Yashhtej Industries (India) Ltd IPO

Status: Closed

Overview

IPO date
18 Feb 2026 to 20 Feb 2026
Face value
₹ 10 per share
Price
₹ 110 to ₹110 per share
Issue Size
8,079,600 shares
(aggregating up to ₹ 88.88 Cr)
Allotment Date
23 Feb 2026
Listing at
NSE
Issue type
Fixed Price - SME
Sector
Edible Oil

Objectives of Yashhtej Industries (India) Ltd IPO

Yashhtej Industries (India) Ltd IPO Strategy

About Yashhtej Industries (India) Ltd

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T&C*

Strengths vs Risks of Yashhtej Industries (India) Ltd

Know the pros & cons

Strengths

  • arrowFully automated manufacturing processes.
  • arrowIn-house laboratory for quality check
  • arrowCustomization in DOC offerings.
  • arrowGovernment Incentive Support.
  • arrowForward integration into Edible Soybean Oil Segment.
  • arrowDiversifying Business.

Risks

  • arrowThe company is significantly dependent on the sale of the company's products namely, "Crude Soybean Oil" and "Soybean De-Oiled Cake". The company's aggregate revenue from sale of Crude Soybean Oil and Soybean De-Oiled Cake accounted for approximately 100% of its revenue from operations in the stub period as on September 30, 2025 and in FY 2025 & FY 2024. Further, during FY 2023, 100% of the revenue from operations was from trading of Soybean. Inability to anticipate and adapt to evolving consumer preferences and demand for products or ensure product quality may adversely impact the demand for the company's products and customer loyalty and consequently impact the company's business, results of operations, financial condition and cash flows.
  • arrowThe sale of its products is concentrated in the company's core market of Maharashtra, Karnataka, Tamil Nadu and Madhya Pradesh. Any adverse developments affecting its operations in such region, could have an adverse impact on the company's business, financial condition, results of operations and cash flows.
  • arrowThe company's revenues have been significantly dependent on few customers and the company's inability to maintain such business may have an adverse effect on its results of operations.
  • arrowDuring the stub period as on September 30, 2025 and during the Financial Years 2025, 2024 and 2023, the company's Purchase of Raw material i.e., Soybean accounted to accounted for 89.17%, 92.58%%, 118.69% & 97.75%, of the company's revenue from operations, respectively. Inadequate or interrupted supply and price fluctuation of its raw materials could adversely affect its business, results of operations, cash flow and financial condition.
  • arrowThe company's Purchase of Raw Material i.e., Soybean have been significantly dependent on few suppliers and the company's dependence on all or few suppliers may have an adverse effect on its results of operations.
  • arrowThe Company had negative cash flows from its Operating Activities, Investing Activities & Finance Activities during the three financial years and stub period, details of which are given below. Sustained negative cash flow may adversely affect its business, results of operations, financial condition and growth.
  • arrowThe company's business is dependent on our Broker network. An inability to expand or effectively manage its Distribution/Broker network, or any disruptions in the company's Distribution/Broker network may have an adverse effect on the company's business, results of operations, financial condition and cash flows.
  • arrowThere are outstanding legal proceedings involving the Company, Promoters, Directors, Key Managerial Personnels, Senior Managerial Personnel and Group Companies. Any adverse decision in such proceedings may have a material adverse effect on the company's business, results of operations and financial condition.
  • arrowInstances of delayed compliances, non-compliances and discrepancies in ROC filings may result in penalties and adversely affect its business, financial condition, and reputation.
  • arrowThe company has placed orders in relation to the Capital expenditures [i.e., (a) Setting up of 5 MW Solar Power Plant, (b) Purchase and Installation Machinery w.r.t. to increase in the processing Capacity of the company's existing Crude Soybean Oil Extraction Factory from 300 MT / per day to 450 MT/ per day], which is proposed to be financed from internal sources and/or Borrowing. In the event the vendors are not able to execute the contract in a timely manner, or at all, may result in time and cost over-runs and the company's business, prospects and results of operations may be adversely affected.
