Yash Optics & Lens Ltd IPO Timeline

Yash Optics & Lens Ltd IPO opens on 27-Mar-2024, and closes on 03-Apr-2024. The Yash Optics & Lens Ltd IPO bid date is from 27-Mar-2024 to 03-Apr-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Yash Optics & Lens Ltd IPO Opening Date 27-Mar-2024
Yash Optics & Lens Ltd IPO Closing Date 03-Apr-2024
Basis of Allotment 04-Apr-2024
Initiation of Refunds 05-Apr-2024
Credit of Shares to Demat 05-Apr-2024
Yash Optics & Lens Ltd IPO Listing Date 08-Apr-2024

Yash Optics & Lens Ltd IPO Lot Size

Yash Optics & Lens Ltd IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or 129600).

Application Lots Shares Amount
Minimum 1 1600 ₹129600
Maximum 1 1600 ₹129600

Yash Optics & Lens Ltd IPO Details

Yash Optics & Lens Ltd IPO Date 27-Mar-2024 to 03-Apr-2024
Yash Optics & Lens Ltd IPO Face Value Shares of ₹10 per share
Yash Optics & Lens Ltd IPO Price ₹75 to ₹81 per share
Yash Optics & Lens Ltd IPO Lot Size 1600
Issue Size Shares of ₹10 (aggregating up to ₹53.15 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹53.15 Cr)
Offer for Sale -
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Tarun Manharlal Doshi, Dharmendra M Doshi, Chirag Manharlal Doshi.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Funding of capital expenditure for setting up a mfg unit for backward integration
  • 2 Purchase of plant and machinery at existing mfg unit
  • 3 Repayment/prepayment of certain borrowings availed by the company
  • 4 Funding working capital requirements of the company
  • 5 General corporate purposes

