Neetu Yoshi IPO Opens: Latest GMP, Subscription Status, Price Band And Other Key Details

Neetu Yoshi Ltd. launched its initial public offering (IPO) on Friday to raise over Rs 75 crore from the primary market. The company is a manufacturer of metallurgical products. Investors who want to bid for shares in the IPO can check the following details before submitting their bids. 

The BSE SME issue is a bookbuilding offer worth Rs 77.04 crore. Neetu Yoshi IPO comprises entirely a fresh issue of 1.03 crore shares.

The price band for the IPO has been fixed between Rs 71 and Rs 75 per share.

Retail investors can invest by bidding for a single lot size of 1,600 shares, requiring an investment of Rs 1,13,600. High-Net-Worth Individuals need to bid for two lots, amounting to an investment of Rs 2,40,000.

Investors can bid for shares in the IPO from June 27 to July 1. Share allotment is proposed to be finalised on July 2. Successful bidders will receive the shares in their Demat accounts on July 3 and refunds for non-allottees will be processed on the same day.

Shares of Neetu Yoshi are tentatively scheduled to be listed on the BSE SME platform on July 4.

Retail investors will be allocated 33.24% of the shares. The company has set aside 47.43% of the net issue for the Qualified Institutional Buyers (QIBs) and 14.27% for the Non-Institutional Investors (NIIs).

Horizon Management Pvt. is the book-running lead manager of the Neetu Yoshi IPO. Skyline Financial Services Pvt. is the registrar for the issue and NNM Securities Pvt. is the market maker. 

*The subscription status will be updated soon

The grey market premium (GMP) for the Neetu Yoshi IPO stood at Rs 24 as of 8:30 a.m. on June 27. The GMP indicates a listing price of Rs 99 apiece at a premium of 32.00% per share on the upper end of the price band.

Note: GMP does not represent official data and is based on speculation.

The company is in the business of manufacturing metallurgical products. Its portfolio includes cast iron, mild steel and spherical graphite iron.

Use Of Proceeds

The company will use proceeds from the IPO to set up a manufacturing facility and for general corporate purposes. 

Financials

The company reported a multi-fold year-on-year (YoY) jump in its profit after tax (PAT) to Rs 12.58 crore in FY24 from Rs 42.32 lakh in FY23. Revenue from operations surged nearly three times to Rs 47.33 crore in FY24 from Rs 16.23 crore in FY23.

For the nine months ending Dec. 31, 2024, its PAT stood at Rs 11.99 crore and revenue from operations at Rs 51.36 crore. 

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.