The SME IPO of Yash Highvoltage was fully subscribed on Monday with an overall booking of 16.76 times by 10:35 am on the final day of bidding. The company aims to raise Rs 110 crore through the SME IPO with the shares set to list on the BSE SME platform. The issue will close on December 16.

Subscriptions from retail investors stood at 27.09 times and non-institutional investors had subscribed by 15.24 times, while qualified institutional investors had booked 21 times on the final day of bidding.

Yash Highvoltage IPO: GMP

Ahead of the issue, Yash Highvoltage's unlisted shares were trading at Rs 246 apiece on Monday in the unofficial market, reflecting a grey market premium (GMP) of about 68.5% against the upper end of the IPO price band of Rs 146.

Yash Highvoltage IPO size

The IPO is a combination of fresh equity sale of 64.05 lakh shares and an offer for sale (OFS) of Rs 16.5 crore.

Yash Highvoltage IPO: Price band

The company is offering its shares at Rs 138-146 apiece, and investors can bid for 1,000 shares in 1 lot.

Yash Highvoltage IPO: Issue structure

About 50% of the offer is reserved for QIB investors, 35% for retail investors and the other 15% for non-institutional investors.

Yash Highvoltage IPO: Opening date, allotment and listing date

The IPO opened on December 12 and is set to close on December 16. The final allotment will likely be made on December 17. The company's shares are scheduled to be listed on the the BSE SME platform on December 19.

Yash Highvoltage IPO: Net proceeds

The company said the net proceeds from the public offer will be used to set up a new factory to manufacture RIP/RIS transformer- condenser graded bushings and to meet general corporate purposes.

About Yash Highvoltage

The company is engaged in the manufacturing and distribution of a wide range of transformer bushings – Oil Impregnated Paper [OIP] condenser bushing, Resin Impregnated Paper [RIP], High Voltage and High Current bushing, OIP Wall bushing and Oil to Oil bushing.

Yash Highvoltage IPO: Industry overview

As of CY24, RIP is the most prominent form of bushing type, accounting for a 61.9% revenue share in the global transformer bushing market. The rising demand for RIP bushings is mainly attributed to higher customer preference to RIP bushings.

Yash Highvoltage IPO: Financial performance

For the period ended June 2024, the company clocked total revenues of Rs 27 crore and net profit of Rs 3.12 crore.

Yash Highvoltage IPO: Lead managers and registrar

Indorient is acting as the lead manager for the issue and Bigshare Services is the registrar.


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