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Unitec Fibres Ltd IPO
Unitec Fibres Ltd
₹2,65,600 /3200 sharesMinimum investment
IPO listing details
Listed on
30 Sep '26
Issue price
₹88.00
Listing price
₹90.00
Listing gains
₹2.00 (2.27%)
Exchange
--
IPO details
Minimum investment
₹2,65,600
Price range
₹83 - ₹88
Lot size
1,600
Issue size
34.47 Cr
Face value
10
IPO document
Subscription rate
Qualified Institutional Buyers5.30x
Non-Institutional Investor3.70x
Retail Individual Investor2.45x
Total3.54x
As of 25 Sep'26, 04:56 PM
Schedule
23 Sep 2026
IPO open date
25 Sep 2026
IPO close date
28 Sep 2026
Allotment date
28 Sep 2026
Funds unblock or debit
30 Sep 2026
Tentative listing date
About
Founded in
2005
MD/CEO
Mr Virander Behl
Parent organisation
Unitec Fibres Ltd
Unitec Fibres Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company uses polyester waste, PET waste and discarded PET bottles as raw materials for manufacturing Recycled Polyester Staple Fibre (RPSF). It also processes textile-based PET waste in-house through cleaning, shredding, melting and extrusion to produce RPSF.
The company has two operational manufacturing units at M.I.D.C., Tarapur Industrial Area, Maharashtra, with a combined installed capacity of 27,984 MTPA for RPSF. It has also acquired approximately 47,494 square metres of land in Valsad, Gujarat, where it is setting up an additional RPSF production line.
The company offers RPSF in a range of colours, cross sections, and deniers. According to the prospectus, this can reduce the need for additional dyeing of the fibre, which may lower the associated use of water and energy.
The company is ISO 9001:2015 certified for quality management systems and ISO 14001:2015 certified for environmental management systems. It also holds an Eco-Passport certificate issued by Oeko-Tex and a Global Recycled Standard (GRS) Version 4.0 certification.
The company’s promoter directors have experience in production and sales operations. Vijay Omjagdish Behl has around 10 years of experience in production activities, while Virander Behl has around 21 years of experience in overseeing sales operations.
As of September 10, 2026, the company had a confirmed order book of Rs 19.03 crore, excluding applicable taxes. The orders covered customers from end-use industries, including non-woven fabrics, home furnishings, automobiles, and other industrial applications.
The company’s RPSF products are used across automobile, home furnishing and textile applications. These include car carpets, roof liners and trunks in automobiles, sofas, curtains and carpets in home furnishings, and applications in spinning mills.
A significant portion of the company’s domestic revenue is concentrated in Gujarat, Maharashtra, Tamil Nadu, and Haryana. These four states contributed Rs 133.47 crore (59.52%), Rs 126.05 crore (55.67%), and Rs 120.74 crore (59.14%) to revenue from operations in FY26, FY25, and FY24, respectively. Any adverse economic, regulatory, logistical, or other developments in these regions, or inability to expand into other markets, could adversely affect the company’s revenue, profitability, and cash flows.
The company depends on a limited number of customers for a significant portion of its revenue, while most customer engagements are purchase order-based without long-term contracts. Its top 10 customers contributed Rs 103.02 crore (45.94%), Rs 102.05 crore (45.07%), and Rs 97.25 crore (47.64%) to revenue from operations in FY26, FY25, and FY24, respectively. Loss of major customers, reduction in orders, pricing pressure, or delays in payments could adversely affect the company’s revenue, profitability and cash flows.
The company depends on a limited number of suppliers for key raw materials such as PET flakes, polyester waste, PET chips, and PET bottles, without long-term or exclusive supply contracts. Its top 10 suppliers accounted for Rs 96.35 crore (64.64%), Rs 88.11 crore (57.83%), and Rs 86.42 crore (64.64%) of total purchases in FY26, FY25, and FY24, respectively. Any disruption in supplies, increase in procurement costs, or inability to secure alternative suppliers could affect production, margins, and the company’s ability to meet customer demand.
The company is heavily dependent on the sale of Recycled Polyester Staple Fibre (RPSF), which accounted for Rs 219.85 crore (98.04%), Rs 220.67 crore (97.46%), and Rs 197.27 crore (96.63%) of revenue from operations in FY26, FY25, and FY24, respectively. Decline in demand for RPSF, lower production or sales volumes, increased competition, availability of substitutes or changes in government policies and environmental regulations could adversely affect the company’s revenue and profitability.
