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Yash Highvoltage IPO
Yash Highvoltage Ltd
₹1,38,000 /1000 sharesMinimum Investment
Yash Highvoltage IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹146.00 | ₹277.40 | ₹131.40 (90.00%) |
Yash Highvoltage IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 12 Dec ‘24 - 16 Dec ‘24 | ₹1,38,000 | 1,000 | ₹138 - ₹146 |
| Issue Size | IPO Doc |
|---|---|
| 110.01Cr | RHP PDF |
Subscription rate
As of 16 Dec'24, 04:00 PM
| Qualified Institutional Buyers | 6.63x |
| Non-Institutional Investor | 58.63x |
| Retail Individual Investor | 79.10x |
| Total | 54.33x |
About Yash Highvoltage
Founded in
2002
Managing director
Mr. Keyur Girishchandra Shah
Parent organisation
Yash Highvoltage Ltd
Strengths & Financials of Yash Highvoltage
Strengths
Risks
Yash Highvoltage has two in-house electromagnetically shielded high voltage AC & impulse testing laboratories of the following ratings • 300kV AC Testing Laboratory. • 600kV AC & 1500kVp Impulse Testing Laboratory.
The company claims to be a dominant market player in manufacturing OIP condenser bushings of up to 245kV and high current bushings of up to 25,000 amps. It claims to have pioneered the localisation of explosion-proof and advanced RIP/RIS bushings through a technology partnership with a Switzerland-based company which is a pioneer in the field of solid insulation.
The rising demand for power in India, the ‘Make in India’ initiative of the government and the electrification of railways are tailwinds for the company.
Over the past 15 years, the company has gained vital experience and has built up a track record in the distribution and installation of bushings globally. From Fiscal 2022 to 2024, its bushing volumes have grown at a CAGR of 19%. It has exported to about 24 countries during this period.
The company has added about 98 new clients in FY24 and FY23.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 65.06 crore in FY22 to Rs 90.36 crore in FY23 to Rs 108.48 crore in FY24. PAT increased from Rs 8.71 crore in FY22 to Rs 11.42 crore in FY23 to Rs 12.06 crore in FY24.
The company plans to use a portion of the net proceeds of the IPO to set up a manufacturing unit at Suncity Industrial Park, Savli, Vadodara, Gujarat. However, no orders have been placed for certain plant, machinery and equipment, nor has it applied for the necessary government approvals for the unit. Any inability to commission the unit on time or cost overruns could adversely affect its business.
The top 10 clients of the company accounted for Rs 23.22 crore (80.03%), Rs 87.29 crore (80.47%), Rs 78.46 crore (86.83%) and Rs 55.81 crore and (85.78%) of its total revenue from operations for the three months ended June 30, 2024, and FY24, FY23 and FY22. The loss of any of these key clients or a slowdown in business from them could hurt the company’s business and financial standing.
A majority of its revenue is dependent on a single business segment – transformer bushings. Any adverse impact on the sales of transformer bushings could adversely affect its operations and profitability.
The manufacturing units – existing and proposed – are concentrated in Vadodara, Gujarat, Any disruption of business in this location could adversely affect the company.
The company has generated negative cash flow from its investing and financing activities during the previous three financial years and stub period. Any repeat of this would not be good for the company.
There are certain ongoing legal proceedings involving the company, its promoters and directors. Any adverse judgment in any of these cases could hurt the company’s business.
Yash Highvoltage Financials
*All values are in Rs. Cr
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Application Details of Yash Highvoltage IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹138 - 146 | ₹2 - 5 Lakh |
| High Networth Individual | ₹138 - 146 | ₹2 - 5 Lakh |
For Yash Highvoltage IPO, eligible investors can apply as Regular.