IPO Details

Bidding Dates

11 Dec '24 - 15 Dec '24

Minimum Investment

₹1,46,000 / 1 Lot (1,000 Shares)

Price Range

₹138 - ₹146

Maximum Investment

₹1,46,000 / 1 Lot (1,000 Shares)

Retail Discount

Not Applicable

Issue Size

₹110.01 crore

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |   Eligible Employees  |  

Yash Highvoltage IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Dec 11, 2024

IPO Closing Date

Dec 15, 2024

Basis of Allotment

Dec 16, 2024

Initiation of Refunds

Dec 17, 2024

IPO Listing Date

Dec 18, 2024

Yash Highvoltage IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Dec 11, 2024

 0.00x 2.54x 4.94x 3.01x

Day 2Dec 12, 2024

 0.20x 9.43x 18.18x 11.17x

Day 3Dec 15, 2024

 6.42x 67.62x 73.86x 53.25x

About Yash Highvoltage IPO

Yash Highvoltage IPO is a book-built issue aimed at raising ₹110.01 crore. The issue comprises a fresh issuance of 64.05 lakh shares worth ₹93.51 crore and an offer for sale of 11.3 lakh shares totalling ₹16.50 crore. Yash Highvoltage IPO subscription window opens on December 12, 2024, and closes on December 16, 2024. The allotment of shares is expected to be finalised on December 17, 2024, with a tentative listing date on the BSE SME set for December 19, 2024.

Yash Highvoltage IPO has a price band of ₹138 to ₹146 per share, with a minimum application lot size of 1,000 shares. Retail investors must invest at least ₹146,000, while HNIs need to invest ₹292,000 for two lots (2,000 shares). Indorient Financial Services Ltd serves as the lead manager, Bigshare Services Pvt Ltd is the registrar, and Alacrity Securities is the market maker for this IPO.

Industry Outlook

  1. Solar's share in installed capacity surged to 18.5% by FY’24, while coal's contribution dropped to 49.2%, reflecting a greener energy mix.
  2. RIP insulation dominated with 59.6% market share in FY’24, driven by low maintenance, compact design, and environmental benefits over declining OIP insulation.

Yash Highvoltage IPO Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Setting up a new factory to manufacture Resin Impregnated Paper (RIP) / Resin Impregnated Synthetic (RIS) transformer condenser-graded bushings 
  2. General Corporate Purposes

About Yash Highvoltage Limited 

Incorporated in June 2002, Yash Highvoltage Limited is a prominent manufacturer and distributor of transformer bushings, catering to diverse industry needs. The company's comprehensive product portfolio includes 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. Additionally, it offers repair, retrofitting, and replacement services for aged bushings.

The company operates a state-of-the-art manufacturing facility in Vadodara, Gujarat, with an annual production capacity of 7,000 bushings. This includes 3,700 units of OIP Bushings, 3,000 units of RIP Bushings, and 300 units of High Current Bushings. Equipped with in-house quality testing facilities, the unit ensures stringent quality standards.

As of November 30, 2024, Yash Highvoltage employs 157 full-time professionals. Its unique market positioning, robust track record, and strong industry trends bolster its competitive edge in the Indian transformer bushing market.

How To Check the Allotment Status of the Yash Highvoltage IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for Yash Highvoltage IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Yash Highvoltage IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Yash Highvoltage IPO 

Registered office: 84/1B, PO Khakharia, Taluka- Savli, Vadodara 391510, Gujarat, India

Phone: +91 74900 28892

E-mail: cs@yashhv.com 

Yash Highvoltage IPO Reservation

The Yash Highvoltage IPO comprises a total of 75,35,000 shares, with allocations to various investor categories as outlined below:

Investor Category

Shares Offered

Percentage of Total

Anchor Investors

21,46,000

28.48%

Market Makers

3,77,000

5%

Qualified Institutional Buyers (QIB)

14,32,000

19%

Non-Institutional Investors (NII)

10,74,000

14.25%

Retail Individual Investors (RII)

25,06,000

33.26%

Total

75,35,000

100%

Yash Highvoltage IPO Lot Size

Application

Lots

Shares

Amount

Retail (Min)

1

1,000

₹1,46,000

Retail (Max)

1

1,000

₹1,46,000

HNI (Min)

2

1,000

₹2,92,000

Yash Highvoltage IPO Promoter Holding

The company promoter is Mr. Keyur Girishchandra Shah.

Share Holding Pre-Issue

79.48%

Share Holding Post Issue

-

Key Performance Indicators for Yash Highvoltage IPO

As of June 30, 2024, the market capitalisation of Yash Highvoltage stands at ₹416.85 crore. Here are the KPIs of Yash Highvoltage as of June 30, 2024.

KPI

Value

ROE (%)

32.51%

ROCE (%)

44.07%

Debt/Equity

0.17

RoNW (%)

32.51%

P/BV

1.07

PAT Margin (%)

11.12

Price Metrics

Metric

Pre-IPO

Post-IPO

EPS (₹)

5.45

4.38

P/E (x)

26.8

33.32

Note:

  • Pre-IPO EPS is derived using the pre-issue shareholding as of the RHP date and the most recent FY earnings (March 31, 2024).
  • Post-IPO EPS is based on post-issue shareholding and annualised FY earnings (June 30, 2024) provided in the RHP.

