Doncasters Group’s U.S. IPO has attracted more than 30 times the shares on offer, sources say. The 250‑year‑old Derby‑based maker of aerospace and industrial gas‑turbine parts expects to price the deal $1‑$2 above its $28‑$32 marketing range. At the top of that range, the listing and two private placements could pull in as much as $887.7 million.

Investors will likely receive far fewer shares than they applied for, given the heavy demand. Existing directors and other shareholders have agreed to buy roughly $66 million in a concurrent private placement, while Qatar Investment Authority will commit about $75 million at the final price. The strong subscription signals robust demand for legacy manufacturing assets amid a tight IPO market. Jefferies, Morgan Stanley, Barclays and Moelis are steering the offering.

The IPO arrives as industrial listings surge, fueled by investor appetite for indirect AI data‑center exposure. Doncasters supplies turbine components to GE Vernova and Siemens Energy and aerospace castings to GE Aerospace, Honeywell and Pratt & Whitney, underpinning a $930 million order backlog. Shares will debut on the NYSE Thursday under the ticker DPC, delivering a sizable cash infusion for the historic firm.