy engineering equipment.

Additionally, Diffusion Engineers provides tailored repair and reconditioning services for heavy machinery and equipment. Also read: Esconet Technologies files DRHP with SEBI for NSE SME listing Welding consumables market in India is estimated at around ₹46 billion in fiscal 2023, with fiscal 2026 projections around Rs 58 -60 billion. Due to the rise in demand for improved infrastructure, a lot of investment is happening in infrastructure development, such as construction of roads, bridges, ports and airports.