Yash Highvoltage plans Rs 151 crore fund raise for bushing expansion
Yash Highvoltage Limited has approved a preferential issue of equity shares and convertible warrants aggregating up to approximately Rs 151 crore. The proposed fund raise is aimed at expanding the company’s transformer bushing manufacturing capabilities, particularly in the extra-high voltage segment.
The proposal is subject to shareholder approval and other statutory and regulatory clearances.
Issue structure
The preferential issue comprises up to 12,62,131 equity shares and 8,32,177 convertible warrants at an issue price of Rs 721 per security, including a premium of Rs 716 per share or warrant over the face value of Rs 5.
The total consideration amounts to Rs 150,99,96,068. This includes Rs 90,99,96,451 from the allotment of 12,62,131 equity shares to 12 non-promoter investors and Rs 59,99,99,617 from the allotment of 8,32,177 warrants to Malabar India Fund Limited, a Category-I Foreign Portfolio Investor (FPI).
The relevant date for pricing is June 15, 2026. The warrants can be converted into equity shares within 18 months from the date of allotment. Any warrants not exercised within this period will lapse, with 25% of the consideration paid being forfeited.
Expansion plans
The company intends to use the proceeds to expand its Resin-Impregnated Paper (RIP) bushing manufacturing facility. The planned expansion will increase the facility’s capability from the previously envisaged 245 kV range to the 550 kV category.
The move is expected to enable Yash Highvoltage to supply bushings for extra-high voltage transmission applications, a segment currently served by a limited number of manufacturers.
The company also plans a brownfield expansion of its existing Oil-Impregnated Paper (OIP) bushing manufacturing facility to meet growing demand from transformer manufacturers, utilities and infrastructure developers.
Technology and testing infrastructure
Part of the investment will be directed towards advanced assembly and testing infrastructure, including high-voltage testing facilities.
The company also plans to strengthen its engineering, product development and certification capabilities to align products with international standards and support expansion into higher voltage categories.
Sector outlook
Yash Highvoltage manufactures transformer bushings used in power generation, transmission and distribution equipment.
The company stated that investments in transmission infrastructure are increasing due to renewable energy integration, grid modernisation and rising electricity demand from industrialisation, urbanisation, data centres and electric vehicle infrastructure.
Stock exchange disclosure
Yash Highvoltage Limited disclosed that its board has approved the preferential issue of equity shares and convertible warrants aggregating up to approximately Rs 151 crore. Monarch Network Capital Limited has been appointed as the Exclusive Financial Advisor and Sole Investment Banker for the transaction.
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