Yash Highvoltage Ltd. is quickly emerging as a leader in power engineering, specializing in high-voltage and high-current Transformer Bushings for utilities and industrial markets in India and globally. The company’s products are renowned for their innovation and quality, having proven their reliability over decades of performance.

Yash Highvoltage IPO Details

The Yash Highvoltage IPO is a Book Built Issue amounting to ₹110.00 Crores, consisting of a Fresh Issue of 64.05 Lakh Shares worth ₹93.51 Crores and an Offer for Sale of 11.30 Lakh Shares totaling ₹16.49 Crores. The subscription period for the IPO opens on December 12, 2024, and closes on December 16, 2024. The price band is set between ₹138 and ₹146 per equity share, with a lot size of 1,000 shares. Retail investors must invest a minimum of ₹1,46,000, while High-Net-Worth Individuals (HNIs) need to invest a minimum of 2 lots (2,000 shares), amounting to ₹2,92,000.

At the upper end of the price band, the Market Capitalisation of Yash Highvoltage Limited will be ₹416.84 Crores. The allotment is expected to be finalized on December 17, 2024, with shares listing on the BSE & NSE on December 19, 2024.

Grey Market Premium (GMP) and Subscription Status

As of December 13, 2024, the Yash Highvoltage IPO has been subscribed 10.46 times on its second day of the subscription period. The Grey Market Premium (GMP) is currently ₹107, indicating a potential 73.63% gain on listing. The expected listing price is ₹253, based on the GMP trend.

It’s important to note that GMP is speculative and should be considered for informational purposes only. The actual price discovery happens after the shares list on the stock exchange.

Financial Performance & Valuation

Yash Highvoltage Ltd. has shown strong growth in its revenues, rising from ₹6,537.90 Lakh in FY22 to ₹10,912.25 Lakh in FY23. Their EBITDA has also grown from ₹1,483.35 Lakh in FY22 to ₹2,079.25 Lakh in FY23. The Profit after Tax (PAT) for FY24 reached ₹312.75 Lakh, up from ₹871.23 Lakh in FY22. The company’s pre-issue P/E ratio stands at 26.79x, with the post-issue P/E ratio rising to 34.56x, which is attractive when compared to the industry P/E ratio of 194x. Additionally, the company has a high ROCE of 44.07% and RoE of 32.51% for FY24.

Objectives of the Yash Highvoltage IPO

Proceeds from the Fresh Issue will be used towards:

1. ₹7,033.98 Lakh for setting up a new factory to manufacture Resin Impregnated Paper (RIP) and Resin Impregnated Synthetic (RIS) transformer condenser graded bushings.
2. General Corporate Purposes.

Investment Recommendation

Considering the company’s solid financial performance, competitive valuation, and potential listing gains indicated by the GMP, we recommend investors to apply for the Yash Highvoltage IPO either for listing gains or long-term investment purposes.

The Upcoming IPOs in this week and coming weeks are NACDAC Infrastructure, Transrail Lighting, Mamata Machinery, Identical Brain Studios, Rosmerta Digital, Indo Farm, DAM Capital and Avanse Financial.

The Current active IPO is and International Gemmological, Hamps Bio, Yash Highvoltage and Inventurus Knowledge.

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