Yash Optics and Lens IPO booked 54% on day 1: Check subscription status, price band and other key details

Yash Optics and Lens IPO, a book-built issue of ₹53.15 crore, opened for subscription on Wednesday, March 27. The NSE SME public offer has seen a lukewarm response from the investors after its launch.

The initial public offer was booked 54% till 5 pm on Wednesday, as per the NSE data. The investors submitted bids for a total of 26 lakh shares compared to 48.59 lakh shares on offer for public investors.

The public issue is entirely a fresh issue of 65.62 lakh shares of a face value of ₹10 per equity share, with no Offer for Sale (OFS) component. The total issue size included a market marker portion of 3,31,200 shares and an anchor allocation of 17,02,400 shares.

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The company has set aside 11.64 lakh shares (17.75%) for qualified institutional buyers (QIBs), 11.1 lakh shares (16.92%) for NIIs and 22.52 lakh shares (34.33%) for retail buyers.

Shreni Shares is serving as the book-running lead manager of the IPO. Bigshare Services Pvt Ltd is the registrar to the public issue.

Yash Optics and Lens IPO price band, lot size and key dates

Yash Optics and Lens IPO price band been fixed between ₹75 and ₹81 per equity share. The minimum lot size for an application is of 1,600 shares, aggregating to a minimum investment of ₹1,29,600 for retail investors. The high networth individuals (HNIs) can apply for a minimum two lots, or 3,200 shares amounting to an investment of ₹2,59,200.

Yash Optics and Lens IPO subscription is open from March 27 to April 3. The company will finalize the basis of the allotment of shares on Thursday, April 4. Non-allottees will receive their refunds on April 5 and shares will be transferred to the Demat accounts of successful applicants the same day.

Yash Optics and Lens shares are likely to be listed on the NSE SME platform, Emerge, on April 8.

Tarun Manharlal Doshi, Chirag Manharlal Doshi, and Dharmendra M Doshi are the promoters of the company. Before the listing, the promoters' holding in the company stood at 97.45%. After the listing on April 8, the promoter holding will be diluted to 71.63%.

Yash Optics and Lens IPO objective

The funds raised will be used for various important purposes. This includes backward integration for our existing manufacturing unit, purchasing plant and machinery, repayment or pre-payment of certain loans taken by the company, setting up the working capital requirements of the company and general corporate needs and initiatives.

About Yash Optics and Lens Limited

Yash Optics and Lens Limited, established in July 2010, mainly focuses on manufacturing, trading, distribution and supplying various types of glasses/ optical lenses.

Yash Optics and Lens' product offerings comprise basic single-vision lenses to advanced progressive lenses including customized and personalized options. The company also offers various coatings to enhance lens functionality. Yash Optics caters to everyone from budget-conscious consumers to luxury clientele.

Yash Optics and Lens has its manufacturing facility in Kandivali (West), Mumbai. The facility handles the entire lens production process based on customer orders and prescriptions. Apart from manufacturing, the company also markets lenses under its brands through wholesalers and retail channels.

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