Yash Optics and Lens Makes Strong Market Debut

Yash Optics and Lens Makes Strong Market Debut/Pixabay

VoM News Desk | April 8, 2024 | 01:37 PM IST | Breaking News | Follow on Google News

Yash Optics and Lens Makes Strong Market Debut

Yash Optics and Lens Makes Strong Market Debut

Yash Optics & Lens saw a robust debut on the stock market, with its shares listed at ₹90 apiece on the NSE SME platform, marking a premium of 11.11% over the issue price of ₹81 per share.

Although the listing price was slightly below market estimates, the IPO garnered significant interest, with a grey market premium of over 17% before the listing.

The company’s IPO, which ran from March 27 to April 3, raised ₹53.15 crore at the upper end of the price band.

This comprised a fresh issue of 65.62 lakh shares, with an IPO lot size of 1,600 shares and a minimum investment requirement of ₹129,600 for retail investors. Yash Optics & Lens witnessed strong subscription levels across categories, with the issue oversubscribed 42.17 times overall.

Yash Optics & Lens specializes in manufacturing and supplying spectacle lenses and optical lenses, offering a wide range of vision correction solutions. With Shreni Shares Ltd as the book-running lead manager and Bigshare Services Pvt Ltd as the IPO registrar, the company is poised for growth in the vision correction industry.

Source: Mint

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