Tue Dec 24 08:12:26 UTC 2024: **Unimech Aerospace IPO Oversubscribed on Day 2**
**Chennai, India (December 24, 2024)** – The Initial Public Offering (IPO) of Unimech Aerospace and Manufacturing continued its strong performance on its second day, exceeding expectations with significant investor interest. The IPO, which opened on December 23rd, aims to raise ₹500 crore (approximately $60 million USD) through a combination of fresh issue and offer-for-sale (OFS). The price band is set at ₹745-785 per share, with a lot size of 19 shares.
By midday on December 24th, the IPO was oversubscribed 6.38 times. Strong demand was seen across all investor categories: Retail investors subscribed 7.52 times, Non-Institutional Investors (NIIs) 7.38 times, Qualified Institutional Buyers (QIBs) 3.55 times, and employees an impressive 11.58 times. This follows a strong first day, where the IPO ended with a 3.82 times subscription.
The OFS includes shares from several promoters and selling shareholders, including Ramakrishna Kamojhala, Mani P, Rajanikanth Balaraman, Preetham S V, and the promoter group, Rasmi Anil Kumar. The IPO is scheduled to close on December 26th, with the shares expected to list on the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE) on December 31st. Anand Rathi Securities and Equirus Capital are the lead managers for the IPO, and KFin Technologies serves as the registrar. Three other IPOs – Senores Pharmaceuticals, Ventive Hospitality, and Carraro India – also closed on December 24th.
First Piper 