United Cotfab IPO is a fixed price issue of Rs 36.29 crores. The issue is entirely a fresh issue of 51.84 lakh shares.
United Cotfab IPO opens for subscription on June 13, 2024 and closes on June 19, 2024. The allotment for the United Cotfab IPO is expected to be finalized on Thursday, June 20, 2024. United Cotfab IPO will list on BSE SME with tentative listing date fixed as Monday, June 24, 2024.
United Cotfab IPO price is ₹70 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹140,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹280,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the United Cotfab IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market maker for United Cotfab IPO is Spread X Securities.
Refer to United Cotfab IPO RHP for detailed information.
United Cotfab IPO Details
| IPO Date | June 13, 2024 to June 19, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 5,184,000 shares (aggregating up to ₹36.29 Cr) |
| Fresh Issue | 5,184,000 shares (aggregating up to ₹36.29 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 12,006,000 |
| Share holding post issue | 17,190,000 |
| Market Maker portion | 260,000 shares Spread X Securities |
United Cotfab IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net issue |
| Other Shares Offered | 50% of the Net issue |
United Cotfab IPO Timeline (Tentative Schedule)
United Cotfab IPO opens on June 13, 2024, and closes on June 19, 2024.
| IPO Open Date | Thursday, June 13, 2024 |
| IPO Close Date | Wednesday, June 19, 2024 |
| Basis of Allotment | Thursday, June 20, 2024 |
| Initiation of Refunds | Friday, June 21, 2024 |
| Credit of Shares to Demat | Friday, June 21, 2024 |
| Listing Date | Monday, June 24, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 19, 2024 |
United Cotfab IPO Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4,000 | ₹280,000 |
| Lot Size Calculator | |||
United Cotfab IPO Promoter Holding
The Promoters of the company are Mr. Nirmalkumar Mangalchand Mittal and Mr. Gagan Nirmalkumar Mittal.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 69.84% |
About United Cotfab Limited
Incorporated in 2015, United Cotfab Limited manufactures high-quality open-end yarn for the textile industry. The company’s clients include textile manufacturers, garment exporters and distributors.
The company’s product portfolio includes Open End Cotton Yarn and Cotton Yarn
The company’s manufacturing process adheres to stringent quality standards and is backed by advanced technology and machinery.
The manufacturing facility of the Company is situated in Taluka, Ahmedabad. The Manufacturing facility of the company has an installed capacity of approx 9125 (MT) per annum
As of March 31, 2024, the company has 118 Employees.
United Cotfab Limited Financial Information (Restated)
United Cotfab Limited’s revenue increased by 17945.52% and profit after tax (PAT) rose by 6121.46% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 8,168.46 | 5,367.71 | 1,559.95 | 107.10 |
| Revenue | 11,552.74 | 64.02 | 1.88 | |
| Profit After Tax | 866.65 | 13.93 | 1.60 | -0.11 |
| Net Worth | 1,356.42 | 993.56 | 681.97 | 0.22 |
| Reserves and Surplus | 188.10 | |||
| Total Borrowing | 4,750.93 | 3,821.18 | 773.47 | 106.50 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of United Cotfab IPO is Rs 120.33 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 72.76% |
| ROCE | 26.95% |
| Debt/Equity | 3.42 |
| RoNW | 63.89% |
| P/BV | 6.19 |
| PAT Margin (%) | 7.52 |
Check United Cotfab IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 7.22 | 5.04 |
| P/E (x) | 9.7 | 13.88 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.
Objects of the Issue (United Cotfab IPO Objectives)
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
- To Meet Working Capital Requirements
- General Corporate Purposes
- To meet Public Issue Expenses
United Cotfab IPO Review (May apply)
[Dilip Davda] The company that was primarily a trader in fabrics went on stream for manufacturing cotton yarn in April 2023, and thus has just one full year performance. The year marked boosted top and bottom lines that not only raise eyebrows, but also concern over its sustainability, being a highly competitive and fragmented segment. Based on FY24 super earnings, the issue appears fully priced. Well-informed/cash surplus investors may park moderate funds for the long term. Read detail review…
United Cotfab IPO Prospectus
United Cotfab Limited Contact Details
United Cotfab Limited
Survey No. 191, Village-Timba,
Taluka-Dascroi, Timba
Ahmedabad, Dascroi -382425
Phone: +91 987987 4955
Email: info@unitedcotfab.com
Website: https://www.unitedcotfab.com/
United Cotfab IPO Registrar
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query