United Cotfab IPO price band set at ₹70 apiece; SME IPO to kick off for subscription on June 13
₹70 per equity share with a face value of ₹10 apiece. The United Cotfab IPO will kickstart its subscription on Thursday, June 13, and close on Wednesday, June 19.
The United Cotfab IPO lot size consists of 2,000 shares. The firm manufactures high-quality open-end yarns for the textile industry.
The company's production process adheres to high quality standards and is supported by cutting-edge technology and machinery. The business employs a methodical methodology that involves raw material selection, mixing (if necessary), spinning, winding, and quality monitoring.Nirmalkumar Mangalchand Mittal and Gagan Nirmalkumar Mittal are the promoters of the firm.
The company's promoters have over 55 years of combined expertise in the cotton textile sector.Also Read: GP Eco Solutions India IPO to open for subscription on June 14; price band set at ₹90-94 apieceAs per the Red Herring Prospectus (RHP), the company's (P/E of 517.10) listed peers are Lagnam Spintex Ltd (with a P/E of 8.93), PBM Polytex Ltd (with a P/E of 209.12), and Vippy Spinpro Ltd (with a P/E of 9.47).Tentatively, the United Cotfab IPO basis of allocation of shares will be concluded on Thursday, June 20, and the firm will commence refunds on Friday, June 21, with the shares being credited to allottees' demat accounts on the same day. United Cotfab's IPO shares are expected to be launched on BSE SME on Monday, June 24.The United Cotfab IPO, worth ₹36.29 crore, consists of a fresh issuance of 5,184,000 equity shares at face value of ₹10.
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