Yash Highvoltage IPO opens for bidding. Check key dates, GMP, price band and other details

The SME IPO of Yash Highvoltage was fully subscribed on Friday with an overall subscription of 11.17 times on the second 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 18.18 times and non-institutional investors had subscribed by 9.43 times, while qualified institutional investors had subscribed by 20% on the second day of bidding.

Here are 10 key things investors need to know about the public offer before subscribing to the issue.

1) 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.

2) Yash Highvoltage IPO price band

The company is offering its shares at Rs 138-146 apiece, and investors can bid for 1000 shares in 1 lot.

3) Yash Highvoltage GMP

Ahead of the issue, Yash Highvoltage's unlisted shares were trading at Rs 256 per share on Friday in the unofficial market, reflecting a grey market premium (GMP) of about 75.3% against the upper end of the IPO price band of Rs 146.

4) About Yash Highvoltage

The company is engaged in the manufacturing and distribution of 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.
Vishal Mega Mart vs Mobikwik vs Sai Life Sciences: Which is a better pick?

5) 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.

6) Yash Highvoltage 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.

7) Objects of the offer

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

8) Lead managers and Registrar

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

9) Issue structure

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

10) Important dates

The IPO will open on December 12 and will close on December 16. The final allotment will likely be made on December 17. The company's shares will likely get listed on December 29.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)