Unitec Fibres IPO closed Day 1 with a cumulative subscription of 0.03x. Retail and Non-Institutional Investors led the marginal demand, while Qualified Institutional Buyers registered zero participation.

Subscription Status

The issue opened on September 23, 2026, and ended its first day of bidding with a total subscription of 0.03x. The demand was primarily driven by Non-Institutional Investors (bHNI) and Retail investors, while institutional interest remained absent throughout the day.

Subscription Progression

Intra-day Timeline on 23-09-2026

Category-wise Breakdown

Qualified Institutional Buyers (QIB): The category recorded 0.00x subscription, indicating no institutional participation as of the end of Day 1.

Non-Institutional Investors (NII):

• Big HNI (bHNI): Subscribed 0.07x, showing the highest relative interest among all categories.
• Small HNI (sHNI): Subscribed 0.03x.

Retail Individual Investors: The retail category subscribed 0.03x, reflecting cautious but slightly improved sentiment compared to the morning session.

Employees: No subscription data was reported for the employee quota.

Offer Details

Unitec Fibres is offering shares in a price band of ₹83.00 to ₹88.00. The issue size ranges from ₹265600 crore to ₹500000 crore. The minimum bid quantity is set at 3200 shares. The IPO opened on September 23, 2026, at 10:00 AM and will close on September 25, 2026, at 4:00 PM.

About the Company

Unitec Fibres Limited is engaged in the manufacturing of Recycled Polyester Staple Fibre (RPSF) using recycled raw materials such as PET flakes, PET chips, and polyester waste sourced from discarded plastic bottles and post-consumer waste streams. The company operates two manufacturing units at MIDC, Tarapur, Palghar, with a combined installed capacity of 27,984 MTPA, and is in the process of establishing a third unit at Valsad, Gujarat. Its products serve diverse end-use industries including automobiles, home furnishing, non-woven fabrics, and textiles.

The company holds ISO 9001:2015, ISO 14001:2015, Oeko-Tex, and Global Recycled Standard (GRS) certifications. It is led by Mr. Virander Behl (MD) and Mr. Vijay Omjagdish Behl (COO).

Financial Highlights

The company reported revenue from operations of ₹224.24 crores in FY2026, a slight decrease from ₹226.42 crores in FY2025. Net profit stood at ₹7.60 crores in FY2026 compared to ₹8.22 crores in FY2025.

Objects of the Issue

• Repayment/Prepayment of Borrowings: A portion of the net proceeds will be used to repay or prepay secured borrowings from banks and financial institutions, including term loans and cash credit facilities, to reduce outstanding indebtedness and improve the debt-to-equity ratio.
• General Corporate Purposes: The balance net proceeds will be deployed for general corporate purposes, including meeting operating expenses, initial development costs, strengthening business development and marketing capabilities, and meeting unforeseen exigencies.

Risk Factors

• Geographic Revenue Concentration: A significant portion of domestic revenue is concentrated in Gujarat, Maharashtra, Tamil Nadu, and Haryana, contributing 59.52%, 55.67%, and 59.14% of revenue from operations for FY2026, FY2025, and FY2024, respectively.
• Customer Concentration: The top 10 customers accounted for approximately 45.94%, 45.07%, and 47.64% of revenue from operations for FY2026, FY2025, and FY2024, respectively, with no long-term contractual arrangements in place.
• Single Product Dependency: Recycled Polyester Staple Fibre (RPSF) accounted for approximately 98.04%, 97.46%, and 96.63% of total revenue from operations for FY2026, FY2025, and FY2024, respectively.
• High Indebtedness: As of March 31, 2026, the company had outstanding secured borrowings of ₹6,317.92 lakhs and unsecured loans of ₹1,401.30 lakhs repayable on demand.