The initial public offering (IPO) of Yajur Fibres Limited commenced its subscription journey today, January 7, marking a significant step for the sustainable bast fiber manufacturer. The company aims to raise a total of ₹120 crore through this fresh issue of equity shares.
Strong Opening Day Subscription
As the subscription window opened, investor interest was clearly visible. By the end of the first day, at 5:00 PM, the issue had received bids for approximately 60.61 lakh shares. This was against the total offer of 65.73 lakh shares, resulting in an overall subscription rate of 0.92 times.
A closer look at the segment-wise data reveals a varied appetite. The retail investor portion was fully subscribed, indicating strong interest from individual investors. The category for Non-Institutional Investors (NIIs) saw a subscription of 0.73 times. The most significant demand came from Qualified Institutional Buyers (QIBs), whose reserved quota was oversubscribed, booked 1.03 times according to the latest exchange data.
Key Details of the Yajur Fibres IPO
The public offer is open for subscription until Friday, January 9. Investors can bid for shares in a price band of ₹168 to ₹174 per equity share. For retail investors, the minimum investment is substantial, with a lot size of 1,600 shares, translating to an application amount of roughly ₹2.78 lakh.
The allocation is structured with specific reservations:
- 64,000 shares for Qualified Institutional Buyers (QIBs).
- 19.51 lakh shares for Non-Institutional Investors (NIIs).
- 45.58 lakh shares for retail investors.
The timeline for the IPO process is set. The allotment of shares is scheduled for Monday, January 12. Successful applicants can expect the shares to be credited to their demat accounts by Tuesday, January 13. Refunds for those not allotted will also be processed on the same day. The company plans to list its shares on the BSE SME platform on Wednesday, January 14.
Utilisation of Funds and Company Profile
The capital raised from this maiden share sale will be strategically deployed. The net proceeds are earmarked for capacity expansion, meeting working capital requirements, and other general corporate purposes. This infusion is expected to fuel the company's next phase of growth.
Yajur Fibres operates in the niche segment of sustainable textiles. The company specializes in processing and manufacturing bast fibers like flax, jute, and hemp. Its core expertise lies in 'cottonizing' long and brittle bast fibers, transforming them into short, cotton-like fibers that can be easily blended with cotton and synthetic fibers. This process, backed by extensive research and development, positions the company as an innovator in the sustainable fiber market.
The book-running lead manager for the issue is Horizon Management Pvt. Ltd., with MAS Services Ltd. acting as the registrar. The market maker for the company is Giriraj Stock Broking Pvt. Ltd..