Company Financials

Yash Optics & Lens Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 60.57 41.20 9.02
03-2023 34.05 39.79 8.03
03-2022 24.45 29.86 6.82
Amount in ₹ Crore
  • Wide range of products with ability to customize.
  • In-house manufacturing facility with equipped machines and processes.
  • Brand Equity.
  • Customer Centric Business Model.
  • Quality assurance.
  • Experienced Promoters and management team.
  • PAN India Presence / Customer base across geographies.
  • No Dependency on single or few customers.
  • The company has certain outstanding litigation against it, an adverse outcome of which may adversely affect the company's business, reputation and results of operations.
  • The manufacturing activities in the Company has been started post the purchase of assets and liabilities from the M/s Yash Lenses (Proprietorship firm of one of its Promoter Mr. Tarun Manahrlal Doshi) thus the company has limited operating history as a Company which may make it difficult for investors to evaluate its historical performance or future prospects.
  • The Company has signed distributor agreement with HOYA Lens India Private Limited for exclusive right to sell, market and distribute the "Pentax" brand of ophthalmic lenses. Its inability to renew or maintain said agreement may have an adverse effect on its business operations.
  • Its business is dependent and will continue to depend on the company's manufacturing facility, and the company is subject to certain risks in its manufacturing process. Any slowdown or shutdown in its manufacturing operations or strikes, work stoppages or increased wage demands by its employees that could interfere with the company operations could have an adverse effect on its business, financial condition and results of operations.
  • Its existing manufacturing facility are concentrated in a single region i.e., Mumbai, Maharashtra and the inability to operate and grow its business in this particular region may have an adverse effect on the company's business, financial condition, results of operations, cash flows and future business prospects.
  • The company has not placed orders for the purchase of plant and machinery for which part of the funds are being raised through the Issue. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the plant and machineries in a timely manner, or at all, the same may result in time and cost over-runs.
  • Within the parameters as mentioned in the chapter titled "Objects of this Issue" beginning on page 79 of this Draft Red Herring Prospectus, the Company's management will have flexibility in applying the proceeds of the Issue. The fund requirement and deployment mentioned in the Objects of this Issue have not been appraised by any bank or financial institution.
  • The company does not have long-term agreements with suppliers for its raw materials and an increase in the cost of, or a shortfall in the availability or quality of such raw materials could have an adverse effect on its business, financial condition and results of operations.
  • The Restated Financial Statements have been provided by Peer Reviewed Chartered Accountants who is not Statutory Auditor of the Company.
  • Inventories and trade receivables form a major part of its current assets. Failure to manage the company's inventory and trade receivables could have an adverse effect on its sales, profitability, cash flow and liquidity.
  • If the company fail to retain its relationships with the company distributors, the company's business, financial condition, cash flows and operations will be adversely affected.
  • The Company had negative cash flows in the past years, details of which are given below. Sustained negative cash flow could impact its growth and business.
  • Certain premises including its registered office, branch offices and godowns are not owned by it and the company has only lease rights over such premises. In the event its lose such rights or are required to negotiate it, the company cash flows, business, financial conditions and results of operations could be adversely affected.
  • The company generate its major portion of sales from its operations in certain geographical regions both domestic and exports. Any adverse developments affecting its operations in these regions could have an adverse impact on its revenue and results of operations.
  • If the company fail to identify and effectively respond to changing consumer preferences and spending patterns or changing fashion trends in a timely manner, the demand for products could decrease, causing its revenue and results of operations to decline.
  • The company compete against alternative technologies and treatments that provide a substitute for optical/spectacle lenses.
  • Its trading activities are exposed to fluctuations in the prices of traded goods.
  • The company export its products in few countries. Any change in law or any other adverse events affecting these countries could have a significant adverse impact on its export orders and consequently on the company's results from operations.
  • Restrictions on import and an increase in shipment cost may adversely impact its business, cash flows and results of operations.
  • If the company does not continually enhance its existing products and develop and market new products, its product portfolio maybe come obsolete and the company may not achieve broad market acceptance and brand recognition.
  • The company may not be able to accurately manage its inventory, this may adversely affect its goodwill and business, financial condition and results of operations.
  • The company is subject to quality requirements and any product defect issues or failure by it to comply with quality standards may lead to the cancellation of existing and future orders, recalls and exposure to potential product liability claims.
  • Improper storage, processing and handling of its products could damage the company inventories and, as a result, have an adverse effect on its business, results of operations and cash flows.
  • The company is exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact its results of operations.
  • The company is dependent on third-party transportation providers for the supply of raw materials and on third-party couriers for delivery of its finished products.
  • If the company fail to acquire new consumers or fail to do so in a cost-effective manner, its may not be able to increase revenue or maintain profitability.
  • Its sales and profitability could be harmed if the company is unable to maintain or improve its brand image. Further any negative publicity with respect to its products could adversely affect its brand, business, financial condition and results of operations.
  • The Company logo "YASH OPTICS & LENS" is not registered with Registrar of Trademark; any infringement of its brand name or failure to get it registered may adversely affect its business. Further, any kind of negative publicity or misuse of its brand name could hamper the company brand building efforts and its future growth strategy could be adversely affected.
  • The Company operates under several Trademarks, brand names and other intellectual property rights not registered or owned by the Company. Revocation of the NOC given by Promoters may lead it to end up losing the authorization for usage, in such which event its business shall be adversely affected.
  • The Company is subject to foreign exchange control regulations which can pose a risk of currency fluctuations.
  • Its marketing campaigns may not be successful in increasing the popularity of its products and offerings. If the company marketing initiatives are not effective, this may adversely affect its business and results of operations.
  • The Company has entered into related party transactions in the past and may continue to enter into related party transactions in the future, which may potentially involve conflicts of interest with the equity shareholders.
  • The capacity of its current plant units is not fully utilized. Consecutively, if there is also any underutilization of its capacities in next three years, it could affect the company ability to fully absorb fixed costs and thus may adversely impact its financial performance.
  • There are certain discrepancies noticed in some of its financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities.
  • There are certain discrepancies/errors/delay filings noticed in some of its corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorizes in future, for non- compliance with provisions of corporate or any other law could impact the financial position of the Company to that extent.
  • Its business is operating under various laws which require the company to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business and its inability to obtain, maintain or renew requisite statutory and regulatory permits and approvals for its business operations could materially and adversely affect its business, prospects, results of operations and financial condition.
  • Its success largely depends upon the knowledge and experience of the company Promoters, Directors, its Key Managerial Personnel and Senior Management as well as the company's ability to attract and retain them. Any loss of its Promoter, Directors, Key Managerial Personnel, Senior Management or its ability to attract and retain them could adversely affect its business, financial condition and results of operations.
  • The company may not be successful in implementing its business strategies.
  • The company requires working capital for its smooth day-to-day operations of business and any discontinuance or its inability to acquire adequate working capital timely and on favourable terms may have an adverse effect on its operations, profitability and growth prospects.
  • The company requires working capital for its smooth day-to-day operations of business and any discontinuance or its inability to acquire adequate working capital timely and on favourable terms may have an adverse effect on itsoperations, profitability and growth prospects.
  • The orders placed by customers may be delayed, modified or cancelled, which may have an adverse effect on its business, financial condition and results of operations.
  • The company currently avail benefits under the EPCG licenses. In order to continuously avail the benefits, the company is required to export goods of a defined amount. Any failure in meeting the obligations its may be liable to pay duty proportionate to unfulfilled obligations along with interest.
  • Any increase in interest rates would have an adverse effect on its results of operations and will expose the Company to interest rate risks.
  • Its loan agreements with lender have several restrictive covenants and certain unconditional rights in favour of the lender, which could influence its ability to expand, in turn affecting its business and results of operations.
  • Excessive dependence on ICICI Bank in respect of Loan facilities obtained by the Company.
  • Unsecured loans taken by the Company can be recalled by the lenders at any time.
  • Its Promoters, members of Promoter Group and director have mortgaged their properties and provided personal guarantees to certain loan facilities availed by it, which if revoked may require alternative guarantees, repayment of amounts due or termination of the facilities.
  • The company may not be fully insured for all losses its may incur.
  • The company faces significant competition in its business which could adversely affect the company operations and its profitability.
  • There may be potential conflict of interests between the Company and other enterprises promoted by its promoters or directors.
  • Failure or disruption of its IT, manufacturing automation systems may adversely affect its business, financial condition and results of operations.
  • Its ability to pay dividends will depends upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and other factors.
  • Its Promoter and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • Adverse publicity regarding its products could negatively impact the company.
  • Employee misconduct including misuse of confidential data and failure to maintain confidentiality of information could harm it and is difficult to detect and deter.
  • Industry information included in this Draft Red Herring Prospectus has been derived from industry reports. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
  • Information relating to the installed manufacturing capacity of its manufacturing facilities included in this Draft Red Herring Prospectus are based on various assumptions and estimates and future production and capacity may vary.
  • If the company is unable to establish and maintain an effective internal controls and compliance system, its business and reputation could be adversely affected.
  • Its Directors, Key Managerial Personnel and Senior Management may have interests other than reimbursement of expenses incurred and normal remuneration or benefits in the Company.
  • An investment in the Equity Shares is subject to general risk related to investments in Indian Companies.
  • The determination of the Price Band is based on various factors and assumptions and the Issue Price of the Equity Shares may not be indicative of the market price of the Equity Shares upon listing on the Stock Exchange.
  • Its Equity Shares have never been publicly traded, and may experience price and volume fluctuations following the completion of the Issue. Further, its Equity Shares may not result in an active or liquid market and the price of its Equity Shares may be volatile and you may be unable to resell your Equity Shares at or above the Issue Price or at all.
  • The company has issued Equity Shares during the last one year at a price below the Issue Price.
  • There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the NSE Emerge in a timely manner or at all.
  • Any future issuance of Equity Shares may dilute your shareholding and sale of its Equity Shares by its Promoters or other shareholders may adversely affect the trading price of the Equity Shares.
  • There are restrictions on daily weekly monthly movement in the price of the equity shares, which may adversely affect the shareholder's ability to sell for the price at which it can sell, equity shares at a particular point in time.
  • Investors may be subject to Indian taxes arising out of capital gains on the sale of the Equity Shares.
  • Significant differences exist between Indian GAAP and other accounting principles, such as US GAAP and IFRS, which may be material to investors assessments of the Company's financial condition. its failure to successfully adopt IFRS may have an adverse effect on the price of its Equity Shares. The proposed adoption of IFRS could result in its financial condition and results of operations appearing materially different than under Indian GAAP.
  • Foreign investors are subject to foreign investment restrictions under Indian law that limits its ability to attract foreign investors, which may adversely impact the market price of the Equity Shares.
  • Expansion of its production capacity by way of installation of new plant and machineries at its existing manufacturing facility as well as setting up a new manufacturing unit through backward integration.
  • Improve Debt - Equity Ratio.
  • Improving functional efficiency.
  • Enhancing existing products base and product quality.
  • Expansion of Geographical Markets.

