June 24, 2024
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United Cotfab IPO GMP Guidance & Subscription Status at Chanakyanipothi.com,
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United Cotfab IPO Listing review
On 24 June 2024, the scrip is listed at Rs. 75, 7.14% over the issue price. Profit booking may be done.
What was the last GMP of United Cotfab IPO? *
GMP Rs. 13
Subject to Rs. 19800
Check Subscription status of United Cotfab IPO
On 19 June 2024 @ 5.30 (Day 3) (Closed)
Review: Overall, Weak response
NII: 114.71 T
RII: 77.22 T
Total: 107.16 T
Application: 1,14,473 (92.99X)
Amount wise Subscription: Rs. 3693.81 Crore
What is the business of United Cotfab?
Till March 2023, the company was engaged in the business of trading of cotton yarn. In April 2023, the Company commenced the manufacturing of open-ended cotton yarn.
United Cotfab is engaged in the manufacturing of high-quality open-end yarn catering to the textile industry. Its manufacturing process adheres to stringent quality standards and is backed by advanced technology and machinery. It follows a systematic approach that includes raw material selection, blending (if required), spinning, winding, and quality control.
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 Manufacturing facility having an installed capacity of approx 9125 (MT) per annum. Its 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. Its Manufacturing facility is equipped with modern and automatic plant and machinery.
Get more information about the company @ https://www.unitedcotfab.com/
| United Cotfab IPO Details | |
| IPO opens on | 13 June 2024 |
| IPO closes on | 19 June 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 5184000 Shares / Rs 36.29 Crore |
| * Fresh Issue | 5184000 Shares / Rs 36.29 Crore |
| * Offer for Sale | – Shares / Rs – Crore |
| Market Maker Portion | – Shares |
| Net offer to Public | 5184000 Shares / Rs 36.29 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs.70 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 2000 Shares |
| Listing will at | BSE SME |
| Shares offered in United Cotfab IPO | ||
| Shares | Rs. (Crore) | |
| QIB (0%) | – | – |
| NII (50%) | 2592000 | 18.15 |
| RII (50%) | 2592000 | 18.14 |
| Total Shares | 5184000 | 36.29 |
| Retail portion will be oversubscribed by | 1296 | |
| Forms | ||
| How much Shares to Apply in United Cotfab IPO? | ||
| Min Retail Application | 2000 Shares | Rs. 140000 |
| Min HNI Application | 4000 Shares | Rs.280000 |
Who are the Promoters of United Cotfab IPO?
The Promoters of the company are Mr. Nirmalkumar Mangalchand Mittal and Mr. Gagan Nirmalkumar Mittal
What are the Objects of United Cotfab IPO?
The Offer comprises of a Fresh Issue of Equity shares
The company intends to utilize the proceeds of the Offer to meet the following objects: –
To Meet Working Capital Requirements
General Corporate Purposes
To meet Public Issue Expenses
| United Cotfab IPO Tentative timetable | |
| IPO opens on | 13 June 2024 |
| IPO Closes on | 19 June 2024 |
| IPO Allotment on | 20 June 2024 |
| Refund Initiation | 21 June 2024 |
| Credit of Shares | 21 June 2024 |
| Listing on | 24 June 2024 |
| Registered Office of the Company United Cotfab Limited Survey No. 191, Village-Timba, Taluka-Dascroi, Timba Ahmedabad, Dascroi -382425 |
| Who is the Lead Manager of United Cotfab IPO? Beeline Capital Advisors Pvt Ltd |
| Who is the Registrar to IPO? Purva Sharegistry India Pvt Ltd |
| United Cotfab IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| (reworked after Bonus & split) | Rs.in Cr | Rs.in Crore | Rs. | % |
| 2020-21 | – | -0.11 | 0.00 | -51 |
| 2021-22 | 0.02 | 0.02 | 0.02 | 0.23 |
| 2022-23 | 0.64 | 0.14 | 0.14 | 1.40 |
| Book Value of the Share on (reworked after Bonus & split) | 31.12.2023 | Rs 9.65 | ||
| BV of the Share at cap price | after the IPO | Rs. | ||
| Offer Price/upper band | Rs. 70 | |||
| United Cotfab IPO Key Performance indicators |
|
| Price/last EPS of 22-23 | 500 |
| Price/BV Ratio | 7.25 |
| Upper price/BV after IPO | – |
How United Cotfab IPO compares with the Peers?
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| United Cotfab | 10 | 0.44 | 500 |
| Lagnam Spintex | 10 | 304.65 | 9 |
| PBM Polytex | 10 | 202.00 | 209 |
| Vippy Spinpro | 10 | 156.00 | 9 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
United Cotfab IPO To the point Guidance
Till March 2023, the company was engaged in the business of trading of cotton yarn. In April 2023, the Company commenced the manufacturing of open-ended cotton yarn. United Cotfab is engaged in the manufacturing of high-quality open-end yarn catering to the textile industry.
Size: The net offer is of Rs. 36.29 Crore/5184000 shares. Retail portion is Rs. 18.14 crore and it can get one time subscribed with 1296 applications. The size of the IPO is not very large, looking to the investor frenzy and one time over subscription may not be an issue.
Financial Snapshot: In April 2023, the Company commenced the manufacturing of open-ended cotton yarn. The IPO is ahead of full-fledged one year operations. Not so attractive.
Quicklinks
United Cotfab IPO GMP today details
United Cotfab IPO
United Cotfab IPO FAQs
What is United Cotfab IPO?
United Cotfab IPO is a SME IPO of 5184000 equity shares of the face value of Rs. 10 aggregating up to Rs.36.29 Crores. The issue is priced at Rs.70 per share. The minimum order quantity is 2000 Shares.
When will United Cotfab IPO open?
United Cotfab IPO opens on June 13, 2024, and closes on June 19, 2024.
What is the lot size of United Cotfab IPO?
United Cotfab IPO lot size is 2000 Shares, and the minimum amount required is Rs.140000.
How to apply for United Cotfab IPO?
You can apply in United Cotfab IPO IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
When is United Cotfab IPO allotment?
The finalization of Basis of Allotment for United Cotfab IPO IPO will be done on 20 June, 2024, and the allotted shares will be credited to your demat account by June 21, 2024.
When is United Cotfab IPO listing date?
United Cotfab IPO listing date is June 24, 2024.