  • arrowThe company has not yet placed orders in relation to the Capital expenditures {i.e., (a) Civil, Structural & Infrastructure works for 200 TPD Soya Solvent Refinery Project, (b) Procurement and installation of Plant and Machinery for setting up of 200 TPD Soya Solvent Refinery Plant and 50 TPD Bottling Plant , (c) Design, manufacturing, supply and erection of Boiler for the Refining Plant and Bottling Plant, (d) Purchase and installation of 1200 kWp Three Phase Grid connected rooftop Solar (PV) Power Project, (e) Purchase of Vehicles, (f) Purchase of Warehousing Equipment [Forklift]}, which is proposed to be financed from the Issue proceeds of the IPO. In the event of any delay in placing the orders, or in the event the vendors are not able to execute the contract in a timely manner, or at all, may result in time and cost over-runs and the company's business, prospects and results of operations may be adversely affected. The company's proposed procurement plans are subject to the risk of unanticipated delays in implementation due to factors including delays in erection of the Factory Buildings, Purchase and installation of machinery / vehicles and cost overruns.
  • arrowThe company's future expansion plans relating to the company's manufacturing facilities are subject to the risks of unanticipated delays in implementation and cost overruns.
  • arrowThe Objects of the Issue for which funds are being raised, are based on the company's management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at its discretion, based on the parameters as mentioned in the chapter titles "Objects of the Issue".
  • arrowAny variation in the utilization of the company's Net Proceeds would be subject to certain compliance requirements, including prior Shareholders' approval.
  • arrowThe company may not be able to derive the desired benefits from its product development efforts. Further, failures to develop and launch new products due to unpredictable consumer preferences may have an adverse effect on the company's business, results of operations, financial condition and cash flows.
  • arrowIn the Past there have been delays in filing the ESIC, GST, PF, TDS and PT Returns by the Company:
  • arrowAll of the company's current/proposed manufacturing facility, Registered Office and warehouse are not located on land owned by the company and the company has only leasehold/rental rights. In the event the company loses or are unable to renew such leasehold/rental rights, the company's business, results of operations, financial condition and cash flows may be adversely affected.
  • arrowThe company has certain contingent liabilities that have been disclosed in the Restated Financial Statements, which if they materialize, may adversely affect its business, results of operations, financial condition and cash flows.
  • arrowAny slowdown or interruption to the company's manufacturing operations or under-utilization of its existing or future manufacturing facilities may have an adverse impact on the company's business, results of operations, financial condition and cash flows.
  • arrowThe company requires a number of approvals, NOCs, licenses, registrations and permits in the ordinary course of the company's business. If the company is not able to obtain, renew or maintain the company's statutory and regulatory licenses, registrations and approvals required to operate its business, it may have a material adverse effect on the company's business, results of operations and financial condition.
  • arrowThe Company has applied for registration of certain trademarks in its name. Until such registrations are granted, the Company may not be able to prevent unauthorized use of such trademarks by third parties, which may lead to the dilution of its goodwill.
  • arrowThe Company has not patented its manufacturing process.
  • arrowThe company's manufacturing facility is concentrated in the state of Maharashtra. Any significant social, political, economic or seasonal disruption, natural calamities or civil disruptions in said State could have an adverse effect on the company's business, results of operations, financial condition and cash flows.
  • arrowAn inability to comply with environmental laws and other applicable regulations in relation to the company's manufacturing facility may adversely affect its business, results of operations, financial condition and cash flow.
  • arrowThe company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
  • arrowThe Company has undertaken secured borrowings and thus the inability to comply with repayment and other covenants in the company's financing agreements/arrangements could adversely affect its business, results of operations, financial condition and cash flows.
