New Delhi: Yajur Fibres, a manufacturer of premium cottonised bast fibres, on Tuesday said its Rs 120.41-crore initial share sale will open for public subscription on the BSE SME platform on January 7. The initial public offering (IPO) will conclude on January 9. The company has fixed a price band at Rs 168-174 per share, the company said in a statement.
File Image |
The IPO is entirely a fresh issue of 69.20 lakh equity shares with a face value of Rs 10 each. At the upper end of the price band, Yajur Fibres will fetch Rs 120.41 crore from the fresh issue. The net proceeds from the fresh issue will be utilised to expand capacity at the company's existing manufacturing unit at Jagannathpur, district Howrah, as well as for a greenfield linen yarn facility through its subsidiary.
Funds from the IPO will also be used for working capital requirements and general corporate purposes. "The net proceeds will strengthen our core operations through capacity expansion at our Howrah facility to meet anticipated demand for the cottonised fibre in forthcoming year, enhance operational efficiency," Ashish Kankaria, MD of Yajur Fibres, said. Yajur Fibres is part of the Kankaria Group.
On the financial front, the company reported a revenue of Rs 140.81 crore and profit after tax of Rs 11.67 crore in FY25. The company's shares are proposed to be listed on the BSE SME platform, with a tentative listing date fixed on January 14. Horizon Management Pvt Ltd is the sole book-running lead manager for the IPO.
Disclaimer: This story is from the syndicated feed. Nothing has changed except the headline.