Yash Highvoltage IPO Anchor Investor Details

The anchor portion of the Yash Highvoltage IPO provides detailed information as follows:

Detail

Information

Anchor Bid Date

December 11, 2024

Shares Offered to Anchor Investors

2,146,000

Anchor Portion Size

₹31.33 crore

Lock-in Period End Date (50% Shares)

January 16, 2025

Lock-in Period End Date (Remaining Shares)

March 17, 2025

Yash Highvoltage IPO Prospectus

Yash Highvoltage IPO Registrar and Lead Managers

Yash Highvoltage IPO Lead Managers

  • Indorient Financial Services Ltd 

Registrar for Yash Highvoltage IPO

Bigshare Services Pvt Ltd

  • Contact Number: +91-22-6263 8200
  • Email Address: ipo@bigshareonline.com

Website: Yash Highvoltage IPO Registrar

Financial Performance of Yash Highvoltage Limited

Particulars For period ended June 30, 2024 Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ lakh) 2,762.88 10,848.08 9,036.21 6,505.71
Profit After Tax (PAT) (in ₹ lakh) 312.75 1,206.27 1,142.22 871.23
Total Borrowings (in ₹ lakh) 1,256.97 707.64 777.60 744.49
Net Worth (in ₹ lakh) 4,526.20 4,213.45 3,208.21 2,450.65
Bushings Sold (Units) 1,109 4,538 4,576 3,108
Return on Net Worth (%) 7.16% 32.51% 40.37% 42.02%
Debt to Equity Ratio (x) 0.28 0.17 0.24 0.30
Earning Per Share (EPS)-in absolute ₹ 1.41 5.45 5.16 3.93

Know before investing

Strengths

12

  1. Dominant player in high voltage condenser bushings up to 245kV.

  2. Pioneer in localisation of advanced RIP/RIS bushings technology.

  3. Products meet critical international standards like IEC and IEEE.

  4. Robust product demand driven by growing energy sector needs.

  5. Captures growth in the fastest voltage range >72.5 kV, <145 kV.

  6. Diverse portfolio serving over 24 countries with significant export growth.

  7. Annual CAGR of 19% in bushing volumes from FY'22 to FY'24.

  8. Strong partnerships with major utilities and power companies worldwide.

  9. Advanced manufacturing and R&D capabilities enhance competitive edge.

  10. Stringent quality control measures ensure high product reliability.

  11. Experienced management team with extensive industry expertise.

  12. Focus on expanding global footprint and retrofit market opportunities.

Risks

12

  1. The proposed facility may face delays, costing ₹7,033.98 lakhs.

  2. No assurance objects of issue will be timely achieved.

  3. Dependence on the top 5 suppliers constitutes 75.03% of purchases.

  4. Raw material costs are influenced by 68.67% international sourcing.

  5. Key customers contribute 84.03% of total revenue dependency.

  6. Reliance on transformer bushings increases segment concentration risk.

  7. Manufacturing facilities in Gujarat centralise geographical business risks.

  8. Untraceable corporate records may invite future compliance challenges.

  9. Negative cash flow in FY’24 impacts investment and financing.

  10. Lack of definitive agreements delays project execution and procurement.

  11. Dependent on regulatory approvals for planned manufacturing expansion.

  12. Related party transactions could pose potential conflicts of interest.

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Yash Highvoltage Limited Peer Details Comparison

Company Name EPS (Basic) NAV (Per Share) (₹) P/E (x) RoNW (%)
Yash Highvoltage Limited 5.45 19.03 32.51 -
Crompton Greaves Power and Industrial Solutions 9.33 19.76 78.53 47.29
Hitachi Energy India Limited 38.64 320.86 309.78 13.00

Yash Highvoltage IPO FAQs

What is the Yash Highvoltage IPO?

Yash Highvoltage IPO is a book-built issue IPO. It will be open from December 12, 2024, to December 16, 2024.

When will Yash Highvoltage IPO be allotted?

The Basis of Allotment will happen on Tuesday, December 17, 2024.

When will Yash Highvoltage IPO open for subscription?

The IPO subscription window will open on December 12, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,000 shares.

When will Yash Highvoltage Limited list on exchanges?

The listing date for Yash Highvoltage Limited is Thursday, December 19, 2024.

What is the issue size of Yash Highvoltage IPO?

The issue size of the Yash Highvoltage IPO is up to ₹110.01 crore, with a fresh issue size of ₹93.51 crore and an offer for sale of ₹16.50 crore.

What are the open and close dates of the Yash Highvoltage IPO?

The open and close dates for Yash Highvoltage IPO are from December 12, 2024 to December 16, 2024.

What would be the listing gains on the Yash Highvoltage IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting a Yash Highvoltage IPO allotment?

1. Multiple Submissions: Use different Demat accounts to make multiple applications.
2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for Yash Highvoltage IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Yash Highvoltage Limited using one PAN?

You can submit only one application using your PAN card.

How to read Yash Highvoltage Limited's financial statements?

To read Yash Highvoltage’s financial statements, download the IPO’s RHP document.

What is 'pre-apply' for Yash Highvoltage Limited IPO?

Pre-apply allows investors to apply for the Yash Highvoltage IPO two days before the subscription period opens, ensuring an early submission of your application.

If I pre-apply for the Yash Highvoltage Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.

When will I know if my Yash Highvoltage Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.

Who is the registrar of Yash Highvoltage IPO?

Bigshare Services Pvt Ltd is the registrar responsible for managing the IPO allotment process and handling investor queries.

Where is the Yash Highvoltage IPO getting listed?

Yash Highvoltage Limited IPO is proposed to be listed on the SME platform of the Bombay Stock Exchange (BSE).