Yajur Fibres IPO 2026: Complete Analysis, GMP, Price, Subscription, & Investment Review
Yajur Fibres Limited is launching its Initial Public Offering (IPO) on January 7, 2026, aiming to raise ₹120.41 crores through the BSE SME platform. This represents one of the largest SME IPO offerings in recent months and signals an important turning point for the Howrah-based sustainable textile manufacturer. Investors seeking opportunities in the growing eco-friendly textile sector should evaluate this offering carefully, as the company operates in the niche bast fiber cottonization segment with exposure to both domestic and international markets.
Yajur Fibres IPO 2026: IPO Opening and Closing Dates
The Yajur Fibres IPO subscription window opens on Wednesday, January 7, 2026, and closes on Thursday, January 9, 2026. The basis of allotment will be finalized on January 12, 2026, followed by refund initiation on January 13, 2026. Shares are expected to list on the BSE SME exchange on January 14, 2026, providing investors with a quick turnaround from subscription to listing. The cut-off time for UPI mandate confirmation is 5:00 PM on January 9, 2026, which investors must note to ensure their applications are processed.
Yajur Fibres IPO 2026: Price Band and Lot Size Details
The price band for the Yajur Fibres IPO is set between ₹168 and ₹174 per equity share, with a face value of ₹10 per share. The lot size is fixed at 800 shares, requiring a minimum investment of ₹139,200 at the upper price band. Retail investors can bid for a minimum of 1 lot and a maximum of 2 lots (1,600 shares), while the retail quota comprises 4,556,000 shares, representing 65.84% of the total issue. Non-institutional investors (NII) have been allocated 1,952,000 shares, accounting for 28.21% of the offering.
Yajur Fibres IPO 2026: Issue Size and Objectives
This is an entirely fresh issue of 69.20 lakh equity shares aggregating to ₹120.41 crores at the upper price band, with no offer-for-sale component. The company intends to use the money from the IPO for several important projects, such as building a 50,000-square-foot manufacturing shed and increasing production capacity by up to 4 tons per day at its current facility in Jagannathpur, Howrah, for which ₹11.9 crores has been set aside. Additional funds will be deployed toward working capital requirements, debt repayment, and general corporate purposes to strengthen the company’s operational capabilities.
Yajur Fibres IPO 2026: Company Overview and Business Model
Yajur Fibres Limited is part of The Kankaria Group, a multi-billion dollar conglomerate with a workforce exceeding 20,000 employees. The company operates India’s largest bast fiber processing and manufacturing unit in Howrah, West Bengal, with a monthly production capacity exceeding 1,000 tons of cottonized fibers and over 60 tons of dry-spun flax yarn. Yajur Fibres specializes in converting long and brittle bast fibers—including flax (linen), jute, and hemp—into cotton-like short staple fibers through advanced cottonization processes.
The company follows a predominantly B2B business model, supplying premium cottonized fibers and yarns to spinning and weaving mills across India and export markets, including Bangladesh, Turkey, Indonesia, and Nepal. These eco-friendly, biodegradable fibers can be mixed with up to 55% cotton and synthetic fibers in regular cotton spinning systems, making them appealing for various uses like clothing, home textiles, insulation, geotextiles, non-woven felts, car parts, and even paper for currency.
Yajur Fibres IPO 2026: Product Portfolio and Market Positioning
Yajur Fibres manufactures and supplies five core product categories: flax yarn, jute yarn, cottonized flax fiber, cottonized jute fiber, and cottonized hemp fiber. The company has positioned itself as a preferred supplier among top spinning mills due to its focus on fiber quality, consistency, and R&D-driven process innovation. The company maintains an active sales and marketing presence through regular domestic and international customer visits, agents in Turkey and Bangladesh, and participation in global textile exhibitions and trade fairs.
Yajur Fibres IPO 2026: Financial Performance Analysis
Yajur Fibres has demonstrated an impressive revenue growth trajectory on a consolidated basis. The company’s total revenue increased from ₹61.84 crores in FY2023 to ₹84.85 crores in FY2024, representing a 37% year-over-year growth. In FY2025, revenue surged to ₹141.99 crores, marking a remarkable 67.34% growth over the previous year.
