The Yashhtej Industries IPO started on Wednesday, February 18 and is set to end on Friday, February 20. Yashhtej Industries IPO price band has been established at ₹110 per equity share, each having a face value of ₹10. Investors are allowed to place bids for a minimum of 1,200 equity shares, with additional shares to be bid in multiples of 1,200.
Founded in 2018, Yashhtej Industries (India) Limited is involved in the production and processing of soybean crude oil from soybeans using a solvent extraction method, as well as the manufacture of Soybean De-Oiled Cake (DOC). DOC, also known as soya meal, is the solid by-product that remains after oil is extracted from soybeans and is abundant in proteins and minerals.
The company operates within the business-to-business (B2B) sector, supplying crude oil to clients engaged in refining processes. Additionally, the company has ventured into solar power generation and its supply.
As per the Prospectus, the company’s (with a P/E of 14.27x) listed peers are KN Agri Resources Ltd (with a P/E of 11.52x), and Rama Phosphates Ltd (with a P/E of 41.26x).
Yashhtej Industries IPO subscription status
Yashhtej Industries IPO subscription status is 12% on day 1 so far, as per chittorgarh.com. The retail portion was subscribed 22%, and NII portion was booked 2%.
The company has received bids for 9,42,000 shares against 76,75,200 shares on offer on the first bidding day, at 13:39 IST, according to data on chittorgarh.com.
Yashhtej Industries IPO details
Yashhtej Industries IPO of ₹88.88 crore consists entirely of a fresh issuance of 80.79 lakh equity shares without any offer for sale (OFS) component.
The proceeds from the net issue will be allocated towards working capital needs, capital expenditures, and general corporate purposes.
Erudore Capital Private Ltd serves as the lead manager for the book, while MAS Services Ltd. functions as the issue registrar. Prabhat Financial Services Ltd. acts as the Market Maker for the company.
Yashhtej Industries IPO GMP today
Yashhtej Industries IPO GMP today is ₹23. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Yashhtej Industries share price was indicated at ₹133 apiece, which is 20.91% higher than the IPO price of ₹110.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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