  • arrowThe Company has borrowings re-payable on demand.
  • arrowA downgrade in the company's credit rating could adversely affect its ability to raise capital in the future.
  • arrowThe company's business is working capital intensive and insufficient cash flows or inability to borrow funds to meet our working capital requirements may materially and adversely affect its business, financial condition and results of operations.
  • arrowThe company's Promoters viz, Baswaraj Madhavrao Barge, Shivling Madhavrao Barge and Suraj Shivraj Barge have provided personal guarantees for loan facilities obtained by our Company and any failure or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their role as a promoter and directors and thereby, impact its business and operations.
  • arrowThe company's insurance coverage may not be adequate, or the company may incur uninsured losses or losses more than its insurance coverage.
  • arrowThe requirements of being a publicly listed company may strain its resources. Further non-compliance of the regulatory requirements applicable to publicly listed companies may lead to suspension of the Company.
  • arrowLack of experience of its Directors and Key Managerial Personnel in managing a Public Listed Company.
  • arrowThe average cost of acquisition of Equity Shares by the company's Promoters could be lower than the Issue price.
  • arrowThe company's Promoters Baswaraj Madhavrao Barge, Shivling Madhavrao Barge and Suraj Shivraj Barge are shareholders/promoters of "Ecoil Industries Private Limited" which is engaged in the line of business similar to that of the Company.
  • arrowThe company's business is subject to seasonality.
  • arrowThe company's business is manpower intensive. The company's business may be adversely affected by work stoppages, increased wage demands by its employees/labour force(workforce), or an increase in minimum wages, and if the company is unable to engage new workforce at commercially attractive terms.
  • arrowThe company depends on the skills and experience of its Promoters/Directors, Key Managerial Personnel, Senior Management Personnels for its business and future growth.
  • arrowThe company operates in a competitive market and any increase in competition may adversely affect its business, results of operations, financial condition and cash flows.
  • arrowAny inability to accurately manage inventory and forecast demand for products may have an adverse effect on the company business, results of operations, financial condition and cash flows.
  • arrowThe company's inability to effectively manage its growth or implement the company's growth strategies may have an adverse effect on the company's business, results of operations, financial condition and cash flows.
  • arrowThe company may not successfully protect its technical know-how, which may result in the loss of the company's competitive advantage.
  • arrowThe company's inability to adopt new technologies to adhere to the company's quality product standards could adversely affect its business, results of operations, financial condition and cash flows.
  • arrowTechnology failures could disrupt the company's operations and adversely affect its business, results of operations, financial condition and cash flows.
  • arrowThe company may be subject to fraud, theft, employee negligence or similar incidents.
  • arrowThe company may requires raising additional equity or debt in the future in order to continue to grow its business, which may not be available on favorable terms or at all.
  • arrowFailures in internal control systems could cause operational errors which may have an adverse effect on the company's reputation, business, results of operations, financial condition and cash flows.
  • arrowIn addition to normal remuneration, other benefits and reimbursement of expenses, some of the company's Directors (including its Promoters) and Key Managerial Personnel may be interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
  • arrowThe Company may not be able to pay dividends in the future.The company's ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements and capital expenditures and the terms of the company'sfinancing arrangements.
  • arrowAfter the completion of the Issue, our Promoters & Promoter Group will continue to collectively hold majority of the shareholding in the Company, which will allow them to influence the outcome of matters requiring shareholder approval.
  • arrowThis Prospectus contains information from an industry report prepared by Infomerics Analytics & Research, commissioned by the company for the purpose of the Issue for an agreed fee.

