Unitec Fibres IPO
Unitec Fibres LtdSME
This IPO closed on 25 Sep 2026.
- Open date
- 23 Sep 2026
- Close date
- 25 Sep 2026
- Min. Investment
- ₹2,81,600
- Lot Size
- -
- Fresh Issue
- ₹34.47 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- DRHP - PDF(opens in a new tab)
Subscription rate
- Qualified Institutional Buyers5.30x
- Non-Institutional Investors3.87x
- Retail-Individual Investors2.73x
- Total3.72x
Schedule
- Completed: IPO open date23 Sep 2026
- Completed: IPO close date25 Sep 2026
- Current step: Allotment date28 Sep 2026
- Upcoming: Funds unblock or debit28 Sep 2026
- Upcoming: Tentative listing date30 Sep 2026
About
Promoter shareholding in Unitec Fibres Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Vijay Omjagdish Behl | 26,55,000 | 25.28% | 26,55,000 | 18.41% |
| Rajiv Behl | 28,00,000 | 26.66% | 28,00,000 | 19.42% |
| Magic Films Pvt Ltd | 16,34,537 | 15.56% | 16,34,537 | 11.34% |
| Virander Behl | 13,88,957 | 13.23% | 13,88,957 | 9.63% |
| Devina Virander Behl | 5,33,877 | 5.08% | 5,33,877 | 3.70% |
| Mihir Suvanam | 6,65,000 | 6.33% | 6,65,000 | 4.61% |
| Vibha Behl | 1,45,009 | 1.38% | 1,45,009 | 1.01% |
| Vasudha Behl | 70,000 | 0.67% | 70,000 | 0.49% |
Unitec Fibres IPO Strengths & Risks
- Polyester Waste Recycling and Sustainable Products.
- Our Manufacturing units.
- Quality Certifications.
- Experienced Promoter and Management Team.
- Our Order Book.
- Risks Relating to the Business: A significant portion of the company's domestic revenue is derived from customers located in states such as Gujarat, Maharashtra, Tamil Nadu and Haryana, which together contributed 59.52% 55.67%, and 59.14% of its revenue from operations for the financial years 2026, 2025 and 2024, respectively, and any adverse developments in these regions or the company's inability to expand into new locations or maintain operational effectiveness in existing markets may materially and adversely affect its business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company depends on a limited number of key customers for a substantial portion of its revenue and the absence of long-term contractual arrangements with such customers exposes the company to customer concentration, demand volatility and credit risks that could adversely affect its business and financial performance.
- Risks Relating to the Business: The company depends on a limited number of suppliers for its raw materials and the absence of long-term contractual arrangements with such suppliers exposes the company to supply, quality and pricing risks that could adversely affect its business and financial performance.
- Risks Relating to the Business: The company's business is dependent and will continue to depends on its manufacturing facility, and the company is subject to certain risks in its manufacturing process. Any slowdown or shutdown in the company's manufacturing operations or strikes, work stoppages or increased wage demands by its employees that could interfere with the company operations could have an adverse effect on its business, financial condition and results of operations.
- Risks Relating to the Business: The Company derives a significant portion of its revenue from Recycled Polyester Staple Fibre ("RPSF"), and any reduction in the demand or sale of such products could adversely affect the company's business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: There may be potential conflicts of interest between the Company and its Promoters, members of the company's Promoter Group, Group Company or entities in which its Promoters and Directors have an interest, which could adversely affect the company's business and operations.
- Risks Relating to the Business: The Company is party to certain legal proceedings. Any adverse decision in such proceedings may have an adverse effect on the company's business, results of operations and financial condition.
- Risks Relating to the Business: The company operations are dependent on its existing machinery, equipment and technology for critical business functions, and any failures to maintain, repair, upgrade or adapt to technological changes may adversely affect the company's business and results of operations.
- Risks Relating to the Business: The company is dependent on the performance of certain end-user industries and any slowdown or fluctuations in the performance of such industries may result in a loss of such customers, and may adversely affect the demand for the company's products.
- Risks Relating to the Business: The company export its products to various countries and the company's revenue from customers outside India represented 9.16%, 15.83% and 6.15%, of the total revenue from operations for the financial years ended March 31, 2026, 2025 and 2024, respectively. The company's international operations expose it to risks relating to foreign market conditions, regulatory requirements and foreign exchange fluctuations which could adversely affect the company's business, financial condition and results of operations.
- Risks Relating to the Business: The company is subject to various laws and extensive government regulations and if its fails to obtain, maintain or renew the company's statutory and regulatory licenses, permits and approvals required in the ordinary course of its business, including environmental, health and safety laws and other regulations, the company's business financial condition, results of operations and cash flows may be adversely affected.
- Risks Relating to the Business: The company's Statutory Auditors have identified certain Key Audit Matters and an Emphasis of Matter in their audit reports for FY 2023-24, FY 2024-25, FY 2025-26. Although these matters have been evaluated and addressed in the Restated Financial Statements, any recurrence of similar matters or identification of material discrepancies in the future could adversely affect the company's financial condition and results of operations.
