Unitec Fibres IPO reached a cumulative subscription of 0.15x on Day 2, with Retail demand ticking up to 0.10x while QIB participation remained absent at 0.00x.

Subscription Status

The issue, which opened on 23 September 2026, has seen a marginal increase in overall subscription from Day 1 to Day 2. The total subscription moved from 0.13x to 0.15x, driven primarily by a slight uptick in Retail bids. The Non-Institutional Investors (NII) category showed mixed movement, with the bHNI segment holding steady at 0.60x and the sHNI segment increasing slightly to 0.13x. Institutional interest remains negligible, with QIBs recording no bids through the second day.

Subscription Progression

Category-wise Breakdown

The sHNI (bHNI) segment continues to lead the issue with a subscription level of 0.60x, maintaining the same level as the previous day. The NII (sHNI) category saw a modest increase, moving from 0.10x on Day 1 to 0.13x on Day 2. Retail investors showed increased activity, with subscription rising from 0.06x to 0.10x. Qualified Institutional Buyers (QIB) have not participated in the issue so far, recording 0.00x subscription.

Intra-day Timeline — 24 September 2026

Offer Details

What's Next

About the Company

Unitec Fibres Limited, founded in 2005 and headquartered in Mumbai, manufactures 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 establishing a third unit at Valsad, Gujarat. Its products serve the automobile, home furnishing, non-woven fabrics, and textiles sectors. 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

Objects of the Issue

• Repayment/Prepayment of Borrowings: ₹31.00 crore towards repayment or prepayment of certain secured borrowings from banks and financial institutions, including term loans and cash credit facilities, to reduce outstanding indebtedness, lower debt servicing costs, and improve the debt-to-equity ratio.
• General Corporate Purposes: Balance Net Proceeds towards 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: Gujarat, Maharashtra, Tamil Nadu, and Haryana collectively contributed 59.52%, 55.67%, and 59.14% of revenue from operations in FY2026, FY2025, and FY2024 respectively. Adverse regional developments could materially impact revenues.
• Customer Concentration: The top 10 customers accounted for approximately 45.94%, 45.07%, and 47.64% of revenue from operations in FY2026, FY2025, and FY2024 respectively, with no long-term contracts in place.
• Supplier Concentration: The top 10 suppliers accounted for 64.64%, 57.83%, and 64.64% of total purchases in FY2026, FY2025, and FY2024 respectively, with no long-term supply agreements.
• Single Product Dependency: RPSF accounted for approximately 98.04%, 97.46%, and 96.63% of total revenue from operations in FY2026, FY2025, and FY2024 respectively.
• High Indebtedness: As of 31 March 2026, outstanding secured borrowings stood at ₹6,317.92 lakhs and unsecured loans at ₹1,401.30 lakhs repayable on demand, with restrictive loan covenants in place.