The company, its promoters, directors and a group company are involved in certain ongoing legal proceedings before various courts and forums. Any adverse decision in any of these proceedings could adversely affect the company’s business, and financial condition.
The company’s exports accounted for Rs 20.55 crore (9.16%), Rs 35.84 crore (15.83%), and Rs 12.55 crore (6.15%) of revenue from operations in FY26, FY25, and FY24, respectively. Its international operations expose it to changes in foreign market demand, trade restrictions, regulatory requirements, and foreign exchange rates, and the company does not currently hedge its foreign currency exposure. Any adverse developments in its export markets or significant currency fluctuations could adversely affect its revenue, margins and cash flows.
The company has reported negative cash flows from investing activities of Rs 45.08 crore, Rs 27.85 crore, and Rs 7.79 crore in FY26, FY25, and FY24, respectively, while cash and cash equivalents decreased by Rs 2.34 crore in FY26 and Rs 4.17 crore in FY24. The negative investing cash flows were mainly due to purchases of property, plant and equipment of Rs 39.90 crore in FY26, Rs 32.43 crore in FY25, and Rs 2.80 crore in FY24, along with increases in long-term loans and advances of Rs 5.88 crore in FY26 and Rs 6.92 crore in FY24. If the company continues to require significant cash outflows for capital expenditure and other investments without generating sufficient cash from operations, it could face pressure on its liquidity and ability to fund its business requirements.
The company had contingent liabilities and capital commitments amounting to Rs 73.97 crore as of March 31, 2026, compared with Rs 71.95 crore as of March 31, 2025 and Rs 21.68 crore as of March 31, 2024. These include GST outstanding demands of Rs 26.83 crore, income tax outstanding demands of Rs 4.70 crore, customs demands of Rs 4.97 crore and TDS-related liabilities of Rs 2.20 crore as of March 31, 2026, along with Rs 35.28 crore of capital commitments for importing new machinery and constructing a factory building. If a significant part of these liabilities materialise, the resulting cash outflows could adversely affect the company’s liquidity, cash flows and financial condition.
As of March 31, 2026, the company had total outstanding borrowings of Rs 77.19 crore. The company is required to service these borrowings and related finance costs, and any inability to meet its repayment obligations could adversely affect its business, cash flows and financial condition.
Application details
For Unitec Fibres IPO, eligible investors can apply as Individual investor.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Individual investor | ₹83 - ₹88 | ₹2 - ₹5 Lakhs | 1600 |
About
Objectives of Unitec Fibres IPO Proceeds
|
Particulars |
Estimated Amount (in ₹ Cr.) |
|
Repayment and or repayment of all or certain of the borrowings availed of by the company |
31.00 |
|
General corporate purposes |
[.] |
|
Total |
[.] |
Book Running Lead Manager & Registrar of Unitec Fibres IPO
|
Book Running Lead Manager |
Smart Horizon Capital Advisors Private Limited |
|
Registrar to the Issue |
Bigshare Services Private Limited |
Key Performance Indicators (KPIs) of Unitec Fibres Ltd.
|
KPI |
Value (for the fiscal year ended March 31, 2026) |
|
ROE (%) |
12.41 |
|
ROCE (%) |
9.05 |
|
EBITDA Margin (%) |
7.03 |
|
PAT Margin (%) |
3.39 |
|
Debt-to-equity Ratio (times) |
1.19 |
|
Return on Net Worth (RoNW) (%) |
11.69 |
|
Net Asset Value (NAV) per Equity Share (₹) |
61.89 |
|
EPS (Pre-IPO) (₹) |
7.233 |
Unitec Fibres IPO Contact Details
|
Company Name |
Unitec Fibres Limited |
|
Registered Office |
BLDG No 8 Flat No 3, Oshiwara Mahda Complex, Andheri (W), Mumbai-400053, Maharashtra, India. |
|
Phone |
+91 8657019917 |
|
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|
Website |
Unitec Fibres IPO Registrar Contact Details
|
Company Name |
Bigshare Services Private Limited |
|
Phone |
+91 22 6263 8200 |
|
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Website |