The public issue of Unimech Aerospace and Manufacturing Limited opened on December 23, 2024 and will remain open until December 26, 2024. So, today is the last day for investors to apply for the mainboard IPO. The company has set the Unimech Aerospace IPO price band at Rs 745 to Rs 785.
The aero-engine component maker company aims to raise Rs 500 crore from this initial offer, a mix of fresh shares and offer for sale (OFS). It comprises a fresh issue of 32 lakh shares valued at Rs 250 crore and an OFS of an equal number of shares, also worth Rs 250 crore.
After the subscription window closes, the share allotment process is anticipated to be completed on Friday, December 27, 2024. Those who are successfully allotted shares will have them credited to their demat accounts by Monday, December 30, 2024.
Shares of Unimech Aerospace are expected to be listed on the BSE and NSE on Tuesday, December 31, 2024.
Unimech IPO Subscription Status
Unimech Aerospace has also received a stellar response from investors so far. By 11:30 AM on Thursday, the book build issue has been subscribed 30.73 times, the retail portion of the public issue had been booked 23.75 times, the NII segment had been filled 72.60 times, whereas the QIB segment had been subscribed 11.33 times, according to data available on the National Stock Exchange (NSE). The portion reserved for employees has been oversubscribed by 44.69 times.
Unimech IPO GMP
The shares of Unimech Aerospace continued to command a solid premium in the grey market as the IPO entered the second day of subscription. The unlisted shares were trading at Rs 1,415 per share, reflecting a grey market premium of Rs 630 against the upper end of the IPO price of Rs 785. The expected percentage gain per share is 80.25 per cent.
Unimech Aerospace plans to utilise the net proceeds from the fresh issue to fund capital expenditure related to expansion through the purchase of machinery and equipment and to meet its working capital requirements. Additionally, the company plans to invest in its material subsidiary to purchase machinery and equipment, fund working capital needs and repay or prepay certain borrowings of the subsidiary. A portion of the proceeds will also be allocated to general corporate purposes.
Anand Rathi Securities and Equirus Capital are the book-running lead managers of the Unimech Aerospace IPO. KFin Technologies serves as the registrar for the public issue.
Founded in 2016, Unimech Aerospace and Manufacturing Ltd is an engineering solutions company specialising in manufacturing and supplying critical parts such as aero tooling ground support equipment, electromechanical sub-assemblies, and other precision-engineered components for the aerospace, defence, energy and semiconductor industries. It has "build-to-print" capabilities, allowing it to produce products according to client designs, and "build-to-specifications" capabilities, where it helps clients design products that are then manufactured based on those specifications.
