Yash Highvoltage IPO Day 1: BSE SME issue booked 40% so far; check subscription, price band and offer size

The company launched its IPO on the BSE SME platform on December 12 to raise a total of ₹110.01 crore from public investors. The bidding closes on Monday, December 16.

According to the BSE data, applications for over 20.34 lakh shares were received from investors against 50.12 lakh shares on offer for subscription, leading to an overall subscription of 40% till 1:30 pm.

The retail investors placed bids for 15.89 lakh shares compared to 25.06 lakh shares set aside for them. The retail quota has been subscribed 63% so far. The Non-Institutional Investors (NIIs) applied for 4.45 lakh shares compared to 10.74 lakh shares reserved for the category. The NIIs’ quota was booked 41%.

The IPO did not receive any bid from the Qualified Institutional Buyers (QIBs). The company has set aside 14.32 lakh shares for the QIBs.

The investors, interested in participating in the bidding of Yash Highvoltage IPO can check key details like price band, offer size and minimum investment before submitting applications.

Yash Highvoltage raises ₹31.33 crore from anchor investors

Yash Highvoltage raised ₹31.33 crore from anchor investors on Wednesday ahead of the launch of bidding by public investors. The company allotted 21,46,000 equity shares to 14 fund schemes at a price of ₹146 per share.

Yash Highvoltage IPO price band and other key details

The ₹110.01-crore Yash Highvoltage public offer comprises a fresh issue of 64.05 lakh shares, worth up to ₹93.51 crore, and an offer-for-sale component of 11.3 lakh shares, amounting to ₹16.5 crore, by selling shareholders.

Investor Keyur Girishchandra Shah is selling 11,30,000 shares through the OFS.

Yash Highvoltage has set the price band at ₹138 to ₹146 per share for the IPO. The minimum lot size has been fixed at 1,000 shares for retail investors, aggregating to a minimum investment of ₹1,46,000 per application.

Yash Highvoltage Limited IPO dates

Yash Highvoltage IPO is open for subscription from December 12 to December 16.

The company has proposed to finalise the IPO share allotment status on Tuesday, December 17. Refunds and credit of shares to the Demat accounts will be done on December 18.

Yash Highvoltage IPO listing has been scheduled for December 19. Shares of the company will be listed on the BSE SME platform.

About Yash Highvoltage and use of IPO funds

Yash Highvoltage Ltd manufactures high voltage and high-current transformer bushing, mainly RIP/RIS Condenser Bushings, High Current Bushings and OIP (Oil Impregnated Paper) Condenser Bushing.

The company has proposed to utilise ₹70.34 crore of the IPO proceeds from the fresh issue component for setting up a new factory at Vadodara in Gujarat to manufacture Resin Impregnated Paper (RIP) / Resin Impregnated Synthetic (RIS) transformer condenser graded bushings.

The company plans to tap the opportunities originating from the transition from OIP to RIP and Epoxy Resin bushings in India, reflecting upon the need for more robust, maintenance-free and environmentally resistant solutions.

Yash Highvoltage Limited is engaged in the production and distribution of a wide range of transformer bushings. A transformer bushing is a crucial component that provides insulation for a current-carrying conductor passing through the grounded metallic tank of a transformer, ensuring safe operation. The company also provides repairing, retrofitting and replacement services of old bushings.