Ahmedabad (Gujarat) [India], June 11: Ahmedabad based United Cotfab Restricted is engaged in manufacturing of top quality recycled open-end cotton yarn derived from the cotton waste from spinning business. Initially included in 2015 as United Cotfab LLP is now getting into in to fairness market and has introduced an Preliminary Public Supply to open on 13th June 2024. The corporate is aiming to boost ₹ 36.29 Crore at an Problem Worth of Rs.70/- per share having face worth of every share is Rs. 10, set to be listed on the BSE SME platform. IPO Deadline is nineteenth June 2024.

IPO Data:

Problem Opens on – Thursday, June 13, 2024

Problem Closes on – Wednesday June 19, 2024

Problem Measurement – Rs. 36.29 Cr.

Problem Worth Rs. 70/-

Face Worth – Rs. 10/-

Problem Sort – Recent Problem – Mounted Worth

No. of Shares – 51,84,000 Fairness Shares

Lot Measurement – 2000 Fairness Shares

HNI Quota – 24,62,000 Fairness Shares

Retail Quota – 24,62,000 Fairness Shares

Market Maker Quota – 2,60,000 Fairness Shares

The Lead Supervisor to the Problem is Beeline Capital Advisors Pvt. Ltd. and the Registrar to the difficulty is Purva Sharegistry (India) Pvt. Ltd.

Mr. Gagan Nirmalkumar Mittal, Chairman and Managing Director, having greater than 18 years of expertise within the Textile Business Stated, “We’re happy to announce our forthcoming IPO. We now have a robust foothold within the Yarn Business and Years of expertise in manufacturing Cotton open finish yarn. We’re engaged in promoting and distribution channel of recycled open finish cotton yarn and cotton waste. Yarn is the tip product of spinning, very important for cotton woven or knitted material.

The difficulty proceeds shall be utilized to satisfy Working Capital requirement and Common Company Functions.

About United Cotfab Restricted

United Cotfab Restricted is situated at Dascroi- Ahmedabad Initially included as United Cotfab LLP in 2015 beneath the LLP Act, 2008. Effectively Outfitted with trendy and computerized plant and equipment for manufacturing high-quality open-end yarn for the textile business. The corporate makes use of 100% of uncooked supplies derived out of cotton waste from spinning business, the cotton waste is used to fabricate the ultimate merchandise of the corporate in numerous classes of yarns from 6 counts to 30 counts thereby recycling the waste to yarns. These yarns are offered to corporates and types to fabricate sustainable clothes. Along with help the surroundings, firm has put in the solar energy plant of 1 MW to make use of inexperienced power. The manufacturing course of upholds strict high quality requirements with superior expertise and equipment help, additionally manufacturing facility with an annual put in capability of roughly 9,125 MT. Yarn is broadly utilized in knitting, weaving, crocheting, and numerous textile merchandise.

The Firm recorded a income of Rs. 115.53 Crs. with a revenue after tax of Rs. 8.67 Crs. within the monetary yr 2023-24, in comparison with income of Rs. 64.02 Crs. with a revenue after tax of Rs. 0.14 Crs. in monetary yr 2022-23.

For extra data please go to: www.unitedcotfab.com

Disclaimer

United Cotfab Restricted (“Firm”) is considering the potential, topic to essential approvals, market situations, and different issues, of initiating an preliminary public providing of its fairness shares (“IPO”) and has submitted the prospectus to the SME Platform of BSE Restricted (“BSE SME”). Potential buyers needs to be conscious that investing in fairness shares includes a major degree of danger. For detailed data concerning such dangers, potential buyers are suggested to check with the part titled “RiskFactors” within the Prospectus (“Firm”) is considering the potential, topic to essential approvals, market situations, and different issues, of initiating an preliminary public providing of its fairness shares (“IPO”).

You probably have any objection to this press launch content material, kindly contact pr.error.rectification@gmail.com to inform us. We are going to reply and rectify the state of affairs within the subsequent 24 hours.