Engineering options supplier Unimech Aerospace and Manufacturing Ltd.’s shares debuted on the Bombay Inventory Trade on Tuesday, December 31, after it filed for its ₹500 IPO.
IPO stands for Preliminary Public Providing and it’s when the promoters of the corporate in query for the primary time need to increase further funds by providing shares of the corporate.
The IPO opened on December 23 and continued till December 26, with the allotment finalised on December 28.
The corporate’s shares will probably be part of the Particular Pre-open Session (SPOS) at this time, and the inventory will probably be out there for buying and selling beginning at 10am.
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The present Gray Market Premium (GMP) for the corporate’s shares is ₹716 per share, with the itemizing value estimated to be ₹1,501 apiece, a premium of 91% to the IPO value of ₹785 per share, in line with a Mint report.
The Unimech Aerospace IPO was a mixture of a recent difficulty of 32 lakh fairness shares price ₹250 crore and an offer-for-sale (OFS) of fairness shares price ₹250 crore.
The value band was between ₹745 and ₹785 per share.
It was oversubscribed 175.31 occasions, attracting bids for 82.46 crore fairness shares as towards 47.04 lakh shares on the provide.
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Retail buyers oversubscribed 56.74 occasions their portion, whereas Non Institutional Traders (NII) booked 263.78 occasions, Certified Institutional Patrons (QIB) oversubscribed 317.63 occasions, and staff oversubscribed 97.81 occasions.
Anand Rathi Securities, Equirus Capital are the guide working lead managers, whereas Kfin Applied sciences is the IPO registrar.
About Unimech Aerospace
Unimech Aerospace and Manufacturing Ltd is an engineering options supplier that makes a speciality of manufacturing and supplying important elements reminiscent of aero tooling, floor help tools, electromechanical subassemblies, and different precision-engineered parts for the aerospace, defence, vitality, and semiconductor industries.
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As of September 2024, the corporate’s order backlog was valued at ₹807.52 million, and supply timelines ranged from 4 to 16 weeks.