Ahmedabad based United Cotfab Limited Initial Public Offer to open on 13th June 2024. The company is aiming to raise Rs 36.29 Crore at an Issue Price of Rs.70/- per share having face value of each share is Rs. 10, set to be listed on the BSE SME platform. IPO Closing date is 19th June 2024. United Cotfab Limited is engaged in manufacturing of high quality open-end cotton yarn, also engaged in selling and distribution of open end cotton yarn and cotton waste. Issue Type – Fresh Issue – Fixed Price. No. of Shares – 51, 84,000 Equity Shares. Lot Size – 2000 Equity Shares. HNI Quota – 24,62,000 Equity Shares. Retail Quota – 24,62,000 Equity Shares.Market Maker Quota – 2, 60,000 Equity Shares.
It has a strong foothold in the Yarn Industry and Years of experience in manufacturing Cotton open end yarn. Yarn is the end product of spinning, vital for cotton woven or knitted fabric. Also engaged in selling and distribution channel of open end cotton yarn and cotton waste. The issue proceeds will be utilized to meet Working Capital requirement and General Corporate Purposes.
United Cotfab Limited is located at Dascroi- Ahmedabad Originally incorporated as United Cotfab LLP in 2015 under the LLP Act, 2008. Well Equipped with modern and automatic plant and machinery for manufacturing high-quality open-end yarn for the textile industry. The manufacturing process upholds strict quality standards with advanced technology and machinery support, also manufacturing facility with an annual installed capacity of approximately 9,125 MT. Yarn is widely used in knitting, weaving, crocheting, and various textile products.
The Company recorded a revenue of Rs. 115.53 Crs. with a profit after tax of Rs. 8.67 Crs. in the financial year 2023-24, compared to revenue of Rs. 64.02Â Crs. with a profit after tax of Rs. 0.14 Crs. in financial year 2022-23.
