Yashhtej Industries shares list at 20% discount to IPO price on BSE SME platform

Yashhtej Industries (India) shares made a tepid D-Street debut on the BSE SME platform on Wednesday. The stock listed at Rs 88 apiece, down 20% from the IPO price of Rs 110. The listing was below the GMP expectation, which had hinted at a flat debut. Shares of the company were seen trading at 0% GMP in the unlisted market just ahead of listing.

The Rs 88.88 crore fixed price IPO was entirely a fresh issue of 80,79,600 equity shares and was open for subscription between February 18 and February 20.

The issue was subscribed 1.37 times overall. The retail portion saw relatively healthy interest with 2.35 times subscription, while the non-institutional investor (NII) segment was subscribed only 0.39 times. A total of 4,089 applications were received.

Business profile

Yashhtej Industries is engaged in the manufacturing and processing of soybean crude oil through the solvent extraction process and in the production of soybean de-oiled cake (DOC), a protein-rich by-product used primarily in the animal feed industry.

The company operates in a B2B model, supplying crude oil to refiners and catering to customers engaged in edible oil refining. It has also diversified into solar power generation and supply.

Its competitive strengths include automated manufacturing processes, an in-house quality testing laboratory, customised DOC offerings, government incentive support and forward integration into the edible soybean oil segment.

Financial performance

The company has reported sharp growth in recent years. For the six months ended September 30, 2025, total income stood at Rs 191.22 crore, compared with Rs 324.96 crore for the full FY25. Profit after tax for FY25 was Rs 11.57 crore, up from Rs 1.13 crore in FY24.

The company plans to utilise Rs 63.88 crore towards capital expenditure, Rs 6.11 crore for working capital requirements and Rs 9.50 crore for general corporate purposes.