United Cotfab was incorporated on August 25, 2015. The company is engaged in the manufacturing of high-quality open-end yarn catering to the textile industry. It follows a systematic approach that includes raw material selection, blending (if required), spinning, winding, and quality control.
| Bidding Dates |
|---|
| 13 Jun 2024 - 19 Jun 2024 |
| Subscription |
|---|
| 101.84x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,40,000 | 1 | 1 | 2000 | 5.2 M | ₹70 | 69.84 % | ₹362.9 M | RHP DOC |
United Cotfab IPO SUBSCRIPTION STATUS
19 Jun '24United Cotfab IPO overall subscription rate was 101.84 times the total available shares
United Cotfab IPO retail subscription rate was 73.35 times in the retail segment
United Cotfab IPO non-institutional investor subscription rate was 130.33 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
19 Jun 2024 (Day 4) | 73.35x | 130.33x | - |
18 Jun 2024 (Day 3) | 30.43x | 14.61x | - |
14 Jun 2024 (Day 2) | 12.26x | 4.33x | - |
13 Jun 2024 (Day 1) | 4.36x | 1.25x | - |
United Cotfab FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 86.7 | 1,152.9 | 74.8 | -16.5 | 15.3% |
| FY23 | 1.4 | 4.4 | -23.3 | -367.3 | 2.7% |
| FY22 | 0.2 | 0.0 | -68.8 | -104.8 | - |
United Cotfab IPO SUBSCRIPTION STATUS DETAILS
United Cotfab had 5.2 M shares on offer
United Cotfab IPO offer price was ₹70
United Cotfab IPO minimum Investment was ₹140000
United Cotfab IPO issue size was ₹ 362.9 M
United Cotfab had a minimum lot size of 2000 Shares per application
United Cotfab NUMBER OF SHARES ON OFFER
United Cotfab IPO IMPORTANT DATES
| Issue Open Date | 13 Jun 2024 |
| Issue close Date | 19 Jun 2024 |
| Allotment Date | 20 Jun 2024 |
| Refund Date | 21 Jun 2024 |
| Demat Account Credit Date | 21 Jun 2024 |
| Listing Date | 24 Jun 2024 |
| Listing on Exchange(s) | BSE |
| United Cotfab Allotment Status | Exchange |
United Cotfab IPO subscription opened on 13 Jun 2024, and closed on 19 Jun 2024
IPO allotment for United Cotfab was finalized on Thursday, 20 Jun 2024
IPO listing for United Cotfab was on BSE on Monday, 24 Jun 2024
United Cotfab IPO LISTING GAINS
| Issue Price (adjusted) | 70.0 |
| Listing Open Price | 75.0 |
| Listing Close Price | 78.8 |
| Listing Gain% | 7.1% |
| Current Gain% | -79.7% |
United Cotfab Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United Cotfab Ltd. | 14.2 | 24.4 | 6.5 | 0.2 | 0.2 | 6.9 | 2.8 | 159.5 | 26.7 | 3.7 | 36 | 2.2 | 36 |
| KPR Mill Ltd. | 1096.5 | 37479.9 | 41.1 | 3.9 | 5.5 | 15.2 | 12.7 | 6784.3 | 5 | 866.5 | 6.3 | 26.7 | 10.7 |
| Vardhman Textiles Ltd. | 596 | 17252.8 | 20.3 | -43 | 1.7 | 7.1 | 5.4 | 10092.5 | -0.3 | 745.2 | -15.6 | 29.3 | -0.5 |
| Arvind Ltd. | 567.6 | 15442.4 | 37.3 | 2.2 | 1.7 | 10.2 | 4.7 | 9359.5 | 11.5 | 413.9 | 17.1 | 15.2 | 17.1 |
| Welspun Living Ltd. | 159.7 | 15313.8 | 74.9 | -1.1 | 1.6 | 4.2 | 2 | 9467.9 | -11.5 | 204.4 | -68 | 2.1 | -68 |
| Trident Ltd. | 24.8 | 12653.3 | 32 | -3.4 | 1.9 | 7.9 | 5 | 6775.2 | -3.9 | 377.1 | 2 | 0.8 | -9.4 |
United Cotfab INFORMATION ON IPO ISSUE
About United Cotfab
United Cotfab was incorporated on August 25, 2015. The company is engaged in the manufacturing of high-quality open-end yarn catering to the textile industry. It follows a systematic approach that includes raw material selection, blending (if required), spinning, winding, and quality control.
Object of the Issue
- To meet working capital requirements
- General corporate purposes
United Cotfab - PROMOTERS
| Name |
|---|
| Nirmalkumar Mangalchand Mittal |
| Gagan Nirmalkumar Mittal |
United Cotfab Lead Manager to the Issue
Beeline Capital Advisors Private Limited
mb@beelinemb.com
United Cotfab Registrar to the issue
Purva Share Registry India Private Limited
support@purvashare.com
United Cotfab Strengths
Location advantage
The manufacturing facility of the company is situated in close proximity to the cotton-rich belt of Gujarat and Maharashtra. All infrastructure facilities, such as the availability of skilled labor, raw materials, technology, communication, transportation, etc., are easily accessible due to extensive industrialization in the area
Scalable business model
The company focuses on maximizing capacity utilization, developing linkages with quality raw material suppliers, and achieving consequent economies of scale
United Cotfab Risks
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, its promoters, directors, and group companies. Any adverse decision in such proceedings may have a material adverse effect on the business
Limited operating history
The company has a very limited operating history in manufacturing operations, which may make it difficult for investors to evaluate its historical performance or future prospects
IPO FAQs
The promoters of the company are Nirmalkumar Mangalchand Mittal and Gagan Nirmalkumar Mittal.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 70.0 - 70.0.
The IPO application opens on Jun 13, 2024 and closes on Jun 19, 2024.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 140,000.0, the maximum value for this IPO is Rs 140,000.0.
This IPO will be allotted on Jun 20, 2024.
The refund will be credited to your account on Jun 21, 2024.
The allotted shares will be credited to your demat on Jun 21, 2024.
United Cotfab Ltd.’s shares listed on the stock exchanges on Jun 24, 2024.