Tue Dec 24 16:07:37 UTC 2024: ## Unimech Aerospace IPO Oversubscribed on Day 2, Strong Demand Expected to Continue

**Bangalore, India (December 25, 2024)** – The initial public offering (IPO) of Unimech Aerospace and Manufacturing continues to attract significant investor interest. On its second day of bidding, the IPO was oversubscribed by 9.09 times, with strong participation across all investor categories.

The ₹500 crore IPO, which opened on December 23rd and closes December 26th, comprises a fresh issue of up to ₹250 crore and an offer for sale (OFS) of up to ₹250 crore by existing shareholders. The price band is set at ₹745-785 per share. The company has already raised ₹149.5 crore through its anchor book.

By the close of Day 2, Non-Institutional Investors (NIIs) had subscribed 12.07 times their allotted portion, followed by retail investors at 10.30 times. Qualified Institutional Buyers (QIBs) showed strong, though less enthusiastic, interest, subscribing 4.64 times their portion.

The grey market premium (GMP) remained steady at ₹510 per share on Day 2, suggesting an anticipated listing price of ₹1,295, a premium of 64.97% over the upper price band. This reflects strong investor confidence in the company’s prospects.

Unimech Aerospace, a leading exporter of aerospace components to clients in the USA, Germany, and the UK, focuses on manufacturing critical components for the global aerospace industry. The company has reported impressive revenue and EBITDA growth rates in recent years. The IPO proceeds will fund capital expenditures and working capital needs, supporting further expansion.

Analysts have expressed positive sentiment towards the IPO, citing Unimech’s advanced manufacturing capabilities, strong financial performance, and favorable valuation compared to its peers. While the final subscription figures will be available after the IPO closes on December 26th, the strong demand seen so far suggests a successful public offering for Unimech Aerospace.

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