During Monday’s trading session, the shares of a recently listed micro-cap company hit a 5 percent upper circuit, to reach a new 52-week high of Rs. 207.2 on BSE, after two domestic institutional investors (DIIs) bought stake worth a total of nearly Rs. 29.5 crores on NSE.
With a market capitalisation of Rs. 775.5 crores, the shares of Diffusion Engineers Limited opened in the green at Rs. 207.2, as against its previous closing price of Rs. 197.35.
What’s the News:
As per the bulk deal data from 4th October available on the NSE, the alternate investment fund 3P India Equity Fund 1 acquired nearly 11 lakh equity shares, equating to a 2.94 percent stake, in Diffusion Engineers for approximately Rs. 22.3 crores, at an average price of Rs. 202.76.
According to the October 2024 shareholding pattern, 3P India Equity Fund 1 already held about 8.92 lakh equity shares, representing a 2.39 percent stake in the company.
In addition, Trade Corner purchased around 3.69 lakh equity shares, which constitutes a 0.99 percent stake, for about Rs. 7.14 crores, at an average price of Rs. 193.5.
Also Read: Stock under ₹200 jumps 7% after Ashish Kacholia bought fresh stake in the company
Previous News:
Shares of Diffusion Engineers had a strong market debut on Friday, October 4, listing at Rs. 193.50 on the NSE, representing a premium of 15.2 percent from the IPO price of Rs. 168. On the BSE, the stock was listed at Rs. 188, reflecting a 12 percent rise over the issue price.
The initial public offering (IPO), which raised Rs. 158 crore, was available for subscription from September 26 to September 30. The shares were priced between the range of Rs. 159-168 per share. After the three-day bidding period, the IPO saw tremendous interest, as the issue was subscribed 213.41 times.
In total, there were bids for 234.59 crore shares compared to the 1.09 crore shares on offer. The retail investor segment was particularly active, with a subscription rate of 96.74 times, while non-institutional investors (NIIs) subscribed an impressive 430.54 times. Additionally, the quota for qualified institutional buyers (QIBs) was subscribed 253.04 times.
Financials:
The company reported a significant growth in the revenue from operations, experiencing a year-on-year rise of nearly 9 percent, increasing from Rs. 255 crores in FY23 to Rs. 278 crores in FY24.
Similarly, during the same period, the company’s net profit increased from Rs. 22 crores to Rs. 31 crores, representing a growth of around 41 percent YoY.
About the Company:
Founded in 1982, Diffusion Engineers Limited is involved in the business of manufacturing welding consumables, wear plates and parts, and heavy machinery for core industries.
The company is engaged in providing specialised repairs and reconditioning services for heavy machinery and equipment, along with trading anti-wear powders and welding and cutting machinery.
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Written by Shivani Singh
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