United Cotfab Ltd IPO opens. Check the GMP and other details
United Cotfab Ltd is engaged in manufacturing open end yarn for various applications in the textile industry. United Cotfab is operating in the textile market, as the manufacture and trader.
IPO Details
United Cotfab Ltd is categorised under SME. The other details are:
| Description | Details |
|---|---|
| Open Date | 13,Jun, 2024 |
| Close Date | 19,Jun, 2024 |
| Allotment Date | 20.Jun, 2024 |
| Listing Date | 24,Jun, 2024 |
| Issue Price | Rs. 70 per equity share |
| Face Value | Rs.10 |
| Market Lot | 2000 Shares (₹140,000/-) |
| Listing at Group | BSE |
| Registrar | Purva Sharegistry India Pvt Ltd |
| Lead Manager | Beeline Capital Advisors Pvt Ltd |
| Retail Portion | 50% |
| Issue Size | 5,184,000 shares(aggregating up to ₹36.29 Cr) |
Company Financials (Values are in ₹ Lakh)
| 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | |
|---|---|---|---|
| Assets | 7,470.82 | 5,367.71 | 1,559.95 |
| Revenue | 5,596.72 | 64.02 | 1.88 |
| Profit After Tax | 295.18 | 13.93 | 1.60 |
The Promoters of the company are currently holding 100% shares of the company but Post IPO, there shareholding will reduce to 69.84% .
Company Promoter(s)
- Mr. Nirmalkumar Mangalchand Mittal
- Mr. Gagan Nirmalkumar Mittal
Objectives of raising money :
- To finance Working Capital Requirements
- General Corporate Purposes
- To meet Public Issue Expense.
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Grey Market Premium (GMP) today :
The current GMP of the company is around Rs.18-20 which is around 26% of the Issue price . It is expected that investors can get a profit of 26% per lot if the stock lists at such GMP price.
Note: The GMP fluctuates on the basis of market demand.
Disclaimer:
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