December 23, 2024
New Delhi, India
Unimech Aerospace IPO
Unimech Aerospace and Manufacturing Ltd’s initial public offering (IPO) opened for subscription today, aiming to raise ₹500 crore. The IPO comprises a fresh issue and an offer for sale (OFS), each worth ₹250 crore. The price band is set between ₹745 and ₹785 per share, with a lot size of 19 shares.
IPO Details and Objectives:
- Price Band: ₹745 to ₹785 per share
- Lot Size: 19 shares per lot
- Total Issue Size: ₹500 crore
- Components: ₹250 crore as fresh issue and ₹250 crore as OFS
- Listing: Shares will debut on both BSE and NSE
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The company, a key player in engineering solutions, specializes in manufacturing mechanical assemblies, electromechanical systems, and components for the aerospace, defense, energy, and semiconductor industries.
Subscription Update:
As of 2:24 PM on Day 1 of bidding, the IPO was subscribed 2.24 times:
- Retail Segment: Subscribed 2.92 times
- Non-Institutional Investors (NII): Subscribed 2.23 times
Grey Market Premium (GMP):
Unimech Aerospace shares are exhibiting strong demand in the grey market, with a GMP of ₹482 per share. This indicates a potential listing price of ₹1,267, reflecting a premium of over 61% to the issue’s upper price band of ₹785.
With a bullish outlook in the grey market and a positive subscription trend, Unimech Aerospace’s IPO has garnered significant investor interest. Market participants eagerly await its listing on the stock exchanges.
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