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Ahmedabad based United Cotfab’s IPO Opens on 13th June 2024

Ahmedabad based United Cotfab Limited is engaged in manufacturing of high quality recycled open-end cotton yarn derived from the cotton waste from spinning industry. Originally incorporated in 2015 as United Cotfab LLP is now entering in to equity market and has announced an Initial Public Offer to open on 13th June 2024. The company is aiming to raise ₹ 36.29 Crore at an Issue Price of Rs.70/- per share having face value of each share is Rs. 10, set to be listed on the BSE SME platform. IPO Closing date is 19th June 2024.

The Lead Manager to the Issue is Beeline Capital Advisors Pvt. Ltd. and the Registrar to the issue is Purva Sharegistry (India) Pvt. Ltd.

Mr. Gagan Nirmalkumar Mittal, Chairman and Managing Director, having more than 18 years of experience in the Textile Industry Said, “We are pleased to announce our forthcoming IPO. We have a strong foothold in the Yarn Industry and Years of experience in manufacturing Cotton open end yarn. We are engaged in selling and distribution channel of recycled open end cotton yarn and cotton waste. Yarn is the end product of spinning, vital for cotton woven or knitted fabric.

The issue proceeds will be utilized to meet Working Capital requirement and General Corporate Purposes.

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