New Delhi, 14 January (H.S.): Yajur Fibres, a processor and manufacturer of flax, jute, and hemp fibres, stunned IPO investors on Wednesday with a disastrous market debut, listing at a 20 percent discount and rapidly hitting the lower circuit amid relentless selling pressure.

The company's shares, issued at ₹174 apiece through its ₹120 crore IPO open for subscription from January 7 to 9, debuted on the BSE SME platform at ₹139.20 on Wednesday morning. Within minutes, heavy profit-taking drove the stock to the lower circuit limit of ₹132.25, inflicting a 23.99 percent loss on investors in the first trading session.

The IPO garnered a tepid overall subscription of 1.33 times, with Qualified Institutional Buyers (QIBs) covering 1.03 times (excluding anchors), Non-Institutional Investors (NIIs) at a meager 0.91 times, and retail portion at 1.51 times.

Proceeds from issuing 69.20 lakh fresh shares of ₹10 face value will fund a new manufacturing shed, machinery purchases, capacity expansion, working capital needs, and general corporate purposes.

Financials disclosed in the SEBI-filed Draft Red Herring Prospectus reveal robust growth: net profit rose from ₹3.55 crore in FY23 to ₹4.27 crore in FY24 and surged to ₹11.68 crore in FY25, reaching ₹7.12 crore by November 30, 2025. Revenue climbed from ₹61.84 crore in FY23 to ₹84.85 crore in FY24 and ₹141.99 crore in FY25, hitting ₹69.99 crore year-to-date.

Debt fluctuated, standing at ₹34.78 crore at FY23-end, easing to ₹26.17 crore in FY24 before ballooning to ₹66.18 crore in FY25 and ₹73.59 crore by November 2025. Reserves and surplus grew steadily from ₹28.65 crore in FY23 to ₹32.91 crore in FY24, ₹33.44 crore in FY25, and ₹40.56 crore year-to-date. EBITDA advanced from ₹6.68 crore in FY23 to ₹8.01 crore in FY24 and ₹18.85 crore in FY25, registering ₹12.31 crore by November 30, 2025.

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Hindusthan Samachar / Jun Sarkar