United Cotfab IPO opens for subscription: Check price band, key dates and more

United Cotfab IPO (initial public offering) opened for subscription on Thursday, June 13. The 36.29 crore BSE SME IPO, which will close on June 19, is a fixed price issue at ₹70 per share.

The Ahmedabad-based company's public offering is entirely a fresh issue of 51.84 lakh shares. There is no offer-for-sale (OFS) component. The company has set aside 50% of the net issue for retail investors.

The funds generated from the IPO will be allocated to meet working capital requirements and for general corporate purposes.

Beeline Capital Advisors Private Limited is the lead manager for the issue, while Purva Sharegistry (India) Pvt Ltd is the registrar.

United Cotfab IPO: Timeline

• Bidding period: June 13- June 19
• Allotment finalisation: June 20
• Refund initiation: June 21
• Demat transfer: June 21
• Listing: June 24

United Cotfab IPO: Key things to know

• Issue size: ₹36.29 crore
• Issue price: ₹70
• Face value: ₹10
• Number of shares: 51,84,000 shares
• Lot size: 2000 shares
• HNI portion: 24,62,000 shares
• Market maker quota: 2,60,000 shares
• Retail quota: 24,62,000 shares

About United Cotfab Limited

United Cotfab is involved in trading cotton yarn. In April last year, the company started producing open-ended cotton yarn made from cotton fibres. Cotton yarn is widely used for knitting, weaving, and crocheting and is known for its softness and versatility in making clothing, home textiles, and fabric-based products.

The company has a manufacturing facility in Ahmedabad, close to the cotton-rich belts of Gujarat and Maharashtra.

The company's revenue from operations for the financial year grew to ₹115.29 crore, up from ₹442 lakh in the preceding fiscal. The company's net profit jumped to 8.66 crore in FY24 from 13.9 lakh in FY23.

The company's net worth increased by over 36% to ₹13.56 crore for the year ending March 2024, as against ₹9.93 crore in the previous year.

To know more about IPOs listing, schedule and upcoming IPOs, click here