Yash Optics and Lens IPO is set to open for subscription on Wednesday, March 27, and will conclude on Wednesday, April 3. The price band for the IPO has been fixed in the range of ₹75 to ₹81 per equity share of face value ₹10 each.
The IPO lot size comprises 1,600 shares, with bids allowed for a minimum of 1,600 equity shares and in multiples of 1,600 equity shares thereafter.
Notably, the floor price is 7.5 times the face value, while the cap price is set at 8.1 times the face value of the equity shares.
The IPO has reserved not more than 50% of the issue for Qualified Institutional Buyers (QIBs), at least 35% for retail investors, a minimum of 15% for non-institutional investors, and up to 3,31,200 equity shares or 5.05% of the issue for market makers.
The promoters of the company are Tarun Manharlal Doshi, Dharmendra M. Doshi, and Chirag Manharlal Doshi.
Yash Optics and Lens primarily offers vision correction solutions, including the production, sales, trading, and provision of a wide range of spectacle and optical lenses, along with various coatings.
The company caters to a diverse clientele by offering products at different price points, manufacturing lenses based on clients’ prescriptions and orders.
As per the Red Herring Prospectus (RHP), the company’s listed peer is GKB Ophthalmics Ltd, with a P/E of -16.58 times.
Between March 31, 2022, and March 31, 2023, the company witnessed an 18.32% increase in profit after tax (PAT) and a 33.3% rise in revenue.
The IPO, worth approximately ₹53.15 crore, consists of a fresh issue of 65,61,600 equity shares with a face value of ₹10 each, without any offer-for-sale component.
The proceeds from the IPO will be utilized for funding capital expenditure, purchasing plant and machinery, repayment/prepayment of borrowings, working capital requirements, and general corporate purposes.
The registrar for the IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Shreni Shares Limited. Rikhav Securities will act as the market maker.
The IPO basis of allotment is tentatively scheduled for Thursday, April 4, with refunds expected to be initiated on Friday, April 5. Shares are likely to be credited to the demat accounts of allottees on the same day, and Yash Optics and Lens shares are expected to be listed on NSE SME on Monday, April 8.
Disclaimer: Investors are advised to consult certified experts before making any investment decisions.
