Yash Highvoltage Makes Strong Market Debut With 90 Pc Premium On BSE SME
Date
12/19/2024 2:09:19 PM
(MENAFN- KNN India)
New Delhi, Dec 19 (KNN)
Transformer bushings manufacturer Yash Highvoltage marked a Stellar debut on the BSE SME platform today, with shares opening at Rs 277.40, commanding a premium of 90 percent over its issue price.
The company's initial public offering (IPO), which garnered nearly 170 times subscription, raised Rs 110 crore through a combination of fresh shares and promoter stake sale.
The Gujarat-based company's public issue was offered in a price band of Rs 138-146 per share, with a minimum lot size of 1,000 shares.
The IPO comprised a fresh issue of 64.05 lakh shares amounting to Rs 93.51 crore, alongside an offer-for-sale of 11.3 lakh shares worth Rs 16.5 crore by promoter Keyur Girishchandra Shah.
Yash Highvoltage plans to utilise the fresh issue proceeds primarily for establishing a new manufacturing facility dedicated to producing resin impregnated paper (RIP) and resin impregnated synthetic (RIS) transformer condenser graded bushings. The remaining funds will be allocated toward general corporate purposes.
The company specialises in manufacturing a comprehensive range of transformer bushings, which serve as critical components in power transmission infrastructure.
Their product portfolio includes oil impregnated paper condenser bushings, resin impregnated paper and synthetic condenser bushings, high voltage and high current bushings, OIP wall bushings, and oil to oil bushings.
(KNN Bureau)
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