Profitability metrics show strengthening performance. Profit After Tax (PAT) grew from ₹3.55 crores in FY2023 to ₹4.27 crores in FY2024 and further jumped to ₹11.68 crores in FY2025, representing a 173% increase. PAT margins expanded from 5.74% in FY2023 to 8.23% in FY2025, demonstrating improved operational efficiency.
For the eight-month period ending November 2025 (8M-FY2026), the company reported robust performance with PAT margins reaching 10.26%, indicating sustained momentum. The company’s EBITDA increased from ₹12.31 crores in FY2023 to ₹18.85 crores in FY2025, reflecting strong operational cash generation capabilities.
Yajur Fibres IPO 2026: Balance sheets and Return Ratios
The company’s net worth strengthened from ₹26.41 crores in FY2022 to ₹49.44 crores by the end of FY2025, demonstrating capital accumulation and financial stability. Reserves and surplus grew from ₹28.65 crores to ₹40.56 crores during the same period. As of FY2025, total assets stood at ₹140.73 crores with total equity of ₹49.67 crores.
The company’s profitability ratios show promising trends. Return on Equity (ROE) stands at 15%, while Return on Assets (ROA) is 12%, and EBITDA margin reaches 18%, showcasing efficient asset utilization and healthy profitability. Return on Capital Employed (RoCE) improved from 8.17% in FY2023 to 17.14% in FY2025, though it moderated to 9.64% in the eight-month period of FY2026.
Yajur Fibres IPO 2026: Areas of Concern
While the financial performance appears strong, investors should note that operating cash flows turned negative at ₹25.38 crores in FY2025 compared to positive ₹10.74 crores in FY2024. This significant reversal warrants careful evaluation, as it may indicate working capital pressures or aggressive revenue booking. Additionally, debtor days improved from 25 days to 18.7 days, though there are indications that the company might be capitalizing interest costs.
Yajur Fibres IPO 2026: Grey Market Premium (GMP) Analysis
The grey market premium serves as an unofficial indicator of investor sentiment and potential listing gains. GMP represents the premium investors are willing to pay over the issue price before official listing. However, the latest available information does not definitively disclose specific GMP figures for the Yajur Fibres IPO through grey market channels. Investors should note that GMP is not a guaranteed return metric and can fluctuate rapidly based on market conditions, subscription levels, and broader market sentiment.
The grey market premium can turn positive or negative depending on demand-supply dynamics. A positive GMP suggests shares may list at a premium, while a negative GMP indicates potential listing at a discount. Investors are advised not to subscribe solely based on GMP figures, as these are unofficial and subject to manipulation.
Yajur Fibres IPO 2026: Promoter Background and Management
The promoters of Yajur Fibres include Ashish Kankaria, Shruti A. Kankaria, Ambica Capital Markets Limited, and Gold View Financial Services Limited. Mr. Ashish Kankaria (43 years) serves as the Managing Director and holds a postgraduate diploma in management from S.P. Jain Institute of Management & Research. He brings over 10 years of experience in the manufacturing and distribution of jute and jute fibers, having previously served in production and management roles at Yajur Bast Fibres Limited. He is also a director on the board of the Indian Jute Mills Association, indicating strong industry connections.
Mrs. Shruti A. Kankaria (44 years) is a promoter and non-executive director with a bachelor’s degree in arts from the University of Delhi and over 6 years of experience in management and general administration. As of November 30, 2025, the company employs 409 people on its payroll.
Yajur Fibres IPO 2026: Book Running Lead Manager and Registrar
Horizon Management Pvt Ltd serves as the Book Running Lead Manager for the Yajur Fibres IPO, responsible for managing the issue process and ensuring regulatory compliance. MAS Services Limited has been appointed as the Registrar to the Issue, handling application processing, allotment, refunds, and investor communication.
