Unitec Fibres IPO

The Unitec Fibres SME IPO runs from 23 Sept 2026 to 25 Sept 2026, offered at a price band of ₹83–88 per share, and is set to list on BSE. The company is looking to raise ₹34.47 crore through the offer. Retail investors bid in lots of 1600 shares, a minimum application of ₹2,81,600.

Issue structure

The IPO is structured entirely as a fresh issue of ₹32.71 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward repayment/prepayment of all or certain of borrowings availed by the company (₹29.9 crore), alongside issue expenses (₹4.47 crore). In all, 3 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Unitec Fibres reported revenue of ₹224.86 crore and a net profit of ₹7.6 crore. Revenue grew from ₹204.99 crore in FY2024 to ₹224.86 crore in FY2026 (+10.0%). Net worth stood at ₹65 crore at the end of FY2026. At the upper band, that puts the issue at roughly 12.2× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 16.7× post-issue earnings and 1.61× book value, against a return on net worth of 11.69% and a debt-to-equity ratio of 1.19. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including Divyadhan Recycling Industries and Ganesha Ecosphere, with a median peer P/E of about 54.1×. The issue's own post-issue P/E works out to 16.7×.

Promoters

The promoters of the company are <p>Vijay Omjagdish Behl, Virander Behl, Devina Varinder Behl, Rajiv Behl, Mihir Suvanam, Magic Films Pvt.Ltd.</p>. Promoter holding stands at 94.2% before the issue and comes down to 68.61% after listing.

Grey market premium (GMP)

In the unofficial grey market, Unitec Fibres shares are quoted at a premium of ₹0 implying an expected listing around ₹88, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The Unitec Fibres IPO was subscribed 3.92 times overall. The strongest demand came from qualified institutional buyers (QIB) at 5.3 times, with non-institutional investors (NII) at 4.89× and retail investors at 2.73×.

Listing performance

Unitec Fibres listed on 30 Sept 2026 at ₹90, a premium of +2.3% over the issue price of ₹88.

What to weigh

When evaluating the Unitec Fibres IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Unitec Fibres

Unitec Fibres Limited is engaged in the manufacturing of Recycled Polyester Staple Fibre (RPSF), a sustainable product made from recycled PET flakes, PET chips, and other post-consumer polyester waste. The company contributes to the circular economy by converting plastic waste into value-added polyester fibres used across diverse industries. The company's RPSF products cater to applications in the automotive, textile, and home furnishing sectors. These fibres are widely utilized in products such as carpets, roof liners, trunk liners, sofas, curtains, cushions, and spinning yarn, serving a broad customer base across multiple end-use industries. Unitec Fibres operates two manufacturing facilities located in the M.I.D.C. Tarapur Industrial Area, Maharashtra, with a combined installed production capacity of 27,984 MTPA. To support future growth and increasing market demand, the company is in the process of establishing an additional manufacturing facility in Valsad, Gujarat. The company places significant emphasis on quality management and sustainable manufacturing practices. Its operations are supported by internationally recognized certifications, including ISO 9001:2015, ISO 14001:2015, OEKO-TEX®, and the Global Recycled Standard (GRS), demonstrating its commitment to product quality, environmental responsibility, and recycled material usage. Backed by a management team with extensive industry experience, Unitec Fibres focuses on operational efficiency, product consistency, and long-term customer engagement. As of March 31, 2026, the company had a workforce of 171 permanent employees across various functions, including manufacturing, quality control, maintenance, procurement, logistics, finance, human resources, administration, and international trade. Competitive Strengths: Strong presence in the recycled polyester fibre segment with a sustainability-focused business model. Established manufacturing infrastructure with ongoing capacity expansion initiatives. Robust quality control systems supported by globally recognized certifications. Experienced leadership team with deep industry knowledge and operational expertise. Diversified customer base and long-standing business relationships across key industries.