Tue Dec 24 11:34:43 UTC 2024: ## Unimech Aerospace IPO Oversubscribed on Day 2, Strong Grey Market Premium

**Mumbai, December 24, 2024** – The initial public offering (IPO) of Unimech Aerospace and Manufacturing continued its strong performance on its second day, December 24th, oversubscribed multiple times. The IPO, which opened on December 23rd and closes on December 26th, aims to raise ₹500 crore through a combination of fresh equity issuance and an offer for sale (OFS) by existing shareholders. The price band is set at ₹745-785 per share.

Early trading showed exceptionally high demand, with subscription levels fluctuating throughout the day. At various points, the overall subscription level reached as high as 9.01 times the shares on offer. Non-institutional investors (NIIs) showed the strongest interest, with subscription levels exceeding 11x at one point in the day. Retail investors also demonstrated robust participation, exceeding 10x at its peak. Qualified Institutional Buyers (QIBs) showed a more moderate but still significant interest, with subscriptions around 4.63x. By the close of the day, the final subscription numbers showed a robust overall oversubscription.

The grey market premium (GMP), an indicator of investor sentiment, also remained strong, reaching ₹510 per share by the end of the day, suggesting an expected listing price significantly above the upper price band. This reflects investor confidence in the company’s future prospects within the growing aerospace sector.

Unimech Aerospace, a leading exporter of aerospace components, has already secured ₹149.5 crore through its anchor book. The company plans to use the IPO proceeds for capital expenditure, working capital, and debt repayment. Analysts have cited the company’s strong financial performance and growth trajectory as reasons for the positive investor response. The final subscription figures and allocation details will be released after the IPO closes on December 26th.

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