The initial public offering (IPO) of Yash Highvoltage Ltd opened on December 12 and is available for subscription until December 16.
Targeting the SME (Small and Medium Enterprises) sector, this IPO aims to raise Rs 110.01 crore, with shares to be listed on the BSE SME platform.
Yash Highvoltage is a prominent manufacturer and distributor of electrical transformer bushings, offering products like:
1) Oil Impregnated Paper (OIP) Condenser Bushings
2) Resin Impregnated Paper (RIP) Condenser Bushings
3) Resin Impregnated Synthetic (RIS) Condenser Bushings
Subscription Details and Grey Market Performance
On the first day (December 12), the IPO received a 12% subscription, with bids placed for 5.91 lakh equity shares out of 50.12 lakh shares offered. Here is the category-wise subscription status:
Retail investors: 19%
Non-institutional investors (NII): 10%
Qualified institutional buyers (QIBs): No bids yet
In the grey market, the IPO has shown a positive trend with a grey market premium (GMP) of Rs 130 per share.
This indicates that shares are trading at Rs 276 per share, which is 89.04% higher than the IPO price.
Price Band and IPO Objectives
The price band for the Yash Highvoltage IPO is set at Rs 138 to Rs 146 per share, with one lot comprising 1,000 shares. The IPO includes:
1) A fresh issue of 64.05 lakh shares (Rs 93.51 crore)
2) An offer-for-sale of 11.3 lakh shares by the promoter (Rs 16.50 crore)
The funds raised will be used to establish a new factory and for general corporate purposes.
Indorient Financial Services Ltd is the book-running lead manager, and Bigshare Services Pvt Ltd is the registrar.
Key dates for the IPO are as follows:
Closing date: December 16
Allotment finalization: December 17
Listing date: December 19
IPO Price, Purpose, and Important Dates
The Yash Highvoltage IPO is priced in the range of Rs 138 to Rs 146 per share, with one lot consisting of 1,000 shares.
The total IPO size is Rs 110.01 crore, which includes a fresh issue of 64.05 lakh shares (Rs 93.51 crore) and an offer-for-sale of 11.3 lakh shares by the promoter (Rs 16.50 crore).
The funds raised through the IPO will be used for setting up a new factory and for general corporate purposes.
The IPO is managed by Indorient Financial Services Ltd as the book-running lead manager, and Bigshare Services Pvt Ltd is the registrar.
The IPO will close on December 16, with allotment finalization expected by December 17 and listing on December 19.
