January often starts slowly as investors return from year-end holidays and assess broader market direction before committing fresh capital. While the pipeline for large IPOs later in the quarter remains healthy, companies appear in no rush to test sentiment in the opening days of the year.
That said, the SME segment continues to stay active, with three companies opening issues between January 6 and January 9, spanning infrastructure materials, electric mobility and sustainable textiles. There is only one listing scheduled next week from Modern Diagnostic.
Gabion Technologies India IPO
Gabion Technologies India will be the first IPO to open in the new year, with its issue opening on January 6 and closing on January 8. The company plans to raise about Rs 29 crore, entirely through a fresh issue, and will list on the BSE SME platform.
Gabion Technologies operates in a niche but essential segment of infrastructure development, supplying steel gabions, rockfall protection systems and geosynthetic products used in roads, railways, irrigation, mining and defence projects. The company has executed projects across multiple sectors, including highways and railways, and works closely with government agencies and contractors.The proceeds from the IPO will largely be used to meet working capital needs, reflecting the execution-heavy nature of its business. While revenue growth has been relatively stable, margins remain sensitive to raw material costs and project timelines, making execution a key factor to track post listing.
Victory Electric Vehicles International
Victory Electric Vehicles will open its issue a day later, on January 7, with subscriptions closing on January 9. The company is raising around Rs 35 crore through a fixed-price SME IPO and will list on the NSE SME platform.
The company is focused on electric two-wheelers and three-wheelers, with a strong presence in e-rickshaws and electric cargo vehicles. Victory Electric Vehicles operates across multiple states through a dealer-led distribution model and caters to both commercial and last-mile mobility demand.
IPO proceeds are expected to be used for capital expenditure and working capital, supporting expansion and product development. While the electric mobility space remains crowded, demand for low-cost commercial EVs continues to grow, especially in smaller cities and logistics-driven use cases. Investors, however, are expected to closely watch competitive pressures and pricing discipline in the sector.
Yajur Fibres IPO
The largest IPO of the week will come from Yajur Fibres, which opens on January 7 and closes on January 9, aiming to raise about Rs 120 crore. The issue will be listed on the BSE SME platform.
Yajur Fibres is a long-established player in the processing of bast fibres such as flax, jute and hemp. The company specialises in cottonising natural fibres, making them suitable for blending with cotton and man-made yarns. Its products are supplied to spinning and weaving mills in India and overseas.
A significant portion of the IPO proceeds will be deployed towards capacity expansion, setting up new processing facilities and funding working capital. The company also plans investments through its subsidiary to expand into linen yarn manufacturing. While sustainability-focused textiles are gaining traction globally, the business remains capital-intensive, and returns will depend on utilisation levels and export demand.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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