NSE SME Yash Optics & Lens zooms on listing

Shares of Yash Optics & Lens were quoting at Rs 93.45 on the NSE, a premium of 15.37% compared with the issue price of Rs 81.

The scrip was listed at Rs 90, a premium of 11.11% compared with the initial public offer (IPO) price. The stock is currently up 3.63% over its listing price.

The counter hit a high of Rs 94.50 and a low of Rs 90. About 27.14 lakh shares of the company changed hands at the counter.

Yash Optics & Lens' IPO was subscribed 29.15 times. The issue opened for bidding on 27 March 2024 and it closed on 3 April 2024. The price band of the IPO was fixed at Rs 75 to Rs 81 per share.

The IPO comprised fresh issue of 65,61,600 equity shares. The promoter and promoter group shareholding diluted to 71.63% from 97.45% pre-IPO.

The company intends to utilise the net proceeds to meet working capital requirements, 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 and to meet general corporate purpose.

Ahead of the IPO, Yash Optics & Lens on 26 March 2024, raised Rs 13.78 crore from anchor investors. The board allotted 17.02 lakh shares at Rs 81 per share to 7 anchor investors.

Yash Optics & Lens is primarily engaged in the business of manufacturing, trading, distribution and supplying of comprehensive range of spectacle/optical lenses. It offers single vision lenses to advanced progressive lenses, customized progressive lenses to personalized progressives for professionals along with wide range of coatings. As of 31 December 2023, the company has total 106 employees.

The company recorded revenue from operations of Rs 18.66 crore and net profit of Rs 4.22 crore for the period as on 30 September 2023.

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