NewsIPOYajur Fibres IPO Closes with 1.31 Times Subscription, Victory Electric Vehicles Reaches 97% BookingYajur Fibres IPO Closes with 1.31 Times Subscription, Victory Electric Vehicles Reaches 97% Booking
Yajur Fibres' ₹120.4 crore IPO closed with 1.31 times subscription on January 9, receiving strong retail investor response at 1.51 times their quota. Victory Electric Vehicles International achieved 97% subscription for its ₹34.56 crore issue. Both companies will finalise allotment by January 12 and list on BSE SME and NSE Emerge on January 14, with Yajur Fibres planning expansion of manufacturing capacity and Victory Electric focusing on capital expenditure and working capital requirements.
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West Bengal-based cottonised bast fibres manufacturer Yajur Fibres successfully concluded its Initial Public Offering on January 9 with robust investor interest, achieving 1.31 times subscription. Simultaneously, Victory Electric Vehicles International reached 97% subscription for its public issue, marking strong market reception for both SME offerings.
Yajur Fibres IPO Performance
The three-day public issue from January 7-9 attracted significant investor participation across all categories. The company's performance metrics demonstrate healthy market appetite:
| Category | Subscription Level |
|---|---|
| Overall Subscription | 1.31 times |
| Retail Investors | 1.51 times |
| Qualified Institutional Buyers | 1.03 times |
| Non-Institutional Investors | 93% |
| Total Applications Received | 4,682 |
| Shares Applied For | 90.89 lakh |
The Kankaria Group company approached capital markets to raise ₹120.4 crore through the public issue of 69.2 lakh shares, priced at the upper end of the ₹168-174 per share price band.
Fund Utilisation Strategy
Yajur Fibres has outlined a comprehensive expansion plan for the IPO proceeds across multiple strategic initiatives:
| Purpose | Amount (₹ crore) | Details |
|---|---|---|
| Manufacturing Expansion | 11.9 | 50,000 sq ft shed setup and additional 4 tons/day capacity at Howrah unit |
| Greenfield Unit | 48.0 | Subsidiary Yashodha Linen Yarn facility at Ujjain, MP for wet spun linen yarn |
| Working Capital | 36.0 | Operational requirements |
| General Corporate Purposes | Balance | Corporate expenses and strategic initiatives |
The company specialises in producing premium cottonised bast fibres, including flax (linen), jute, and hemp, positioning itself in the growing sustainable textile segment.
Victory Electric Vehicles Performance
Victory Electric Vehicles International demonstrated strong market interest despite falling marginally short of full subscription. The New Delhi-based electric vehicles manufacturer achieved impressive metrics:
| Parameter | Details |
|---|---|
| Subscription Level | 97% |
| Shares Subscribed | 81.36 lakh |
| Offer Size | 84.3 lakh shares |
| Applications Received | 714 |
| Issue Price | ₹41 per share |
| Total Fundraising | ₹34.56 crore |
The company plans to deploy the raised capital for capital expenditure, working capital requirements, and general corporate expenses, supporting its growth in the electric vehicles sector.
Listing and Allotment Timeline
Both companies will follow identical post-issue timelines for investor convenience. Share allotment finalisation is scheduled for January 12, with equity shares commencing trading on BSE SME and NSE Emerge platforms on January 14.
Horizon Management served as the merchant banker for Yajur Fibres' public issue, while Corpwis Advisors managed Victory Electric Vehicles International's IPO, ensuring professional execution of both offerings in the SME segment.
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