Yash Highvoltage IPO Subscribed 11.17 Times: Strong Demand, Grey Market Premium Signals Positive Listing

Yash Highvoltage Ltd., a manufacturer of transformer bushings, launched its initial public offering (IPO) on December 12, which will close for bidding on Monday, December 16. The ₹110.01 crore IPO, comprising a fresh issue and offer for sale, saw an overwhelming response from investors, with a subscription rate of 11.17 times by Day 3.

Key Highlights of Yash Highvoltage IPO

• Price Band: ₹138 to ₹146 per share
• Lot Size: 1,000 shares (₹1,46,000 minimum investment)
• Issue Structure: The IPO comprises 64.05 lakh fresh issue shares (₹93.51 crore) and an offer for sale of 11.3 lakh shares (₹16.50 crore).
• Reservations:
  • 14,32,000 shares for Qualified Institutional Buyers (QIBs)
  • 10,74,000 shares for Non-Institutional Investors (NIIs)
  • 25,06,000 shares for Retail Investors
  • 21,46,000 shares for Anchor Investors

The IPO has been fully subscribed on Day 1 and continued to witness strong demand across all categories on Day 3. As of 10:50 AM on Monday, the issue was subscribed 19.79 times, with retail investors leading the charge with a 29.63 times subscription.

Subscription Status on Day 3

• Qualified Institutions: 0.21 times
• Non-Institutional Buyers: 22.93 times
• Retail Investors: 29.63 times

Grey Market Premium (GMP)

Yash Highvoltage IPO is trading at a grey market premium (GMP) of ₹100, indicating a 68.49% premium over the issue price. If this trend continues, shares are expected to debut at ₹246 on the BSE SME platform.

Key Dates

• IPO Closing Date: December 16, 2024
• Allotment Finalization: December 17, 2024
• Credit of Shares to Demat: December 18, 2024
• Listing Date: December 19, 2024

About Yash Highvoltage Ltd.

Incorporated in 2022, Yash Highvoltage Ltd. specializes in manufacturing a variety of transformer bushings, including Oil-Impregnated Paper, Resin-Impregnated Paper, and Resin-Impregnated Synthetic condenser bushings. With its manufacturing facility in Vadodara, Gujarat, the company has an annual production capacity of 7,000 bushings. It also offers services for repair, retrofitting, and replacement of old bushings.

Use of Proceeds

The fresh issue proceeds will be used to set up a new factory to manufacture Resin Impregnated Paper/ Resin Impregnated Synthetic transformer condenser bushings. The remaining funds will be allocated for general corporate purposes.

Financial Performance

For FY 2024, Yash Highvoltage posted a revenue of ₹109.12 crore, reflecting a 20.43% YoY increase. The company’s net profit grew by 5.61% YoY to ₹12.06 crore.

Disclaimer

Investing in IPOs carries market risks. Investors should conduct thorough research and consult with financial advisors before making any investment decisions.