Yashhtej Industries (India) Ltd Peer Comparison

Understand the company’s industry standing

Yashhtej Industries (India) Ltd
KN Agri Resources Limited
Rama Phosphates Limited
Face Value
10
10
5
Standalone / Consolidated
Standalone
Consolidated
Consolidated
Total Income Rs. Cr.
324.76
1724.85
743.69
EPS-Basis
7.71
14.76
3.86
EPS-Diluted
7.71
14.76
3.86
NAV Per Share
13.08
140.61
104.9
P/E-Basic EPS
14.27
11.52
41.26
P/E-Diluted EPS
---
---
---
RONW(%)
58.86
10.5
3.68
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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The IPO opens on 18 Feb 2026 & closes on 20 Feb 2026.

Yashhtaj Industries (India) Limited was originally incorporated as 'Yashhtej Solvent Private Limited', dated June 16, 2018, issued by the Deputy Registrar of Companies, Central Registration Centre. Subsequently, Company was converted from a private limited to a public limited company on December 06, 2024. Thereafter, the name of Company was changed to 'Yashhtej Industries (India) Limited' , approved by the Central Processing Centre w.e.f. February 12, 2025. Company, based in Latur, Maharashtra, is primarily engaged in the manufacturing and processing of soybean crude oil, along with production of Soybean De-Oiled Cake (DOC). Soybean crude oil, which require further refining before being fit for consumption, is supplied to customers operating in refining segment. DOC, a protein-rich by-product, is widely utilized as animal feed, particularly in the poultry industry. In addition to manufacturing soybean crude oil and its by-product DOC, Company has also entered into the segment of the solar power generation and supply of the same. At the time of the incorporation, the main objects of the Company was to carry on the business of manufacturing and trading of the edible, non-edible oils and de-oiled cakes. The Company commenced the operation in the Factory for production of Soybean Crude Oil and De-Oiled Cake in FY2023-24. It established a 1142 kWp Solar Power Plant for Captive Consumption in FY 2025. Company is planning the fresh issue of 80,79,600 equity shares of Rs 10 each through its initial public offering.

Yashhtej Industries (India) Ltd IPO will close on 20 Feb 2026.

  • Fully automated manufacturing processes.
  • In-house laboratory for quality check
  • Customization in DOC offerings.
  • Government Incentive Support.
  • Forward integration into Edible Soybean Oil Segment.
  • Diversifying Business.

S.No Promoters Name Pre Issue Shares Pre Issue Percentage Post Issue Shares Post Issue Percentage
1 Baswaraj Madhavrao Barge 3750000 25 3750000 16.25
2 Suraj Shivraj Barge 3750000 25 3750000 16.25
3 Shivling Madhavrao Barge 3750000 25 3750000 16.25
4 Shruti Shivling Barge 750000 5 750000 3.25
5 Tejas Baswaraj Barge 450000 3 450000 1.95
6 Yash Baswaraj Barge 750000 5 750000 3.25
7 Manisha Suraj Barge 750000 5 750000 3.25
8 Barge Sarika Dhondiram 750000 5 750000 3.25
9 Jyoti Baswaraj Barge 300000 2 300000 1.3