Yajur Fibres IPO 2026: Industry Outlook and Growth Potential
The sustainable textile industry in India is experiencing robust growth driven by increasing global demand for eco-friendly and biodegradable fibers. The bast fiber segment, particularly cottonized flax, jute, and hemp, is gaining traction as brands and manufacturers shift toward circular economy practices and reduced environmental footprints. Yajur Fibres is well-positioned to capitalize on this trend given its established manufacturing capabilities and market presence across key export destinations.
The company’s emphasis on R&D and process innovation provides a competitive advantage in maintaining fiber quality and consistency. The planned capacity expansion of up to 4 tons per day will enable the company to meet growing demand from both domestic and international spinning mills. With agents in strategic markets like Turkey and Bangladesh and participation in global textile exhibitions, the company has built a robust distribution network.
Yajur Fibres IPO 2026: Valuation and Investment Considerations
At the upper price band of ₹174 per share, the company is raising ₹120.41 crores for a post-issue equity base. Investors should evaluate the valuation against the company’s FY2025 PAT of ₹11.68 crores, resulting in a price-to-earnings ratio that warrants comparison with listed peers in the textile and sustainable fiber manufacturing sectors.
The IPO’s entirely fresh issue structure means existing shareholders are not diluting their stakes, which could signal promoter confidence in future growth prospects. However, it also means there is no immediate liquidity for early investors through an offer-for-sale component.
Yajur Fibres IPO 2026: Risk Factors to Consider
Potential investors should carefully evaluate several risk factors. The company operates in a niche segment with limited comparable listed companies, making peer benchmarking challenging. The negative operating cash flow in FY2025 raises questions about the sustainability of the growth trajectory and working capital management. Export dependence on markets like Bangladesh, Turkey, and Indonesia exposes the company to currency fluctuation risks and geopolitical uncertainties.
Raw material price volatility for bast fibers could impact margins, while the company faces competition from both domestic and international players in the sustainable textile space. Additionally, as a BSE SME listing, the stock may experience lower liquidity and higher volatility compared to mainboard listings.
Yajur Fibres IPO 2026: Should You Invest in the Yajur Fibres IPO?
The investment decision depends on individual risk appetite and investment horizon. Long-term investors seeking exposure to the growing sustainable textile sector with faith in the management’s execution capabilities may find this opportunity attractive, given the strong revenue growth, improving profitability margins, and capacity expansion plans.
Conservative investors might want to wait for the listing and observe the stock’s price behavior, subscription data, and GMP trends before making an entry. The negative operating cash flow and SME platform listing add layers of risk that cautious investors should weigh carefully.
Short-term traders focused on listing gains should closely monitor the grey market premium in the days leading up to subscription closure and assess overall market sentiment toward SME IPOs. However, relying solely on GMP for investment decisions is not advisable.
The company’s association with The Kankaria Group, established manufacturing infrastructure, growing order book from domestic and international clients, and focus on sustainable products provide fundamental strength. However, investors must conduct thorough due diligence by reviewing the Red Herring Prospectus (RHP) and consulting financial advisors before making investment commitments.
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Yajur Fibres IPO 2026: How to Apply for Yajur Fibres IPO
Investors can apply for the Yajur Fibres IPO through their demat account providers, including banks, brokers, and online trading platforms. The application process requires a demat account, PAN card, and bank account linked with UPI for payment. Retail investors should bid in multiples of the lot size (800 shares) and ensure their UPI mandate is confirmed before 5:00 PM on January 9, 2026.
Applications can be submitted through net banking, mobile banking apps, broker platforms, or the ASBA (Application Supported by Blocked Amount) facility. Investors must carefully read the offer document and understand the terms and conditions before submitting their applications.
This comprehensive analysis of the Yajur Fibres IPO provides investors with detailed insights into the company’s business model, financial performance, industry positioning, and investment considerations. The final decision should align with individual financial goals, risk tolerance, and the market outlook for the sustainable textile manufacturing sector in 2026.
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