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United Cotfab IPO – GMP, Details & Full Review

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United Cotfab Limited who are manufacturer of high quality open end yarn catering to the textile industry are raising 36.29 crores approximately through Initial Public Offerings (IPO). The IPO will be open from 13th June, 2024 and will close on 19th June, 2024. The IPO Price band is set to ₹70 and a retail investor can do minimum investment of 140,000 for a single lot of 2000 shares.

United Cotfab Limited manufacturing process adheres to stringent quality standards and is backed by advanced technology and machinery. They follow a systematic approach that includes raw material selection, blending, 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. They are also committed to sustainable manufacturing practices and environmental responsibility.

United Cotfab IPO Important Dates And Prices

IPO Opening DateJune 13, 2024
IPO Closing DateJune 19, 2024
IPO Allotment DateJune 20, 2024
Date of Refund InitiationJune 21, 2024
Single Price₹70
Total Shares2000/Lot
Minimum Investment₹140,000
IPO ListingJune 24, 2024
Listing OnBSE SME

United Cotfab IPO Other Important Details

IPO Issue Size₹36.29 Crores
IPO Face Value₹10/Share
IPO Retail Percentage50%
IPO Others Percentage50%
Retail Min. Investment (1 Lot)₹140,000 (2000 Shares)
Retail Max. Investment (1 Lot)₹140,000 (2000 Shares)
HNI Min. Investment (2 Lots)₹280,000 (4000 Shares)
IPO Mandate Last Date19 June, 2024 (Till 5 PM)
IPO RegistrarPurva Sharegistry India Pvt Ltd


United Cotfab IPO GMP (Grey Market Premium)

Day By Day analysis of United Cotfab IPO GMP. IPO Grey Market Premium can increase or decrease depending upon the buyer interests.

DateGMP
As On 08-06-202410

United Cotfab Limited Promoters

  • Mr. Nirmalkumar Mangalchand Mittal (Non-Executive Director)
  • Mr. Gagan Nirmalkumar Mittal (Chairman and Managing Director)

Shareholding Pattern or Promoter Holding in United Cotfab IPO

Equity ShareholdingNo. of SharesPercentage of Shares
Pre Issue12,006,000100.00%
Post Issue17,190,00069.84%

United Cotfab Qualities & Strength

  • Committed to sustainable manufacturing practices & environmental responsibility.
  • Focus on Innovation, Quality, and Customer Satisfaction.
  • Deliver Exceptional Products.
  • Customer Centric Approach.
  • Scalable Business Model.
IncorporationRegistered OfficeWebsiteIPO Doc
August 25, 2015Survey No. 191, Village – Timba,
Taluka-Dascroi, Timba, Ahmedabad,
Dascroi – 382425, Gujarat, India.
www.unitedcotfab.comDRHP PDF

Objectives of the United Cotfab Limited IPO Issue

United Cotfab Company is going to use the funds in:

  • To Meet Working Capital Requirements – The Net Working capital requirements for the FY 2023-24 is estimated to be ₹ 3,063.69 Lakhs and ₹ 4,299.64 Lakhs for FY 2024-25. The Company will meet the requirement to the extent of ₹ 2,456.07 Lakhs from the Net Proceeds of the Issue.
  • General Corporate Purposes.
  • To meet Public Issue Expenses.

In addition, they are expecting that listing will enhance their corporate image and visibility of brand name of Company. They also believe that their company will receive the benefits from listing of Equity Shares on the SME Platform of BSE Limited.

Read More: List of Upcoming SME IPOs


United Cotfab IPO Review (May Apply)

Financials30-Sept-2331-Mar-2331-Mar-2231-Mar-21
EBITDA (₹ in Lakhs)656.551.170.280.11
EBITDA Margin (%)11.76%2.65%
PAT (₹ in Lakhs)295.1813.931.60-0.11
ROE (%)25.74%1.66%0.47%-40.91%
ROCE (%)10.32%0.04%-0.04%-0.11%
RONW (%)22.70%1.40%0.23%-51.43%
  • United Cotfab company has an EBITDA of 656.55 in the last 6 Months.
  • EBITDA Margin % is also 11.76% in last 6 months as compared to 2.65% of previous 12 months.
  • ROE% also increased to 25.74% from 1.66% and ROCE% increased to 10.32% from 0.04%.
  • RONW % is 22.70% from March, 2023 to September, 2023.

After thorough review of United Cotfab Company Financial Stats of Previous Years, Our Review for this IPO is you May Apply For this IPO after checking the first Day Subscription Status. Company stats have increased to a large extent in last 6 Months which creates a little bit of doubt about the stats, if they are correct or not. So If GMP of United Cotfab goes above 50 and Retail Subsctiption Status goes above 5 times on the first day, then apply only to be on the safe side. As ZTech India IPO recently opens at a 9% discount on the listing price.


FAQ’s Related to United Cotfab IPO

  1. From Which Date United Cotfab IPO will open?

    United Cotfab IPO will open from Monday, 10 June, 2024.

  2. On which date United Cotfab IPO is going to List?

    United Cotfab Limited IPO is going to list on Monday, 24 June, 2024.

  3. How many Shares are there in 1 Lot of United Cotfab IPO and what is the price of Single Share?

    There are 2000 Shares in 1 Lot of United Cotfab IPO and price of one is ₹70.

  4. What is the total issue size of United Cotfab IPO?

    United Cotfab IPO total issue size is approximately ₹36.29 Crores (5,184,000 Equity Shares)

  5. What is the percentage of Shares offered to Retail Investors in United Cotfab IPO?

    In United Cotfab IPO, Retail Investors are offered 50% of Total Shares and other Investors are offered remaining 50% Shares.

  6. When Is the United Cotfab Limited Company Incorporated?

    United Cotfab Limited Company incorporated in August 25, 2015.


How You Can Apply For United Cotfab Limited IPO?

  • Before submitting an application for the United Cotfab IPO, you need to open a DEMAT account.
  • Use apps like Groww, Paytm Money, Angel One, Upstox, and Zerodha on your tablet or phone to open a DEMAT account online.
  • After registering for a DEMAT account, open the app and choose the IPO section.
  • Choose the United Confab IPO and click Apply to send in your mandate request.
  • Depending on which option is displayed in your application, enter the number of shares or lot size that you are interested in applying for.
  • Submit your IPO application as soon as you’ve determined on your bid amount. You should submit your application at the maximum price, which is also known as the cutoff price.
  • Select “Continue” after that. You’ll see a new screen asking you to enter your UPI ID. Kindly enter your UPI ID there.
  • Following the submission of an IPO application, you will shortly see a mandate request on your UPI platform. It takes over an hour on rare occasions. As a result, please be patient and don’t worry.
  • After receiving a mandate, click Accept Mandate in the UPI App. Next, enter the mandate amount and your UPI Pin before hitting Enter.
  • Once the mandate has been approved, the Bank will retain the IPO Amount until the day that refunds start.
  • Money will be permanently withdrawn from your bank account on Thursday, June 20, 2024, if you are allotted shares for the United Cotfab IPO.

Will you submit an application for the IPO of United Cotfab Limited? Please feel free to express your ideas in the space provided below. Other users can gain from your comments as well. Keep Reading & Keep Investing !!

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