United Cotfab share price makes a lukewarm debut, stock opens with a mere 7% premium at ₹75 apiece on BSE SME

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₹75, which is 7.14% higher than the issue price of ₹70. Following a tepid listing, stock gained over 12% trading at ₹78.75 apiece at 10:10 IST. The price band for the United Cotfab IPO was set at ₹70 for each equity share, which has a face value of ₹10.

The subscription period for the United Cotfab IPO began on Thursday, June 13, and ended on Wednesday, June 19. Two thousand shares made up each lot in the United Cotfab IPO. On the last bidding day, United Cotfab IPO subscription status was 107.16 times.

Also Read: United Coftab IPO allotment to be finalised soon: Here's how to check allotment status as focus shifts to listingThe company produces premium open-end yarns for the textile sector. The firm uses state-of-the-art equipment and technology to assist its production process, which complies with strict quality requirements. The company has a rigorous process that includes choosing raw materials, spinning, winding, blending (if needed), and quality control.Nirmalkumar Mangalchand Mittal and Gagan Nirmalkumar Mittal are the promoters of the firm.