  • The company is significantly dependent on the sale of the company's products namely, "Crude Soybean Oil" and "Soybean De-Oiled Cake". The company's aggregate revenue from sale of Crude Soybean Oil and Soybean De-Oiled Cake accounted for approximately 100% of its revenue from operations in the stub period as on September 30, 2025 and in FY 2025 & FY 2024. Further, during FY 2023, 100% of the revenue from operations was from trading of Soybean. Inability to anticipate and adapt to evolving consumer preferences and demand for products or ensure product quality may adversely impact the demand for the company's products and customer loyalty and consequently impact the company's business, results of operations, financial condition and cash flows.
  • The sale of its products is concentrated in the company's core market of Maharashtra, Karnataka, Tamil Nadu and Madhya Pradesh. Any adverse developments affecting its operations in such region, could have an adverse impact on the company's business, financial condition, results of operations and cash flows.
  • The company's revenues have been significantly dependent on few customers and the company's inability to maintain such business may have an adverse effect on its results of operations.
  • During the stub period as on September 30, 2025 and during the Financial Years 2025, 2024 and 2023, the company's Purchase of Raw material i.e., Soybean accounted to accounted for 89.17%, 92.58%%, 118.69% & 97.75%, of the company's revenue from operations, respectively. Inadequate or interrupted supply and price fluctuation of its raw materials could adversely affect its business, results of operations, cash flow and financial condition.
  • The company's Purchase of Raw Material i.e., Soybean have been significantly dependent on few suppliers and the company's dependence on all or few suppliers may have an adverse effect on its results of operations.
  • The Company had negative cash flows from its Operating Activities, Investing Activities & Finance Activities during the three financial years and stub period, details of which are given below. Sustained negative cash flow may adversely affect its business, results of operations, financial condition and growth.
  • The company's business is dependent on our Broker network. An inability to expand or effectively manage its Distribution/Broker network, or any disruptions in the company's Distribution/Broker network may have an adverse effect on the company's business, results of operations, financial condition and cash flows.
  • There are outstanding legal proceedings involving the Company, Promoters, Directors, Key Managerial Personnels, Senior Managerial Personnel and Group Companies. Any adverse decision in such proceedings may have a material adverse effect on the company's business, results of operations and financial condition.
  • Instances of delayed compliances, non-compliances and discrepancies in ROC filings may result in penalties and adversely affect its business, financial condition, and reputation.
  • The company has placed orders in relation to the Capital expenditures [i.e., (a) Setting up of 5 MW Solar Power Plant, (b) Purchase and Installation Machinery w.r.t. to increase in the processing Capacity of the company's existing Crude Soybean Oil Extraction Factory from 300 MT / per day to 450 MT/ per day], which is proposed to be financed from internal sources and/or Borrowing. In the event the vendors are not able to execute the contract in a timely manner, or at all, may result in time and cost over-runs and the company's business, prospects and results of operations may be adversely affected.
  • The company has not yet placed orders in relation to the Capital expenditures {i.e., (a) Civil, Structural & Infrastructure works for 200 TPD Soya Solvent Refinery Project, (b) Procurement and installation of Plant and Machinery for setting up of 200 TPD Soya Solvent Refinery Plant and 50 TPD Bottling Plant , (c) Design, manufacturing, supply and erection of Boiler for the Refining Plant and Bottling Plant, (d) Purchase and installation of 1200 kWp Three Phase Grid connected rooftop Solar (PV) Power Project, (e) Purchase of Vehicles, (f) Purchase of Warehousing Equipment [Forklift]}, which is proposed to be financed from the Issue proceeds of the IPO. In the event of any delay in placing the orders, or in the event the vendors are not able to execute the contract in a timely manner, or at all, may result in time and cost over-runs and the company's business, prospects and results of operations may be adversely affected. The company's proposed procurement plans are subject to the risk of unanticipated delays in implementation due to factors including delays in erection of the Factory Buildings, Purchase and installation of machinery / vehicles and cost overruns.
  • The company's future expansion plans relating to the company's manufacturing facilities are subject to the risks of unanticipated delays in implementation and cost overruns.
  • The Objects of the Issue for which funds are being raised, are based on the company's management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at its discretion, based on the parameters as mentioned in the chapter titles "Objects of the Issue".
  • Any variation in the utilization of the company's Net Proceeds would be subject to certain compliance requirements, including prior Shareholders' approval.
  • The company may not be able to derive the desired benefits from its product development efforts. Further, failures to develop and launch new products due to unpredictable consumer preferences may have an adverse effect on the company's business, results of operations, financial condition and cash flows.
  • In the Past there have been delays in filing the ESIC, GST, PF, TDS and PT Returns by the Company:
  • All of the company's current/proposed manufacturing facility, Registered Office and warehouse are not located on land owned by the company and the company has only leasehold/rental rights. In the event the company loses or are unable to renew such leasehold/rental rights, the company's business, results of operations, financial condition and cash flows may be adversely affected.
  • The company has certain contingent liabilities that have been disclosed in the Restated Financial Statements, which if they materialize, may adversely affect its business, results of operations, financial condition and cash flows.
  • Any slowdown or interruption to the company's manufacturing operations or under-utilization of its existing or future manufacturing facilities may have an adverse impact on the company's business, results of operations, financial condition and cash flows.
  • The company requires a number of approvals, NOCs, licenses, registrations and permits in the ordinary course of the company's business. If the company is not able to obtain, renew or maintain the company's statutory and regulatory licenses, registrations and approvals required to operate its business, it may have a material adverse effect on the company's business, results of operations and financial condition.
