Upcoming IPO: Yash Highvoltage IPO opens on December 12; issue price band set at ₹138-146 apiece; check GMP

Yash Highvoltage IPO will open for subscription on Thursday, December 12, and close on Monday, December 16. Yash Highvoltage IPO price band has been fixed in the range of ₹138 to ₹146 per equity share of face value of ₹5 each. Bids can be made for a minimum of 1,000 equity shares and in multiples of 1,000 equity shares thereafter.

Yash Highvoltage specializes in manufacturing and distributing a wide range of transformer bushings, including Oil Impregnated Paper (OIP) condenser bushings, Resin Impregnated Paper (RIP) and Resin Impregnated Synthetic (RIS) condenser bushings, High Voltage and High Current bushings, OIP wall bushings, and oil-to-oil bushings.

The company also offers repair, retrofitting, and replacement services for old bushings. Our team of experienced engineers provides on-site and off-site technical testing, analysis, and repair services for bushings.

“This IPO marks a transformative chapter in the journey of Yash Highvoltage Limited, highlighting our commitment to growth and excellence in delivering cutting-edge solutions to the energy sector. Over the years, we have earned a reputation as one of the prominent manufacturers of high-quality transformer bushings, consistently addressing the evolving needs of the industry,” said Keyur Girishchandra Shah, Chairman & Managing Director of the company.

As per the red herring prospectus (RHP), the company’s listed peers Crompton Greaves Power and Industrial Solutions Ltd (with a P/E of 78.53), and Hitachi Energy India Ltd (with a P/E of 309.78).

In FY24, the company generated revenue from operations of ₹10,848.08 lakhs, with an EBITDA of ₹2,015.08 lakhs and a profit after tax (PAT) of ₹1,206.27 lakhs.

For the quarter ending June 30, 2024, the company reported revenue from operations of ₹2,762.88 lakhs, an EBITDA of ₹522.48 lakhs, and a PAT of ₹312.75 lakhs.

Yash Highvoltage IPO details

Yash Highvoltage IPO includes a fresh issue of 64,05,000 equity shares along with an offer for sale (OFS) of up to 11,30,000 equity shares by promoter selling shareholder.

The net proceeds from the fresh issue are intended to be used for the following purposes: Establishing a new factory to manufacture Resin Impregnated Paper (RIP) and Resin Impregnated Synthetic (RIS) transformer condenser graded bushings; and General corporate purposes.

Indorient Financial Services Ltd is the book-running lead manager for the Yash Highvoltage IPO, while Bigshare Services Pvt Ltd serves as the registrar for the issue. The market maker for the Yash Highvoltage IPO is Alacrity Securities.

Yash Highvoltage IPO GMP today

Yash Highvoltage IPO GMP today is +130. This indicates Yash Highvoltage share price was trading at a premium of ₹130 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Yash Highvoltage share price is indicated at ₹276 apiece, which is 89.04% higher than the IPO price of ₹146.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

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