Diffusion Engineers Ltd Share Price – NSE /  BSE

Capital Goods-Non Electrical Equipment, Small Cap

Diffusion Engineers will hold a meeting of the Board of Directors of the Company on 12 November 2024

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Unichem Laboratories Ltd, Talbros Automotive Components Ltd, Saurashtra Cement Ltd and Tainwala Chemicals & Plastics (India) Ltd are among the other gainers in the BSE's 'B' group today, 22 October 2024.

Diffusion Engineers Ltd spiked 17.14% to Rs 477.65 at 12:02 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 1.94 lakh shares were traded on the counter so far as against the average daily volumes of 82149 shares in the past one month.

Unichem Laboratories Ltd surged 14.30% to Rs 868.05. The stock was the second biggest gainer in 'B' group. On the BSE, 25872 shares were traded on the counter so far as against the average daily volumes of 4687 shares in the past one month.

Talbros Automotive Components Ltd soared 12.24% to Rs 328.75. The stock was the third biggest gainer in 'B' group. On the BSE, 85315 shares were traded on the counter so far as against the average daily volumes of 12100 shares in the past one month.

Saurashtra Cement Ltd added 10.21% to Rs 119.85. The stock was the fourth biggest gainer in 'B' group. On the BSE, 73119 shares were traded on the counter so far as against the average daily volumes of 19347 shares in the past one month.

Tainwala Chemicals & Plastics (India) Ltd advanced 6.71% to Rs 299. The stock was the fifth biggest gainer in 'B' group. On the BSE, 18338 shares were traded on the counter so far as against the average daily volumes of 8268 shares in the past one month.

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Diffusion Engineers will hold a meeting of the Board of Directors of the Company on 24 October 2024.

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The scrip was listed at Rs 188, exhibiting a premium of 11.9% to the issue price.

So far, the stock has hit a high of 197.35 and a low of 188. On the BSE, over 1.33lakh shares of the company were traded in the counter so far.

The initial public offer (IPO) of Diffusion Engineers was subscribed 54.24 times. The issue opened for bidding on 26 September 2024 and it closed on 30 September 2024. The price band of the IPO was fixed between Rs 159 to 168 per share.

The IPO comprises fresh issue of equity shares of 9405000 equity share of Rs 10 face value.

Of the net proceeds from the fresh issue, about Rs 71.38 crore will be used for funding capital expenditure requirements towards expansion of its existing manufacturing facility Unit IV at Khapri (Uma) in Nagpur, Rs 30.385 crore towards setting up of a new manufacturing facility located at Hingna in Sonegaon District of Maharashtra, Rs 22 crore towards funding working capital requirements of the company and balance for general corporate purposes.

Ahead of the IPO, Diffusion Engineers on Thursday, 5 September 2024, raised Rs 47.14 crore from anchor investors. The board allotted 28.06 lakh shares at Rs 168 each to 5 anchor investors.

Diffusion Engineers, promoted by Prashant Garg, manufactures welding consumables, wear plates and wear parts and heavy engineering machinery for core industries. It provides specialized repairs and reconditioning services for heavy machinery and equipment and trades anti-wear powders and welding and cutting machinery.

The company provides super conditioning process at its manufacturing facilities, a surface treatment solution for machine components that enhances wear resistance, eliminates stress and improves their repairability ultimately extending their lifespan and reducing production costs.

The firm reported a consolidated net profit of Rs 30.80 crore and sales of Rs 278.14 crore for the twelve months ended on 31 March 2024.

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