Neetu Yoshi shares to list today. GMP points to healthy opening
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Neetu Yoshi Limited is set to debut on the BSE SME platform on Friday, July 4, after witnessing robust investor interest in its Rs 77.04 crore IPO. The issue, entirely a fresh offering of 1.02 crore shares at a price of Rs 75 per share, was subscribed 128.18 times overall, with strong demand across investor categories.Retail investors bid 91.21 times their allocated portion, while non-institutional investors (NII) oversubscribed their quota by a staggering 256.69 times. Qualified Institutional Buyers (QIBs) also showed healthy participation, subscribing 96.36 times.The grey market premium (GMP) for Neetu Yoshi IPO stood at Rs 18.5 on the eve of listing, indicating an expected listing price of around Rs 93.5 per share, a 24% premium over the issue price.The public issue garnered significant traction owing to the company's sharp earnings growth and its role as an RDSO-certified vendor to Indian Railways. The IPO proceeds will be used primarily to set up a new manufacturing facility, with the remaining funds allocated to general corporate purposes.Based in Uttarakhand, Neetu Yoshi manufactures customized ferrous metal castings used in railway components such as brake beams, couplers, axle boxes, and structural castings.The company serves Indian Railways and allied sectors through a fully equipped plant and offers a diverse portfolio including cast iron, SG iron, and manganese steel products.Financially, Neetu Yoshi has shown a sharp uptrend. For FY24, it reported revenue of Rs 47.45 crore and net profit of Rs 12.58 crore.The IPO was managed by Horizon Management, with Skyline Financial as registrar.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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