United Cotfab IPO fully subscribed on day 1; check latest GMP, subscription status, key dates, more
₹70 per equity share, having a face value of ₹10.The company produces high-quality open-end yarn for the textile industry. The company's manufacturing process meets high quality requirements and is supported by cutting-edge technology and machinery.
The company follows a rigorous process that includes raw material selection, blending (if necessary), spinning, winding, and quality control.The firm's proprietors are Nirmalkumar Mangalchand Mittal and Gagan Nirmalkumar Mittal. The company's promoters have over 55 years combined experience in the cotton textile industry.According to the Red Herring Prospectus (RHP), the company's (P/E of 517.10) listed peers include Lagnam Spintex Ltd (P/E of 8.93), PBM Polytex Ltd (P/E of 209.12), and Vippy Spinpro Ltd (P/E of 9.47).The United Cotfab IPO basis of share allocation will be completed on Thursday, June 20, and the business will begin refunds on Friday, June 21, with the shares credited to allottees' demat accounts on the same day.
United Cotfab's IPO shares are planned to be listed on BSE SME on Monday, June 24th.Also Read: United Cotfab IPO price band set at ₹70 apiece; SME IPO to kick off for subscription on June 13United Cotfab IPO subscription status is 1.71 times, on day 1, so far.The retail portion was subscribed 2.78 times, and NII portion was booked 35%.The company has received bids for 84,20,000 shares against 49,24,000 shares on offer, at 13:55 IST, according to data on chittorgarh.com.United Cotfab IPO GMP or grey market premium is +12. This indicates United Cotfab share price were trading at a premium of ₹12 in the grey market, according to investorgain.com.Given the top end of the IPO pricing band and the current premium in the grey market, the estimated listing
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