The initial public offer (IPO) of Yash Highvoltage received bids for 91,16,74,000 shares as against 53,89,000 shares on offer. The issue was subscribed 169.17 times.
Retail investors bid for 37,96,95,000 shares, non-institutional investors bid for 35,48,38,000 shares and qualified institutional investors bid for 17,71,41,000 shares.
The issue opened for bidding on 12 December 2024 and it closed on 16 December 2024. The price band of the IPO is fixed between Rs 138 to Rs 146 per share. The equity shares will list on BSE's SME platform.
The issue size comprised of fresh issue of 42,59,000 and offer for sale (OFS) of 11,30,000 shares by existing promoter, Keyur Girishchandra Shah.
The company intends to utilize the net proceeds to set up a new factory to manufacture RIP/RIS transformer condenser graded bushings and general corporate purposes.
Ahead of the Yash Highvoltage on 11 December 2024, raised Rs 31.33 crore from anchor investors. The board allotted 21.46 lakh shares at Rs 146 per share to 14 anchor investors.
Yash Highvoltage is a leading manufacturer and distributor of a diverse range of transformer bushings, including OIP, RIP, and RIS condenser bushings, high voltage and high current bushings, OIP wall bushings, and oil-to-oil bushings. The company also provides repair, retrofitting, and replacement services for aging bushings. With an annual production capacity of 7,000 bushings and state-of-the-art in-house testing facilities, Yash Highvoltage is committed to delivering high-quality products and services to its customers. As of 30 November 2024, the company had 157 full-time employees.
The company recorded revenue from operations of Rs 27.62 crore and net profit of Rs 3.12 crore for the period as on 30 June 2024.