Yash Highvoltage shares hit 5% upper circuit after listing at 90% premium on the BSE SME platform; check details

Yash Highvoltage Limited made a stellar stock market debut on Thursday, December 19, with its shares listing at a 90% premium on the BSE SME platform.

The stock started trading at ₹277.4 per share against the issue price of ₹146 apiece on the BSE SME platform. Soon after listing, shares of Yash Highvoltage Limited rallied up to 5% to hit the upper circuit limit at ₹291.25 apiece, nearly doubling the IPO investors’ money.

Within 10 minutes of trade, as many as 15.11 lakh shares changed hands on the BSE. The total trading value stood at ₹42.94 crore, and the company's market capitalisation reached ₹831.56 crore.

At the listing price, the value of a single lot of Yash Highvoltage Ltd shares allotted to an IPO investor stood at ₹2,77,400 (₹277.4 x 1,000). Thus, investors who bagged shares in the share allotment would have made gains of around ₹1,31,400 per lot against the minimum investment of ₹1,46,000.

Yash Highvoltage Ltd raises ₹110.01 crore through IPO

Yash Highvoltage Ltd raised ₹110.01 crore through its IPO. The BSE SME issue was open for subscription from December 12 to December 16.

The issue saw robust demand, led by the Non-Institutional Investors (NIIs). The IPO received bids worth ₹13,304 crore against the issue size of ₹110.01 crore.

Yash Highvoltage IPO combined a fresh issue of 64.05 lakh shares and an offer-for-sale (OFS) component of 11.3 lakh shares. Investor Keyur Girishchandra Shah sold 11.30 lakh shares through the OFS. The price band of the IPO was ₹138 to ₹146 per share. The minimum lot size was 1,000 shares for retail investors, which required a minimum investment of ₹1,46,000 per application.

The book-building issue was oversubscribed around 181 times. Exchange data showed that applications for 91.12 crore shares were received against the issue size of 50.12 lakh shares.

The retail investors’ portion was booked more than 151 times as applications for over 37.96 crore shares were received compared to 25.06 lakh shares on offer for them.

The NIIs’ category was booked more than 330 times. Bids for 35.44 crore shares were received against 10.74 lakh shares reserved for the segment.

The Qualified Institutional Buyers (QIBs) booked their quota 123 times. The QIBs placed bids for 17.71 crore shares against the 14.32 lakh shares set aside for them.

The company has raised ₹31.33 crore from anchor investors. It allotted 21,46,000 equity shares at a price of ₹146 per share, the upper band of the issue price.

Yash Highvoltage Ltd manufactures and distributes a range of transformer bushings. It produces RIP/RIS Condenser Bushings, High Current Bushings, and Oil-Impregnated Paper (OIP) Condenser Bushings.

According to the RHP, the company would utilise ₹70.34 crore of the IPO funds to set up a new facility at Vadodara in Gujarat. The new plant will manufacture Resin Impregnated Paper (RIP)/Resin Impregnated Synthetic (RIS) transformer condenser graded bushings.

The company plans to capitalise on the opportunities in the Epoxy Resin bushings market in India. Such brushings offer more robust, maintenance-free and environmentally resistant solutions.