New Delhi, July 4(HS): Neetu Yoshi, a ferrous metallurgical products company, successfully debuted on the stock market today, delighting its IPO investors. Shares were priced at 75 rupees during the IPO and listed on the BSE SME platform with a 40 percent gain, opening at 105 rupees. After initial selling pressure dropped the price to 100.20 rupees, buying activity pushed shares to the upper circuit limit of 110.25 rupees, resulting in a 47 percent profit for IPO investors on the first trading day.

The IPO, valued at 77.04 crore rupees, was open for subscription from June 27 to July 1 and saw massive interest, with an overall subscription of 128.18 times. Qualified Institutional Buyers (QIB) subscribed 96.36 times, Non-Institutional Investors (NII) subscribed 256.69 times, and retail investors subscribed 91.21 times. The IPO issued 10,272,000 shares with a face value of 5 rupees to fund a new manufacturing facility, working capital needs, and general purposes.

Financially, the company reported a net profit of 700,000 rupees for 2021-22, increasing to 12.58 crore rupees in 2023-24, with revenue growing at a compound annual rate of over 220 percent, reaching 47.45 crore rupees.

Hindusthan Samachar / Jun Sarkar