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Neetu Yoshi launched its ?77 crore IPO today, featuring 1.02 crore fresh equity shares open for subscription until July 1. The IPO, priced between ?71 and ?75 per share, anticipates listing on the BSE SME platform around July 4. The company plans to utilize the IPO proceeds to establish a new manufacturing unit and for general corporate needs. View More
Neetu Yoshi has opened its Rs 77 crore IPO today. The entirely fresh issue comprises 1.02 crore equity shares and will remain open for subscription till July 1. The allotment is expected on July 2, with listing tentatively scheduled for July 4 on the BSE SME platform. With a price band set at Rs 71 to Rs 75 per share, investors can bid for a lot size of 1,600 shares. Ahead of the issue opening, the GMP is around Rs 24, which is 32% above the issue price. The issue is being managed by Horizon Management , with Skyline Financial Services as registrar. The company has also secured Rs 21.90 crore from anchor investors ahead of the public offering, reflecting early institutional interest in this engineering-driven SME debut. Incorporated in 2020, Neetu Yoshi specialises in the manufacturing of customized ferrous metallurgical products for critical applications in Indian Railways. The company’s product line includes brake beams, coupling components, axle boxes, and suspension-related castings, ranging in weight from 0.2 kg to 500 kg. As an RDSO-certified vendor, it plays a key role in supplying parts vital to braking, propulsion, and structural support systems in locomotives and coaches. Live Events Financially, Neetu Yoshi has shown healthy growth, posting a revenue of Rs 47.45 crore and PAT of Rs 12.58 crore for FY 2023–24. The IPO proceeds will primarily be used to set up a new manufacturing facility (Rs 50.78 crore) and for general corporate purposes. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)