Yash Optics & Lens shares commenced trading on April 8 with a positive start, opening at Rs 90, representing an 11.1% premium over the issue price of Rs 81 on the NSE SME platform. However, this listing fell short of the grey market expectations, where shares were trading at a premium of Rs 14.
The NSE SME IPO witnessed strong subscription rates over a period of five days, with an overall subscription of approximately 42 times. Notably, the retail segment was oversubscribed by around 32 times, while the NII portion saw a subscription of 20 times. The QIB investors displayed significant interest, subscribing approximately 85 times in this category.
The public offer of Rs 53.15 crore comprised a fresh issue of 65.62 lakh shares. The proceeds are intended to fund capital expenditure for establishing a new manufacturing unit, procuring essential plant and machinery for the existing manufacturing unit, and for the repayment or prepayment of specific borrowings.
Shreni Shares Limited served as the book running lead manager for the Yash Optics & Lens IPO, with Bigshare Services Pvt Ltd acting as the registrar. Rikhav Securities is the market maker for the IPO.
The issue was priced in the range of Rs 75-81.
