Yash Optics and Lens IPO: Price band, issue size, key dates, other details to know

The floor price is 7.5 times the face value and cap price is 8.1 times of the face value of the equity shares. Yash Optics and Lens IPO has reserved not more than 50% of the issue for Qualified Institutional Buyers (QIBs), not less than 35% for the retail investors, a minimum of 15% for the non-institutional investors, and up to 3,31,200 equity shares or 5.05% of the issue for the market makers.

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Tarun Manharlal Doshi, Dharmendra M. Doshi, and Chirag Manharlal Doshi are the company’s promoters.

According to the company’s Red Herring Prospectus (RHP), it offers a variety of  vision correction solutions. The company’s main lines of business include the production, sales, trading, and provision of a wide variety of spectacle and optical lenses. The firm offers a variety of coatings in addition to single vision lenses, sophisticated progressive lenses, personalised progressives for professionals, and customised progressive lenses.

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Because the products are offered at every price point, the business may cater to a wide spectrum of clients, including those in the economy. The company produces lenses according to the clients’ prescriptions and orders.

The company’s listed peer is GKB Ophthalmics Ltd (with a P/E of -16.58 times), as per the RHP.

Between March 31, 2022, and March 31, 2023, the company’s profit after tax (PAT) climbed by 18.32% and its revenue jumped by 33.3%.

Yash Optics and Lens IPO details 

Yash Optics and Lens IPO, which is worth about ₹53.15 crore, consists of a fresh issue of 65,61,600 equity shares with a face value of ₹10. There is no offer-for-sale component.

The company intend to utilise the proceeds of the issue to meet the following objects: funding of capital expenditure for setting up a manufacturing unit for backward integration; purchase of Plant and Machinery at existing manufacturing unit; repayment/ prepayment of certain borrowings availed by the company; funding working capital requirements of the company and general corporate purposes.

Also Read: Krystal Integrated Services share price makes a decent debut, stock opens with 9.8% premium at ₹785 on NSE

The registrar for the Yash Optics and Lens IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Shreni Shares Limited. Rikhav Securities is the market maker.

Tentatively, Yash Optics and Lens IPO basis of allotment of shares will be held on Thursday, April 4, and the company will initiate refunds on Friday, April 5, while the shares will be credited to the demat account of allottees on the same day following refund. Yash Optics and Lens share price is likely to be listed on NSE SME on Monday, April 8.

Also Read: Krystal Integrated Services share price dips after listing at 11% premium on BSE. Buy, sell or hold?

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 21 Mar 2024, 01:42 PM IST