Neetu Yoshi IPO Day 1: GMP, subscription status, price band, other details of BSE SME IPO
Neetu Yoshi IPO: The initial public offering (IPO) of customised ferrous metallurgical products manufacturer opened for subscription on Friday, June 27. The book-building issue of ₹ 77.04 crore is entirely a fresh issue of 1,02,72,000 shares. The latest grey market premium of Neetu Yoshi indicates the stock could be listed at a healthy premium of over 30 per cent.
By 10:25 AM on the first day of subscription, the issue had been subscribed to 2 per cent, with the retail portion booked 4 per cent and the segment reserved for non-institutional investors (NIIs) subscribed 3 per cent. The segment reserved for qualified institutional buyers had not seen any subscriptions until then.
1. Neetu Yoshi IPO GMP: According to market sources, the latest grey market premium (GMP) of Neetu Yoshi shares was ₹ 24. The latest GMP indicates the stock could be listed at a 32 per cent premium.
2. Neetu Yoshi IPO date: The BSE SME IPO opened for subscription on Friday, June 27, and will conclude on Tuesday, Jul 1.
3. Neetu Yoshi IPO price: The price band of the public issue has been fixed at ₹ 71 to ₹ 75 per equity share.
4. Neetu Yoshi IPO size: The company intends to raise ₹ 77 crore from the issue, which, according to the RHP, it will use to set up a new manufacturing facility and for general corporate purposes.
5. Neetu Yoshi IPO lot size: Bidders can apply in lots, and one lot of the SME IPO comprises 1,600 company shares.
6. Neetu Yoshi IPO reservation: 48,72,000 shares are reserved for QIBs, while 34,14,400 shares are reserved for retail investors. 14,65,600 shares are reserved for NIIs.
7. Neetu Yoshi IPO allotment date: The IPO is closing on Tuesday, July 1, so as per SEBI's listing rules, the company is expected to finalise the share allotment on Wednesday, July 2. Successful bidders can expect shares of the company in their demat accounts on Thursday, July 3, and bidders who fail to get the allocation may get the refund on the same day.
8. Neetu Yoshi IPO book-running lead manager and registrar: Horizon Management Private Limited is the book-running lead manager, while Skyline Financial Services Private Limited is the registrar for the issue.
9. Neetu Yoshi IPO listing: As per SEBI's T+3 rule of IPO listing, the SME IPO is proposed for listing on the BSE SME on Friday, July 4.
10. Neetu Yoshi's business overview: According to Neetu Yoshi's RHP, the company is a foundry with an integrated CNC machine shop engaged in the business of manufacturing customised products in different grades of ferrous metallurgical products.
"Our product portfolio covers different grades of mild steel, spheroidal graphite iron, cast iron and manganese steel, from as small as 0.2 kgs to 500 kgs finished metallurgical products. We are a RDSO-certified vendor for the manufacturing and supply of over 25 casting products for Indian Railways," says the RHP.
The company's profit for FY22 stood at ₹ 7.03 lakh, which rose to ₹ 42.32 lakh in FY23 and surged to ₹ 12.58 crore in FY24. In FY25, till December 31, the company's profit was ₹ 12 crore.
Revenue from operations for FY22 came at ₹ 4.59 crore, for FY23 at ₹ 16.23 crore, for FY24 at ₹ 47.33 crore and for FY25 (till December 31) at ₹ 51.36 crore.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
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