Yash Optics & Lens shares list with 11% premium

Yash Optics & Lens made impressive debut on stock market on Monday, listing at ₹90 per share on NSE SME platform. This marked premium of 11.11% over issue price of ₹81 per share. Despite positive start, listing price fell short of grey market premium, where shares were trading at premium of ₹14. company's initial public offering (IPO) received significant attention from investors, leading to robust subscription levels.

Yash Optics & Lens IPO opened for subscription on March 27 & closed on April 3, with listing date set for April 8. IPO price band was fixed at ₹75 to ₹81 per share. company successfully raised ₹53.15 crore through IPO, offering 65.62 lakh shares as fresh issue. Retail investors were required to invest minimum of ₹129,600, with lot size set at 1,600 shares.

Prior to IPO, Yash Optics & Lens secured ₹13.79 crore from anchor investors on March 26, 2024. Shreni Shares Ltd acted as book-running lead manager for IPO, while Bigshare Services Pvt Ltd served as IPO registrar.

IPO received overwhelming response from investors, with overall subscription of 42.17x. retail category was oversubscribed by approximately 32.46x, while Qualified Institutional Buyers (QIB) category saw subscription of 19.88x. Non-Institutional Investors (NII) showed significant interest, subscribing around 85.27x.

Yash Optics & Lens specializes in manufacturing & supplying spectacle lenses & optical lenses, offering wide range of vision correction solutions. Funds raised through IPO will be utilized for various purposes, including establishing new manufacturing unit for backward integration, procuring essential plant & machinery, & enhancing operational capabilities. Additionally, portion of proceeds will be allocated for repayment or prepayment of specific borrowings.

To Summarize

Yash Optics & Lens witnessed strong market debut, listing at premium of 11.11% over issue price. Despite missing grey market estimates, IPO garnered significant attention from investors, leading to robust subscription levels across all categories. With its successful listing, Yash Optics & Lens looks poised for growth & expansion in optical solutions market.