Yash Highvoltage Ltd’s initial public offering (IPO) opened for public subscription on Thursday, December 12.
This IPO, aimed at the SME (Small and Medium Enterprises) sector, will be available for subscription until December 16.
Yash Highvoltage is a well-established manufacturer and distributor of electrical transformer bushings, including products like Oil Impregnated Paper (OIP) Condenser Bushing, Resin Impregnated Paper (RIP), and Resin Impregnated Synthetic (RIS) Condenser Bushing.
The company aims to raise Rs 110.01 crore through this IPO, and its shares will be listed on the BSE SME platform.
Subscription Status and GMP
As of December 12, the Yash Highvoltage IPO has received 12% subscription on the first day. This means bids have been placed for 5.91 lakh equity shares, while 50.12 lakh shares are being offered.
Retail category: 19% subscription
Non-institutional investors (NII): 10% subscription
Qualified institutional buyers (QIBs) have not yet placed any bids.
In the grey market, the Yash Highvoltage IPO shows a positive trend with a grey market premium (GMP) of Rs 130 per share.
This indicates that the shares are trading at Rs 276 per share, representing a premium of 89.04% above the IPO price.
IPO Price and Purpose
The Yash Highvoltage IPO is available in a price band of Rs 138 to Rs 146 per share, with one lot consisting of 1,000 shares. The total size of the IPO 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 proceeds from the IPO will be used to set up a new factory and for general corporate purposes. The book-running lead manager for the IPO is Indorient Financial Services Ltd, and the registrar is Bigshare Services Pvt Ltd.
The IPO will close on December 16, with allotment finalization expected by December 17 and listing scheduled for December 19.