Fri Dec 27 08:30:00 UTC 2024: **Unimech Aerospace IPO Overwhelmingly Oversubscribed; Listing Expected Tuesday**

BENGALURU, INDIA – Unimech Aerospace and Manufacturing’s initial public offering (IPO) closed with an astounding 175.31 times oversubscription, the company announced. The IPO, which ran from December 23rd to 26th, offered shares at ₹745-785, raising ₹500 crore (approximately $60 million USD). The allotment of shares is expected to be finalized on December 27th, with investors receiving notifications regarding fund debits or IPO mandate revocations by December 30th.

The strong investor response saw particularly high demand from Qualified Institutional Bidders (QIBs) at 317.63 times oversubscription and Non-Institutional Investors (NIIs) at 263.78 times. Retail investors and employees also showed significant interest, with 56.87 and 97.81 times oversubscription, respectively.

The grey market premium (GMP) has soared, reaching ₹630, suggesting a potential listing gain of around 80% for investors. The company’s shares are slated to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 31st.

Investors can check their allotment status on the BSE website (https://www.bseindia.com/investors/appli_check.aspx) or the KFin Technologies portal (https://kosmic.kfintech.com/ipostatus). Anand Rathi Securities and Equirus Capital acted as the book-running lead managers, while KFin Technologies served as the registrar. Unimech Aerospace and Manufacturing, founded in 2016, specializes in manufacturing complex components for aeroengine and airframe production.

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