- Risks Relating to the Business: There are differences between the Inventory, Trade Receivables and Trade Payables reported in the statements submitted to the company's lending banks and the corresponding balances reflected in its books of account, Audited Financial Statements and Restated Financial Statements, which may subject it to further queries, reconciliation or other actions.
- Risks Relating to the Business: Charges in respect of certain of the company's vehicle loans have not been created or registered with the Registrar of Companies within the prescribed timelines, and any failures to regularise the same or repay the underlying borrowings may expose it to regulatory scrutiny or other consequences.
- Risks Relating to the Business: The Company's logo "UNITEC FIBRES LIMITED" is not registered with Registrar of Trademark and its applications have been objected; any infringement of the company's brand name or failures to get it registered may adversely affect the company's business.
- Risks Relating to the Business: The Company had negative cash flows in the past years, details of which are given below. Sustained negative cash flow could impact its growth and business.
- Risks Relating to the Business: The Company has certain contingent liabilities, the materialization of which could adversely affect its business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: The Company has outstanding capital commitments towards acquisition of plant and machinery and construction of factory building. Any delay or inability to meet such commitments may adversely affect its expansion plans, operational efficiency and financial condition.
- Risks Relating to the Business: Its may be required to reverse Input Tax Credit availed by the company, along with applicable interest and other statutory dues, if any, in respect of amounts payable to suppliers that remain unpaid beyond the prescribed period, which may adversely affect its cash flows, financial condition and results of operations.
- Risks Relating to the Business: Any decline in the number of customers, inability to retain existing customers or acquire new customers may adversely affect the company's business, financial condition and results of operations.
- Risks Relating to the Business: Bank statements evidencing the receipt and utilisation of funds in respect of certain historical allotments made on February 11, 2005 and March 31, 2006 are not available and may not be capable of being retrieved, which may expose it to regulatory scrutiny or other adverse consequences.
- Risks Relating to the Business: Inventories and trade receivables form a major part of the company's current assets. Failures to manage its inventory and trade receivables could have an adverse effect on the company's sales, profitability, cash flow and liquidity, goodwill, business, financial condition and results of operations.
- Risks Relating to the Business: The company avail of certain tax benefits under Section 80JJAA of the Income-tax Act, 1961, and any discontinuation, non-availability or reduction of such benefits may adversely affect the company's profits and financial condition.
- Risks Relating to the Business: There are certain discrepancies and non-compliances noticed in some of the company's financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities.
- Risks Relating to the Business: There are certain inadvertent errors noticed in some of the company's corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate and other law could impact the reputation and financial position of the Company to that extent.
- Risks Relating to the Business: The company operates its registered office and current manufacturing units from leased properties and does not hold ownership rights in such properties. Any termination, non-renewal, or unfavorable revision of lease terms, may materially and adversely affect the company's business, operations, financial condition, results of operations, and cash flows.
- Risks Relating to the Business: Information relating to historical installed capacity of the company's manufacturing units included in this Red Herring Prospectus is based on various assumptions and estimates and its future manufacturing operations and capacity utilization may vary. Under-utilization of the company's existing manufacturing units and an inability to effectively utilize its manufacturing capacities could have an adverse effect on the company's business, future prospects, and future financial performance.
- Risks Relating to the Business: The company Order Book may not be representative of its future results. Orders included in the company Book may be delayed, cancelled or not fully paid for by its customers, which could materially harm the company's cash flow position, revenues and earnings.
- Risks Relating to the Business: The company is subject to strict quality requirements, and the acceptability of its products is largely dependent upon the company's quality controls and standards. Any failures to comply with quality standards may adversely affect its business prospects and financial performance, including cancellation of existing and future orders.
- Risks Relating to the Business: The company relies on third-party transportation providers for both procurement of the company's raw materials and distribution of its products. Since the company does not have any long-term contractual arrangements with such service providers, any failures by any of its transportation providers to deliver the company's raw materials or its products on time, or in good condition, or at all, may adversely affect the company's business, financial condition and results of operations.
- Risks Relating to the Business: The company is exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact its results of operations.
- Risks Relating to the Business: The company's loan agreements with lender have several restrictive covenants and certain unconditional rights in favour of the lender, which could influence its ability to expand, in turn affecting the company's business and results of operations.
- Risks Relating to the Business: Unsecured loans taken by the Company can be recalled by the lenders at any time.
- Risks Relating to the Business: The company's Promoters have provided personal guarantees to certain loan facilities availed by the company, which if revoked may requires alternative guarantees, repayment of amounts due or termination of the facilities.
- Risks Relating to the Business: Any increase in interest rates would have an adverse effect on its results of operations and will expose the Company to interest rate risks.
