Fri Dec 27 08:02:17 UTC 2024: **Unimech Aerospace IPO Oversubscribed 175 Times, Expected to List on December 31**
BENGALURU, INDIA – December 27, 2024 – Unimech Aerospace and Manufacturing’s initial public offering (IPO) has concluded with overwhelming success, closing 175.31 times oversubscribed. The IPO, open from December 23-26, offered shares at ₹745-785, raising ₹500 crore (US$60.9 million) – ₹250 crore through fresh issuance and an equal amount through an offer-for-sale.
The strong demand was evident across investor categories: Qualified Institutional Bidders (QIBs) subscribed 317.63 times, Non-Institutional Investors (NIIs) 263.78 times, retail investors 56.87 times, and employees 97.81 times.
The company, which manufactures complex components for aeroengines and airframes, is expected to finalize share allotment by December 27. Investors will receive notification of allotment or refund by December 30. The grey market premium (GMP) currently stands at ₹630, suggesting a potential listing gain of around 80%.
Unimech Aerospace shares are slated to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on December 31, 2024. Investors can check their allotment status on the BSE website or through the registrar, KFin Technologies. Anand Rathi Securities and Equirus Capital acted as the book-running lead managers for the IPO.
First Piper 