United Cotfab is launching a fixed price IPO worth ₹36.29 crores. The entire issue comprises a fresh issue of 51.84 lakh shares. Here are the key dates and details:
– **IPO Subscription Period:** June 13, 2024, to June 19, 2024
– **IPO Price:** ₹70 per share
– **Minimum Lot Size:** 2000 shares
– **Investment Required by Retail Investors:** ₹140,000 (minimum lot)
– **HNI Investment:** Minimum of 2 lots (4,000 shares), totaling ₹280,000
– **Listing Platform:** BSE SME
– **Tentative Listing Date:** June 24, 2024
– **Allotment Finalization Date:** June 20, 2024
**IPO Specifics:**
– **Total Issue Size:** 51.84 lakh shares (aggregating up to ₹36.29 crores)
– **Fresh Issue:** 51.84 lakh shares
– **Market Maker:** Spread X Securities
– **Book Running Lead Manager:** Beeline Capital Advisors Pvt Ltd
– **Registrar:** Purva Sharegistry India Pvt Ltd
**Share Allocation:**
– **Retail Investors:** 50% of the net issue
– **Other Investors:** 50% of the net issue
**Important Dates:**
– **IPO Open Date:** June 13, 2024
– **IPO Close Date:** June 19, 2024
– **Allotment Date:** June 20, 2024
– **Refunds Initiation:** June 21, 2024
– **Credit of Shares to Demat Accounts:** June 21, 2024
– **Listing Date:** June 24, 2024
– **Cut-off Time for UPI Mandate Confirmation:** 5 PM on June 19, 2024
**Lot Size and Investment:**
Investors can apply for a minimum of 2000 shares and in multiples thereof. Here’s the breakdown of minimum and maximum investments:
| Category | Lots | Shares | Amount |
|———-|——|——–|——–|
| Retail (Min) | 1 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4000 | ₹280,000 |
**Promoter Information:**
The promoters of United Cotfab are Mr. Nirmalkumar Mangalchand Mittal and Mr. Gagan Nirmalkumar Mittal. The shareholding structure is as follows:
– **Pre-Issue:** 100.00%
– **Post-Issue:** 69.84%
**Company Profile:**
Incorporated in 2015, United Cotfab Limited manufactures high-quality open-end yarn for the textile industry. The company’s clients include textile manufacturers, garment exporters, and distributors. Their product portfolio includes open-end cotton yarn and cotton yarn. The company’s manufacturing facility is located in Taluka, Ahmedabad, with an installed capacity of approximately 9125 MT per annum. As of March 31, 2024, United Cotfab employs 118 people.
**Financial Performance:**
United Cotfab has shown significant growth in its financials between March 31, 2023, and March 31, 2024:
– **Revenue:** Increased by 17,945.52%
– **Profit After Tax (PAT):** Increased by 6,121.46%
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|————–|————-|————-|————-|————-|
| Assets | 8,168.46 | 5,367.71 | 1,559.95 | 107.10 |
| Revenue | 11,552.74 | 64.02 | 1.88 | – |
| PAT | 866.65 | 13.93 | 1.60 | -0.11 |
| Net Worth | 1,356.42 | 993.56 | 681.97 | 0.22 |
| Total Borrowing | 4,750.93 | 3,821.18 | 773.47 | 106.50 |
(All amounts are in ₹ Lakhs)
**Key Performance Indicators (as of March 31, 2024):**
– **Market Capitalization:** ₹120.33 crores
– **ROE:** 72.76%
– **ROCE:** 26.95%
– **Debt/Equity:** 3.42
– **RoNW:** 63.89%
– **P/BV:** 6.19
– **PAT Margin:** 7.52%
**Earnings Per Share (EPS) and Price-to-Earnings (P/E) Ratio:**
– **Pre-IPO EPS:** ₹7.22
– **Post-IPO EPS:** ₹5.04
– **Pre-IPO P/E:** 9.7x
– **Post-IPO P/E:** 13.88x
**Objectives of the Issue:**
The funds raised from the IPO will be used for:
1. Working Capital Requirements
2. General Corporate Purposes
3. Public Issue Expenses
