Neetu Yoshi IPO Subscribed 115.17x on Final Day; QIBs and NIIs Lead Frenzied Bidding
By Shishta Dutta | Updated at: Oct 27, 2025 11:58 AM IST
Dehradun, July 1, 2025 — Due to the tremendous demand from all investor types, particularly the institutional and HNI segments, Neetu Yoshi Limited’s ₹102.72 crore SME IPO closed today with an impressive aggregate subscription of 115.17 times.
The public offering attracted bids totalling 84.67 crore shares, out of the 73.52 lakh shares that were offered, according to BSE data as of 3:56 PM.
Final Day Subscription Summary (As of 01-Jul-2025, 15:56 IST)
| Category | Shares Offered | Applications Received | Shares Bid For | Subscription (x) |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 19,52,000 | 92 | 18,80,97,600 | 96.36 |
| • FIIs | – | 22 | 4,99,04,000 | – |
| • Banks/Insurers/FIs | – | 4 | 1,96,52,800 | – |
| • Others | – | 66 | 11,85,40,800 | – |
| Non-Institutional Investors (NIIs) | 19,85,600 | 17,597 | 37,56,83,200 | 189.20 |
| • Corporates | – | 321 | 4,73,42,400 | – |
| • Individuals (HNIs) | – | 17,075 | 32,25,04,000 | – |
| • Others | – | 201 | 58,36,800 | – |
| Retail Individual Investors (RIIs) | 34,14,400 | 1,76,876 | 28,29,56,800 | 82.87 |
| • Cut-off Bids | – | 1,32,220 | 21,15,52,000 | – |
| • Price Bids | – | 44,656 | 7,14,04,800 | – |
| Total | 73,52,000 | 1,94,565 | 84,67,37,600 | 115.17 |
Key Observations
- NIIs led the charge with an eye-popping 189.20x subscription, reflecting strong interest from high-net-worth individuals and corporates.
- QIBs followed suit, absorbing their portion by 96.36x, signaling confidence from institutional investors such as FIIs and banks.
- Retail participation was robust with an 82.87x oversubscription, backed by over 1.76 lakh applications.
- The IPO received total applications exceeding 1.94 lakh, marking one of the most aggressive bidding rounds for a BSE SME listing this year.
What’s Next
With such overwhelming demand, investors can expect allotment to be highly competitive. The basis of allotment is expected to be finalised by July 3, with listing likely to follow by July 5 on the BSE SME platform.
Company Overview
Based in Dehradun, Neetu Yoshi Limited produces railway-grade castings and parts for Indian Railways. In order to further its forward integration strategy and increase capacity, the IPO funds will be utilised to establish a new factory in Kanpur that is dedicated to bogies and couplers.
The IPO’s success confirms the high level of investor interest in precision manufacturing and railway infrastructure in the SME sector.
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