United Cotfab Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | June 13, 2024 to June 19, 2024 |
| Listing Date | [.] |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 70 per share |
| Lot Size | 2,000 Shares |
| Total Issue Size | 51,84,000 shares (aggregating up to ₹ 36.29 Cr) |
| Fresh Issue | 51,84,000 shares (aggregating up to ₹ 36.29 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 1,20,06,000 |
| Share holding post issue | 1,71,90,000 |
About United Cotfab Limited IPO
United Cotfab is engaged in the manufacturing of high-quality open-end yarn catering to the textile industry. Their manufacturing process adheres to stringent quality standards and is backed by advanced technology and machinery. They follow a systematic approach, including raw material selection, blending (if required), spinning, winding and quality control. They have implemented a comprehensive quality management system that covers every stage of production. They conduct rigorous testing and inspection of raw materials, intermediate products, and final yarns to ensure they meet the specified standards. 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 be listed on BSE SME with a tentative listing date fixed as Monday, June 24, 2024. United Cotfab's IPO price is ₹70 per share. The minimum lot size for an application is 2000 Shares. 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.
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net issue |
| Other Shares Offered | 50% of the Net issue |
Company & Financials
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 comprises 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. During the Financial Year 2020-23, Company was in the process acquisition of land admeasuring area of 7264 sq mtrs located at Village Timba, Taluka Daskroi, Ahmedabad, for setting up a Manufacturing facility having an installed capacity of approx 9125 (MT) per annum. Their Manufacturing facility is close to the rich cotton-growing areas of Saurashtra region of Gujarat and Maharashtra. The Company commenced the production of cotton yarn in April 2023.
Objectives of United Cotfab IPO
The Issue Proceeds from the Fresh Issue will be utilized towards the following objectives:
- 1. To Meet Working Capital Requirements
- 2. General Corporate Purposes
- 3. To meet Public Issue Expenses
United Cotfab IPO Review
The company which was primarily a fabric trader 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 raised eyebrows and concern over its sustainability, being a highly competitive and fragmented segment. Based on FY24 super earnings, the issue appears to be fully priced. Well-informed/cash surplus investors may park moderate funds for the long term.
United Cotfab Limited IPO Financial Information
Latest Revenue
5,596.72
₹ Crore
Profit After Tax
295.18
₹ Crore
Net Worth
1,300.34
₹ Crore
Total Borrowing
4,262.11
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 7,470.82 | 5,596.72 | 295.18 | 1,300.34 | 4,262.11 | ||||
| 31 Mar 2023 | 5,367.71 | 64.02 | 13.93 | 993.56 | 3,821.18 | ||||
| 31 Mar 2022 | 1,559.95 | 1.88 | 1.60 | 681.97 | 773.47 | ||||
| 31 Mar 2021 | 107.10 | — | -0.11 | 0.22 | 106.50 | ||||
| Amount in ₹ Crore | |||||||||
United Cotfab Limited Key Performance Indicator
| KPI | Values |
|---|---|
| - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 0.12 | 3.43 |
| P/E (x) | 603.32 | 20.38 |
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Competitive Strengths
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United Cotfab Limited IPO Timeline
| 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4000 | ₹280,000 |