- Risks Relating to the Business: The company's insurance coverage may not adequately protect it against certain operating risks inherent in the company's business operations. Any uninsured loss or liability could adversely affect its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The Company has entered into related party transactions in the past and may continue to enters into related party transactions in the future, which may potentially involve conflicts of interest with the equity shareholders.
- Risks Relating to the Business: The company's success largely depends upon the knowledge and experience of its Promoters, Directors, the company's Key Managerial Personnel as well as its ability to attract and retain them. Any loss of the company's Promoter, Directors, Key Managerial Personnel, Senior Management or its ability to attract and retain them could adversely affect the company's business, financial condition and results of operations.
- Risks Relating to the Business: Employee misconduct including misuse of confidential data and failures to maintain confidentiality of information could harm the company and is difficult to detect and deter.
- Risks Relating to the Business: The company's business is working capital intensive and any inability to effectively manage or fund its working capital requirements could adversely affect the company's business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The Company is having limited availability of comparable Indian peer companies which are listed and have similar business as to the Company.
- Risks Relating to the Business: The company operates in a highly competitive and fragmented recycling industry and faces competition from organized and unorganized players, which may adversely affect its business operations and financial condition.
- Risks Relating to the Business: The company propose to repay or prepay of certain outstanding borrowings availed by the Company. However, no assurance can be made that the Company will not requires further funding and that such funding will be available at attractive rates or that by repaying the borrowings, will in fact improve its available funding alternatives.
- Risks Relating to the Business: The Company will utilize the Net Proceeds only for the Objects of the Issue as disclosed in this Red Herring Prospectus. Any delay in deployment of the Net Proceeds or inability to utilize them in an efficient manner may adversely affect its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: Any variation in the utilization of the Net Proceeds shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company, if such approval is not obtained in a timely manner, or at all, it could negatively affect its operations.
- Risks Relating to the Business: A portion of the Net Proceeds from the Fresh Issue is proposed to be utilised for general corporate purposes, the specific deployment of which has not been identified as on the date of this Red Herring Prospectus .
- Risks Relating to the Business: The average cost of acquisition of Equity Shares held by the company's Promoters could be lower than the Issue Price.
- Risks Relating to the Business: Fluctuations in foreign exchange rates may adversely affect returns to investors and the market price of the company's Equity Shares, independent of its operating performance.
- Risks Relating to the Business: Climate change, extreme weather events and the absence of a comprehensive business continuity or disaster recovery plan may disrupt its supply chain, logistics, and manufacturing operations, adversely affecting the company's business.
- Risks Relating to the Business: The company's Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- Risks Relating to the Business: The company's Promoters, certain of its directors and key managerial personnel holds Equity Shares in the Company and are therefore interested in its performance other than remuneration and reimbursement of expenses.
- Risks Relating to the Business: Adverse publicity regarding any product its sell could negatively impact the company.
- Risks Relating to the Business: Terrorist attacks, civil unrests and other acts of violence or war involving India or other countries could adversely affect the financial markets, the company's business, financial condition and the price of its Equity Shares.
- Risks Relating to the Business: The company may not be successful in implementing its business strategies, Failures to implement the company's business strategies would have a material adverse effect on its business and results of operations.
- Risks Relating to the Business: Some of the company's Directors does not have experience of being a director of a public listed company.
- Risks Relating to the Business: The company's ability to achieve its financial objectives depends on the company's capability to effectively identify, source and convert business opportunities, and any failures in doing so may adversely affect its business, growth prospects and financial performance.
- Risks Relating to the Business: The Company's ability to pay dividends in the future will depends on the Company's future results of operations, financial condition, cash flows and working capital and capital expenditure requirements.
- Risks Relating to the Business: There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
- Risks Relating to the Business: The company has not commissioned an industry report for the disclosures made in the section titled `Industry Overview' and made disclosures on the basis of the data available on the internet and such data has not been independently verified by the company.
- Risks Relating to the Business: If the company fails to maintain an effective system of internal controls, its may not be able to successfully manage, or accurately report, the company's financial risks. Despite its internal control systems, the company may be exposed to operational risks, including fraud, petty theft and embezzlement, which may adversely affect its reputation, business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: As the company continue to grow, its may not be able to effectively manage the company's growth and the increased complexity of its business, which could negatively impact the company's brand and financial performance.
- Risks Relating to the Business: Subsequent to the listing of the Equity Shares, the company may be subject to pre-emptive surveillance measures such as the Additional Surveillance Measures and the Graded Surveillance Measures by the Stock Exchanges in order to enhance the integrity of the market and safeguard the interest of investors.
- Risks Relating to the Business: Significant differences exist between Indian GAAP and other accounting principles, such as US GAAP and IFRS, which may be material to investors assessments of the Company's financial condition. Its failures to successfully adopt IFRS may have an adverse effect on the price of the company's Equity Shares. The proposed adoption of IFRS could result in its financial condition and results of operations appearing materially different than under Indian GAAP.