Yash Optics & Lens Ltd IPO Promoter Holding

Pre Issue Share Holding 87.58%
Post Issue Share Holding 64.36%

Yash Optics & Lens Ltd IPO Subscription Status (Bidding Detail)

The Yash Optics & Lens Ltd IPO is subscribed 29.1544 times on Apr 03, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 29.1544

Yash Optics & Lens Ltd IPO Prospectus

Yash Optics & Lens Ltd IPO Listing Date

Listing Date 08 Apr 24
BSE Script 92842
NSE Symbol YASHOPTICS
Listing In NSE - SME
ISIN INE0TO601017
IPO Price ₹81
Face Value ₹10

Yash Optics & Lens Ltd IPO Registrar

Bigshare Services Pvt Ltd

Phone: 022 - 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Yash Optics & Lens Ltd IPO Lead Manager(s)

  1. Shreni Shares Ltd

FAQs on Yash Optics & Lens Ltd IPO

Yash Optics & Lens Ltd IPO, which opens for subscription from 27-Mar-2024 to 03-Apr-2024 has an issue size of ₹53.15 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Yash Optics & Lens Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Yash Optics & Lens Ltd IPO Opens for subscription from 27-Mar-2024 to 03-Apr-2024.

The lot size of Yash Optics & Lens Ltd is 1600 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹129600 and ₹129600 respectively.

Allotment date for Yash Optics & Lens Ltd is 04-Apr-2024 and refund of application amount (in case allotment is not received) will begin from 05-Apr-2024. If your allotment goes through, then shares will be credited in your Demat account by 05-Apr-2024.

The registrar for Yash Optics & Lens Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Yash Optics & Lens Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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