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

Diffusion Engineers, which is a provider of engineering solutions,
has submitted preliminary papers to the Securities and Exchange
Board of India (Sebi) to secure funds through an initial public
offering (l PO).

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.