Yajur Fibres IPO Oversubscribed; Victory Electric IPO Nears Full Book
Overview
Yajur Fibres' Initial Public Offering closed with 1.31 times subscription. Victory Electric Vehicles International's offer was subscribed 97 percent. Share allotment is expected by January 12, with trading commencing on BSE SME and NSE Emerge on January 14.
Yajur Fibres' Initial Public Offering concluded Tuesday, securing a 1.31 times subscription. The West Bengal-based textile manufacturer aimed to raise Rs 120.4 crore through the issue. Separately, Victory Electric Vehicles International's offer achieved 97 percent subscription, falling just short of full booking.
IPO Subscription Details
Yajur Fibres' public issue, open from January 7 to 9, saw investors apply for 90.89 lakh shares against an offering of 69.2 lakh shares. Retail investors showed strong interest, bidding 1.51 times their quota. Qualified institutional buyers and non-institutional investors subscribed 1.03 times and 93 percent, respectively. The company plans to utilize IPO proceeds for expanding manufacturing capacity and setting up a greenfield unit, allocating Rs 11.9 crore for existing unit upgrades and Rs 48 crore for a new facility in Ujjain.
Victory Electric Vehicles International
Victory Electric Vehicles International mobilized Rs 34.56 crore at Rs 41 per share. The company intends to deploy these funds for capital expenditure, working capital, and general corporate expenses. Its offer was subscribed 97 percent, with 81.36 lakh shares taken against an offer size of 84.3 lakh shares.
Listing and Allotment
Both companies are slated to finalize their share allotment by January 12. Trading for Yajur Fibres' shares is expected to commence on the BSE SME platform, while Victory Electric Vehicles International will list on the NSE Emerge, both effectively on January 14.
