Unimech Aerospace to list on BSE, NSE today after ₹500 crore IPO, See GMP, other details

Engineering solutions provider Unimech Aerospace and Manufacturing Ltd will list on the exchanges today after it filed for its ₹500 IPO

Updated on: Dec 31, 2024, 10:48:16 IST

By HT News Desk | Edited by Abhyjith K. Ashokan

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Engineering solutions provider Unimech Aerospace and Manufacturing Ltd.'s shares debuted on the Bombay Stock Exchange on Tuesday, December 31, after it filed for its ₹500 IPO.

IPO stands for Initial Public Offering and it is when the promoters of the company in question for the first time want to raise additional funds by offering shares of the company.

The IPO opened on December 23 and continued until December 26, with the allotment finalised on December 28.

The company's shares will be a part of the Special Pre-open Session (SPOS) today, and the stock will be available for trading starting at 10am.

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The current Grey Market Premium (GMP) for the company's shares is ₹716 per share, with the listing price estimated to be ₹1,501 apiece, a premium of 91% to the IPO price of ₹785 per share, according to a Mint report.

The Unimech Aerospace IPO was a combination of a fresh issue of 32 lakh equity shares worth ₹250 crore and an offer-for-sale (OFS) of equity shares worth ₹250 crore.

The price band was between ₹745 and ₹785 per share.

It was oversubscribed 175.31 times, attracting bids for 82.46 crore equity shares as against 47.04 lakh shares on the offer.

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Retail investors oversubscribed 56.74 times their portion, while Non Institutional Investors (NII) booked 263.78 times, Qualified Institutional Buyers (QIB) oversubscribed 317.63 times, and employees oversubscribed 97.81 times.

Anand Rathi Securities, Equirus Capital are the book running lead managers, while Kfin Technologies is the IPO registrar.

About Unimech Aerospace

Unimech Aerospace and Manufacturing Ltd is an engineering solutions provider that specializes in manufacturing and supplying critical parts such as aero tooling, ground support equipment, electromechanical subassemblies, and other precision-engineered components for the aerospace, defence, energy, and semiconductor industries.

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As of September 2024, the company's order backlog was valued at ₹807.52 million, and delivery timelines ranged from 4 to 16 weeks.

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