IPO Details
RHP/DRHPIssue Date
27 Jun - 1 Jul'25
Investment/lot
₹ 120000
Price Range
71 - 75
Lot Size
1600
IPO Size
₹ 77.04 Cr
IPO Listing Details
Listing On
4 Jul'25
Issue Price
75
Listed Price
₹ 105
Retail Gain/Listing Gain
▲40.00%
Schedule of Neetu Yoshi IPO
Start date
27/06/2025
End date
01/07/2025
Allotment of bids
02/07/2025
Refund Initiation
03/07/2025
Listing on exchange
04/07/2025
About Neetu Yoshi IPO
The IPO of Neetu Yoshi Ltd comprises a fresh issue of up to 1,02,72,000 equity shares, aggregating up to ₹77.04 crores. There’s no offer sale in this IPO, which is a 100% book-built issue. The price band of the issue is ₹71 -₹75. The lot size of the IPO is 1600.
The opening date of the IPO is June 27, 2025. The closing date of the IPO is July 1, 2025. The allotment date is July 2, 2025. The initiation of refunds will take place on July 3, 2025. The listing date of the IPO is July 4, 2025. The credit of shares to the demat account will take place on July 3, 2025.
Objectives of Neetu Yoshi IPO
- Setting up of new manufacturing facility
- General corporate purposes
Neetu Yoshi IPO Valuation
Neetu Yoshi IPO Share Offer and Subscription Details
| Investor | Shares Offered |
|---|---|
Market Maker | 5.06% of the issue size |
QIBs | Not more than 50% of the net issue |
Non-institutional Applicants | Not less than 15% of the net issue |
Retail Individual Investors | Not less than 35% of the net issue |
Industry Outlook
The India metal casting market size reached US$ 12,473 Million in 2023 which is expected to reach US$21,252 Million by 2032, exhibiting a growth rate (CAGR) of 5.8% during 2024-32.
India represents one of the largest metal casting markets in the Asia Pacific region. The market is primarily driven by the rising demand for lightweight vehicles in the country due to the inflating incomes of consumers. The growing automotive industry and rapid urbanisation and industrialisation have also created a need for construction equipment.
Besides this, rising environmental awareness is stimulating the market growth. Moreover, the process of metal casting forms an integral part in the goods and equipment industry to produce a wide variety of home appliances, surgical instruments and critical components for aircraft and automobiles.
Company Information
Neetu Yoshi Ltd a foundry with integrated CNC machine shop engaged in the business of manufacturing of customised products in different grades of ferrous metallurgical products. Its product portfolio covers different grades of mild steel, spheroidal graphite iron, cast iron and manganese steel, from as small as 0.2 Kgs to 500 Kgs finished metallurgical products. The company is a RDSO certified vendor for manufacturing and supply of over 25 casting products for Indian Railways. They are also ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 accredited company which certifies their quality management, environmental management and occupational health & safety management system respectively, employed by them in their manufacturing facility.
Neetu Yoshi IPO Strengths
Fully Equipped and RDSO Approved Manufacturing Facility
The company operates through its manufacturing facility situated on land measuring approximately 7,173 Sq. Meters located at Khasara, Uttarakhand. Its manufacturing unit is equipped with the latest equipment and trained manpower.
Its manufacturing technology offers high operational efficiency to manufacture customised products as per customers specification. It believes that the company’s manufacturing technology, trained workforce and managerial expertise results in a consistent level of productivity.
Strategically located Manufacturing Facility
The company’s manufacturing facility is strategically located in close proximity to its raw material sources i.e. Jagdari Railway Workshop from where it procures high-quality alloy, which minimises its transportation costs and provides logistics advantage and cost benefits resulting in improved operating margins.
Its manufacturing facility, being situated in the state of Uttarakhand, also allows it to avail electricity at lower power tariffs, as the state of Uttarakhand offers one of the lower power tariffs in the country.
Quality Assurance and Control
As a "Class A" foundry certified by Indian Railways, the company is recognised for its good quality standards. It’s a quality conscious organisation, which believes in manufacturing quality products. Its products and processes undergo regular quality checks to ensure minimal defects.
It follows strict manufacturing practices and standards, and its manufacturing facility benefits from the quality benchmarking certifications such as ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, further validating its commitment to quality management, environmental management, and occupational health and safety, respectively.
Risks of Neetu Yoshi IPO
- Breakdown in Manufacturing Facility
The company’s manufacturing facility is located in Uttarakhand. Any disruption, breakdown or shutdown of its manufacturing facility may have a material adverse effect on its business, financial condition, results of operations and cash flow.
- Fluctuation in Raw Material Prices
The company’s manufacturing activity is subject to availability of raw material and the costs of the raw materials. Any shortage in availability or fluctuations in raw material prices, may have a material adverse effect on its business, financial condition, results of operations and cash flows.
- Substantial Dependence on Indian Railways
The company derives majority of its revenues from contracts with a limited number of customers such as Jupiter Wagons Limited, Titagarh Wagons Limited, Om Besco Rail Products Limited, JL Steel-2 who depend upon Indian Railways for award and execution of the projects awarded to them and therefore its revenues substantially dependent on Indian Railways and Indian Railway Sector.
