Great news for investors! The much-anticipated United Cotfab IPO is now open for subscription, starting today, June 13, 2024, and will close on June 19, 2024. This IPO offers a golden opportunity to invest in a growing player in the textile industry. Let’s dive into the details and why this could be a worthy addition to your portfolio.

Key Details of the IPO

  • Issue Size: Rs. 36.29 Crores
  • Issue Price: Rs. 70 per share
  • Minimum Investment: Rs. 140,000 (2,000 shares per lot)
  • Listing Exchange: BSE SME
  • Retail Allocation: 50%

Important Dates to Remember

  • Subscription Opens: June 13, 2024
  • Subscription Closes: June 19, 2024
  • Allotment Date: June 20, 2024
  • Refunds Initiation: June 21, 2024
  • Shares Credited to Demat Accounts: June 21, 2024
  • Listing Date: June 24, 2024

About United Cotfab

Founded in 2015, United Cotfab Limited specializes in producing high-quality open-end yarn for the textile industry. Their manufacturing facility is strategically located in Ahmedabad, Gujarat, close to the cotton-rich regions of Saurashtra and Maharashtra. This proximity allows the company to efficiently source raw materials and maintain a robust supply chain​. For more details visit Nifty Trader IPO section.

Financial Highlights

United Cotfab has demonstrated impressive growth over the past few years. For the fiscal year ending March 31, 2024, the company reported:

  • Revenue: Rs. 115.29 Crores (a staggering increase from Rs. 0.44 Crores in FY23)
  • Net Profit: Rs. 12.02 Crores, up from Rs. 0.21 Crores in the previous year (All Open IPO)​​ (Live analysis India Stock Market)​.

Objectives of the IPO

The funds raised through this IPO will be used to:

  1. Meet Working Capital Requirements: Ensuring smooth operations and supporting business growth.
  2. General Corporate Purposes: Addressing miscellaneous corporate needs.
  3. Public Issue Expenses: Covering the costs associated with the IPO process​ (Nifty Trader)​​ (TopBroker India)​.

Why Invest in United Cotfab?

United Cotfab stands out due to its strong financial performance, experienced management team, and strategic location advantages. The company’s commitment to quality and sustainable production practices makes it a reliable player in the textile industry. Moreover, the potential for future growth, backed by a scalable business model, makes this IPO an attractive opportunity for both retail and institutional investors.

How to Apply

Interested investors can apply for the United Cotfab IPO via ASBA (Applications Supported by Blocked Amount) through their bank accounts or UPI through stock brokers like Zerodha, Upstox, and many more with Nifty Trader. Make sure to act within the subscription window to secure your shares​ (IPO Watch)​​​.

Final Thoughts

This IPO is more than just an investment; it’s a chance to be part of a promising company poised for growth in the textile industry. Don’t miss out on this opportunity—review the prospectus, assess your investment goals, and consider adding United Cotfab to your portfolio.

For more detailed information and real-time updates, you can visit Nifty Trader real time analysis platform

Happy investing!

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