Diffusion Engineers 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 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 filed on December 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.