United Cotfab IPO day 1: Issue booked nearly 3 times, check subscription status, price band and listing date

United Cotfab Limited IPO was subscribed 2.95 times on the first day of bidding on Thursday, June 13. The BSE SME issue received bids for over 1.45 crore shares compared to 49.24 lakh shares on offer, according to the BSE data.

The retail category in the United Cotfab IPO saw the highest demand as the segment received bids for 1.12 crore shares against 24.62 lakh shares on offer. The retail portion was booked 4.58 times.

In the non-institutional investor (NIIs) segment the public issue was subscribed 65% with applications for 16.02 lakh shares against 24.62 lakh shares reserved for the category.

The BSE SME IPO received bids for 16.46 lakh shares from the qualified institutional buyers (QIBs).

United Cotfab IPO is a fixed price issue worth ₹36.29 crore. The public issue comprises an entirely fresh issue of 51.84 lakh shares.

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United Cotfab IPO price, lot size and minimum investment

United Cotfab IPO price has been fixed at ₹70 per share. Retail investors can apply for at least a single lot size of 2,000 shares, which translates to a minimum investment of ₹1,40,000. The high net-worth individuals (HNIs) can bid for a minimum lot size of 2 lots comprising 4,000 shares, aggregating to an investment of ₹2,80,000.

The registrar for United Cotfab IPO is Purva Sharegistry India Pvt Ltd and Beeline Capital Advisors Pvt Ltd is the book running lead manager for the public issue. Spread X Securities is the registrar for the issue.

United Cotfab IPO allotment status and listing date

Investors interested in applying for United Cotfab IPO can place bids for the issue from Thursday, June 13, to Wednesday, June 19. The share allocation status of the public issue will be finalised by Thursday, June 20. Once the share allocation status is finalised, the successful bidders will receive the shares in their Demat accounts on Friday, June 21. Refunds will be initiated for unsuccessful bidders the same day as well.

Shares of United Cotfab are likely to be listed on the BSE SME platform on Monday, June 24.

United Cotfab IPO objectives

United Cotfab will use the money raised via the public issue for meeting working capital requirements, fulfilling general corporate purposes and to meet public issue expenses.

About United Cotfab Limited

United Cotfab Limited is a manufacturer of high-quality open-end yarn. The yarn-maker’s diverse clientele includes textile manufacturers, garment exporters and distributors. The company makes Open End Cotton Yarn and Cotton Yarn. The company’s employee strength stood at 118, as of March 31, 2024.

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