United Cotfab’s initial public offering (IPO) will open for subscription on Thursday (June 13, 2024) and close on Wednesday (June 19, 2024).
This BSE SME IPO aims to raise Rs 36.29 crores. The price band is set at Rs 70 per share, with a minimum lot size of 2000 shares.
The United Cotfab IPO timeline includes several important dates and they are:
– The finalization of the basis of allotment is scheduled for 20 June, 2024.
– The initiation of refunds to investors will take place on 21 June, 2024.
– Finally, the IPO listing date is set for 24 June, 2024, when the shares will start trading on the stock exchange.
Beeline Capital Advisors Pvt Ltd is the lead manager for the United Cotfab IPO, with Purva Sharegistry India Pvt Ltd acting as the registrar for the issue.
About United Cotfab IPO
United Cotfab specializes in producing high-quality open-end yarn for the textile industry. Their manufacturing process follows strict quality standards and utilizes advanced technology and machinery.
The process includes carefully selecting raw materials, blending when necessary, spinning, winding, and thorough quality control.
Currently, the company is acquiring 7264 sq meters of land in Ahmedabad to build a manufacturing facility with an annual capacity of around 9125 metric tons.
This facility will be located near the cotton-rich areas of the Saurashtra region in Gujarat and Maharashtra. The company has strong relationships with various clients, including textile manufacturers, garment exporters, and distributors.
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According to IPO Central, United Cotfab has shown significant growth in its financial performance over the past three years. In FY 2022, the company had no revenue and expenses of Rs 0.28 lakh.
By FY 2023, revenue increased to Rs 44.20 lakh with expenses at Rs 43.03 lakh. The most notable growth occurred in FY 2024, with revenue reaching Rs 11,529.41 lakh and expenses at Rs 10,350.59 lakh. Net income also saw substantial improvement, rising from Rs 1.60 lakh in FY 2022 to Rs 866.65 lakh in FY 2024.
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Disclaimer: The above content is for informational purposes only. Please consult a SEBI-registered investment advisor before making any investment decision.
