Yashhtej Industries IPO Day 1: Check subscription status, price band, objectives, lot size and key dates

Yashhtej Industries IPO: The initial public offering of soybean crude oil processor Yashhtej Industries (India) Ltd opened for subscription on Wednesday, February 18. The issue will conclude on February 20. It is a fixed-price issue at ₹110 per share.

The ₹88.88 crore initial share sale is solely a fresh issuance of 80.79 lakh equity shares. There is no offer for sale (OFS) component.

The net issue proceeds will be used for working capital requirements, capital expenditure and general corporate purposes.

"Our Company believes that listing will enhance our company’s corporate image, visibility and create a public market for its equity shares in India besides unlocking the value of our company," the firm said in its red herring prospectus.

Yashhtej Industries IPO: Subscription details

Yashhtej Industries IPO: Lot size

A lot consists of 1,200 shares. Individual investors can apply for a minimum of 2,400 shares.

Yashhtej Industries IPO: Allotment and listing date

• Subscription period: February 18 to February 20
• Basis of allotment: February 23
• Refund initiation: February 24
• Credit of shares to Demat account: February 24
• Listing on BSE SME platform: February 25

Latur-based Yashhtej Industries is in to manufacturing of soybean crude oil from soybeans using the solvent extraction process and manufacturing of soybean de-oiled cake (DOC). DOC, or soya meal, is the solid residue after oil extraction from soybeans and is rich in minerals and protein.

Soybean crude oil further needs to be refined to become edible oil and fit for consumption. The firm operates in a business-to-business (B2B) segment, i.e., the said crude oil is supplied to clients who are engaged in undertaking the refining activity.

The DOC is generally used as animal feed in the poultry industry. The sales of DOC give a secondary but significant revenue stream for the company. Apart from manufacturing soybean crude oil and its by-product DOC, the firm has also ventured into solar power generation and supply of the same.

Yashhtej Industries IPO GMP

According to investorgain.com and media reports, Yashhtej Industries' unlisted shares are trading at ₹133, reflecting a grey market premium (GMP) of 20.91% over the upper price band of ₹110.