  • The Company has applied for registration of certain trademarks in its name. Until such registrations are granted, the Company may not be able to prevent unauthorized use of such trademarks by third parties, which may lead to the dilution of its goodwill.
  • The Company has not patented its manufacturing process.
  • The company's manufacturing facility is concentrated in the state of Maharashtra. Any significant social, political, economic or seasonal disruption, natural calamities or civil disruptions in said State could have an adverse effect on the company's business, results of operations, financial condition and cash flows.
  • An inability to comply with environmental laws and other applicable regulations in relation to the company's manufacturing facility may adversely affect its business, results of operations, financial condition and cash flow.
  • The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
  • The Company has undertaken secured borrowings and thus the inability to comply with repayment and other covenants in the company's financing agreements/arrangements could adversely affect its business, results of operations, financial condition and cash flows.
  • The Company has borrowings re-payable on demand.
  • A downgrade in the company's credit rating could adversely affect its ability to raise capital in the future.
  • The company's business is working capital intensive and insufficient cash flows or inability to borrow funds to meet our working capital requirements may materially and adversely affect its business, financial condition and results of operations.
  • The company's Promoters viz, Baswaraj Madhavrao Barge, Shivling Madhavrao Barge and Suraj Shivraj Barge have provided personal guarantees for loan facilities obtained by our Company and any failure or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their role as a promoter and directors and thereby, impact its business and operations.
  • The company's insurance coverage may not be adequate, or the company may incur uninsured losses or losses more than its insurance coverage.
  • The requirements of being a publicly listed company may strain its resources. Further non-compliance of the regulatory requirements applicable to publicly listed companies may lead to suspension of the Company.
  • Lack of experience of its Directors and Key Managerial Personnel in managing a Public Listed Company.
  • The average cost of acquisition of Equity Shares by the company's Promoters could be lower than the Issue price.
  • The company's Promoters Baswaraj Madhavrao Barge, Shivling Madhavrao Barge and Suraj Shivraj Barge are shareholders/promoters of "Ecoil Industries Private Limited" which is engaged in the line of business similar to that of the Company.
  • The company's business is subject to seasonality.
  • The company's business is manpower intensive. The company's business may be adversely affected by work stoppages, increased wage demands by its employees/labour force(workforce), or an increase in minimum wages, and if the company is unable to engage new workforce at commercially attractive terms.
  • The company depends on the skills and experience of its Promoters/Directors, Key Managerial Personnel, Senior Management Personnels for its business and future growth.
  • The company operates in a competitive market and any increase in competition may adversely affect its business, results of operations, financial condition and cash flows.
  • Any inability to accurately manage inventory and forecast demand for products may have an adverse effect on the company business, results of operations, financial condition and cash flows.
  • The company's inability to effectively manage its growth or implement the company's growth strategies may have an adverse effect on the company's business, results of operations, financial condition and cash flows.
  • The company may not successfully protect its technical know-how, which may result in the loss of the company's competitive advantage.
  • The company's inability to adopt new technologies to adhere to the company's quality product standards could adversely affect its business, results of operations, financial condition and cash flows.
  • Technology failures could disrupt the company's operations and adversely affect its business, results of operations, financial condition and cash flows.
  • The company may be subject to fraud, theft, employee negligence or similar incidents.
  • The company may requires raising additional equity or debt in the future in order to continue to grow its business, which may not be available on favorable terms or at all.
  • Failures in internal control systems could cause operational errors which may have an adverse effect on the company's reputation, business, results of operations, financial condition and cash flows.
  • In addition to normal remuneration, other benefits and reimbursement of expenses, some of the company's Directors (including its Promoters) and Key Managerial Personnel may be interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
  • The Company may not be able to pay dividends in the future.The company's ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements and capital expenditures and the terms of the company'sfinancing arrangements.
  • After the completion of the Issue, our Promoters & Promoter Group will continue to collectively hold majority of the shareholding in the Company, which will allow them to influence the outcome of matters requiring shareholder approval.
  • This Prospectus contains information from an industry report prepared by Infomerics Analytics & Research, commissioned by the company for the purpose of the Issue for an agreed fee.

The Issue type of Yashhtej Industries (India) Ltd is Fixed Price - SME.

The minimum application for shares of Yashhtej Industries (India) Ltd is 2400.

The total shares issue of Yashhtej Industries (India) Ltd is 8079600.

Initial public issue of 80,79,600 equity shares of face value of Rs.10.00/- each ("Equity Shares") of Yashhtej Industries (India) Limited (the "Company" or the "Issuer") for cash at a price of Rs. 110 per equity share (including a premium of Rs. 100 per equity share) (the "Issue Price"), aggregating to Rs. 88.88 crores (the "Issue"), of which 4,04,400 equity shares aggregating to Rs. 4.45 crores will be reserved for subscription by market maker (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. issue of 76,75,200 equity shares of face value of Rs.10.00/- each at an issue price of Rs. 110 per equity share aggregating to Rs. 84 43 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 35.01% and 33.26% respectively of the post-issue paid up equity share capital of the company. Price Band: Rs.110 per equity share of face value Rs. 10/- each. The floor price is 11.0 times of the face value of the equity shares. Bids can be made for a minimum of 2400 equity shares and in multiples of 1200 equity shares thereafter.