All Financial Information about Neetu Yoshi
Comparison with peers
| Company Name | Revenue from Operations (in ₹crores) | EPS in ₹ | Return on Net Worth (in %) | NAV Per Share (in ₹) |
|---|---|---|---|---|
Neetu Yoshi Ltd | 47.3342 | 7.39 | 99.28 | 7.29 |
Gujarat Intrux Ltd | 57.2017 | 21.42 | 12.26 | 180.46 |
Nelcast Ltd | 1266.940 | 6.25 | 10.99 | 59.68 |
Steelcast Ltd | 409.8145 | 37.06 | 30.71 | 133.21 |
Anchor Investor Bidding Date
Anchor investor bid period starts on June 26, 2025.
IPO Registrar and Book Running Lead Manager
- IPO Registrar: Skyline Financial Services Pvt Ltd
- Book Running Lead Manager: Horizon Management Pvt Ltd
Business Model
Neetu Yoshi Ltd has a diverse product portfolio of over 25 products supplemented by its ability to make customised products for its customers. On the date of the draft red herring prospectus, the company is majorly catering and serving Indian Railways through its finished metallurgical products which are used for production of critical safety products, i.e. braking solutions, suspensions, propulsion aids & coupling attachments for trains.
Company Growth Trajectory
The revenue from operations of Neetu Yoshi Ltd jumped from ₹4.5885 crores in FY 22 to ₹47.3342 crores in FY 24. Its EBITDA margin grew from 3.81% in FY 22 to 36.31% in FY 24, while net profit margin grew from 1.53% in FY 22 to 26.58% in FY 24. Quality assurance and control coupled with strategically located manufacturing facility has aided in the company’s growth.
Market Position
Neetu Yoshi Ltd has a diverse product portfolio of over 25 products supplemented by its ability to make customised products for its customers. The company is ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certified which certify its quality management, environmental management and occupational health & safety management system respectively, employed by the company in its manufacturing facility.
Neetu Yoshi IPO Profit and Loss
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Total Income (in ₹crores) | 47.4536 | 16.3283 | 4.6299 |
Profit Before Tax (in ₹crores) | 15.1852 | 0.5627 | 0.1287 |
Profit After Tax (in ₹crores) | 12.5816 | 0.4232 | 0.0703 |
EBITDA (in ₹crores) | 17.1857 | 1.2055 | 0.1749 |
EPS in ₹ | 7.39 | 1.51 | 0.72 |
Neetu Yoshi IPO Balance Sheet
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Profit Before Tax (in ₹crores) | 15.1852 | 0.5627 | 0.1287 |
Net Cash Generated from Operating Activities (in ₹crores) | 7.6725 | (1.9527) | 0.0189 |
Net Cash Used in Investing Activities (in ₹crores) | (16.2236) | (7.5388) | (0.7048) |
Net Cash Used in Financing Activities (in ₹crores) | 9.5688 | 10.4188 | 0.7339 |
Cash & Cash Equivalents as At End of the Year (in ₹crores) | 1.9972 | 0.9795 | 0.0522 |
How to Check Allotment Status of the Neetu Yoshi IPO?
1. Visit the Registrar’s Website
- Visit the official website of Skyline Financial Services Pvt Ltd
- Click on ‘Public Issue’ from ‘Investors’ dropdown
- Choose ‘Company Name’
- Enter DPID/Client ID or Application Number or PAN Number
- Click on ‘Search’ to know the status
2. Check on the Bombay Stock Exchange Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investor Services' tab. Under 'Investors Services', click on 'Status of Issue Application'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:
- Choose the Issue Type
- Select the Issue Name from dropdown
- Put in either your application number or PAN number
- Check the box ‘I’m not a robot’
- Click on ‘Search’ to know allotment status
How to Apply for the Neetu Yoshi IPO?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Neetu Yoshi IPO FAQs
When is Neetu Yoshi IPO listing date?
Neetu Yoshi IPO will list on 2025-07-04.
What is the issue size of Neetu Yoshi IPO?
77.04 is the issue size of Neetu Yoshi IPO.
What is the minimum lot size required for Neetu Yoshi IPO?
The minimum lot size is 1600 shares and the investment required is ₹120000.
What is the price band of the Neetu Yoshi IPO?
The price band of Neetu Yoshi IPO is ₹71 to ₹75.
Where can I read more about Neetu Yoshi business?
You can read more about Neetu Yoshi and its IPO from the company’s red herring prospectus (RHP) here.
What is the Neetu Yoshi IPO?
The Neetu Yoshi Ltd IPO comprises a fresh issue of up to 1,02,72,000equity shares.
When will the IPO of Neetu Yoshi Ltd go live?
The IPO will open for subscription on June 27, 2025 and will close on July 1, 2025.
From where can I get more information about the IPO of Neetu Yoshi Ltd?
To get more information about the IPO of Neetu Yoshi Ltd, click on the company’s red herring prospectus here.
