Yash Optics and Lens lists at 11% premium over issue price

The IPO, which was completely a fresh equity issue of 65.61 lakh shares, received a healthy response from investors with an overall subscription of over 30 times at close.

The net proceeds from the public offer will be used for funding capital expenditure for setting up a manufacturing unit for backward integration, purchase of plant and machinery at existing manufacturing plant, repayment of debt, working capital requirements and general corporate purposes.

The company is engaged in trading and distribution of spectacle and optical lenses which were sourced from Indian importers and traded in Mumbai.

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Over the years, it has increased its product portfolio with brands like Seto, IRIS etc. and expanded its network and distribution channel in Maharashtra, Gujarat and Rajasthan.

Yash Optics provides a wide array of vision correction solutions. It offers products from single vision lenses to advanced progressive lenses, customized progressive lenses to personalized progressives for professionals along with a wide range of coatings.

The global eyewear industry is a rapidly growing market, with the value of the sector estimated to reach $197.05 billion by 2027. The prescription eyewear segment accounts for 50% of this market share and is expected to grow at a CAGR of 6.08% between 2021 and 2025.

For the period ended September 2023, the company clocked revenues of Rs 18.66 crore and net profit of Rs 4.22 crore.

Sherni Shares acted as the lead manager to the issue and Bigshare Services was the registrar.