Yash Highvoltage IPO Day 1: GMP, subscription status, price band, other key details of SME IPO | Stock Market News
Yash Highvoltage IPO: The initial public offering (IPO) of electrical transformer bushings manufacturer Yash Highvoltage Ltd opened for public subscription on Thursday, December 12. Yash Highvoltage IPO is an SME IPO and will end on December 16.
Yash Highvoltage is a manufacturer and distributor of a wide range of transformer bushings, including Oil Impregnated Paper (OIP) condenser bushings, Resin Impregnated Paper (RIP) and Resin Impregnated Synthetic (RIS) condenser bushings.
The company aims to raise ₹110.01 crore from the SME IPO. The equity shares of the company will be listed on BSE SME.
Here’s a look at Yash Highvoltage IPO GMP, subscription status and other key details:
Yash Highvoltage IPO Subscription Status
Yash Highvoltage IPO has been subscribed 12% so far on Thursday, the first day of the bidding process. The issue received bids for 5.91 lakh equity shares as compared with 50.12 lakh shares on the offer.
The public issue has been subscribed 19% in the retail category, and 10% in the Non-Institutional Investors’ (NII) category. Qualified Institutional Buyers (QIBs) are yet to bid for the issue.
Yash Highvoltage IPO GMP Today
Yash Highvoltage shares are showing a robust trend in the unlisted market with a strong grey market premium (GMP) today. According to stock market observers, Yash Highvoltage IPO GMP today is ₹130 per share.
This indicates that in the grey market, Yash Highvoltage shares are trading at ₹276 apiece, a premium of 89.04% to the IPO price.
Yash Highvoltage IPO Details
Yash Highvoltage IPO opened for subscription on Thursday, December 12, and will close on Monday, December 16. The IPO allotment is expected to be finalized on December 17, and the IPO listing date is likely December 19. Yash Highvoltage IPO is an SME IPO and the equity shares of the company will be listed on BSE SME.
Yash Highvoltage IPO price band is set at ₹138 to ₹146 per share and the IPO lot size is 1,000 shares. At the upper-end of the price band, the Yash Highvoltage IPO size is ₹110.01 crore.
The book-built issue is a combination of fresh issue of 64.05 lakh equity shares worth ₹93.51 crore and an offer-for-sale (OFS) component of 11.3 lakh shares aggregating to ₹16.50 crore by promoter selling shareholder.
The company proposes to utilise the net issue proceeds for setting up a new factory and for general corporate purposes.
Indorient Financial Services Ltd is the book running lead manager of the Yash Highvoltage IPO, while Bigshare Services Pvt Ltd is the IPO registrar.
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