The United Cotfab IPO is a SME IPO set to open for subscription on 13th June’ 2024, and close on 19 June’ 2024. The company is aiming to raise Rs.36.29 crores with a fixed price of Rs.70 per share.
United Cotfab Limited is an Ahmedabad-based company engaged in manufacturing high-quality recycled open-end cotton yarn derived from cotton waste from the spinning industry. The company was originally incorporated in 2015 as United Cotfab LLP is now United Cotfab Ltd and entering the equity market.
Key details of the United Cotfab IPO include:
- Company: United Cotfab Limited, based in Ahmedabad, Gujarat
- Business: Manufacturing of high-quality open-end yarns for the textile industry
- Issue Size: Rs.36.29 crores
- Price per share: Rs.70
- Lot size: 2,000 shares
- Listing: BSE SME platform
- Purpose of the IPO: To fund working capital requirements and general corporate purposes
- The IPO consists entirely of a fresh issue of 5,184,000 equity shares.
United Cotfab IPO GMP:
There is a Grey Market Premium (GMP) associated with the IPO’s, indicating potential investor interest. The Grey Market Premium (GMP) for the United Cotfab IPO is currently ranging between Rs.15 and Rs.21. This indicates that the shares are trading at a premium in the grey market, suggesting a potential listing price of Rs.85 to Rs.91, which is a significant gain over the IPO price of Rs.70.
Note: GMP is an unofficial and unregulated indicator of market. It’s important to conduct thorough research and consider all factors before making investment decisions.
Source: SEBI & United Cotfab