Unimech Aerospace IPO closes today; Subscription rises 33x, GMP zooms 80%

Unimech Aerospace IPO GMP today: The unlisted shares of Unimech Aerospace command a solid premium in the grey markets as their initial public offering (IPO) is set to close for public subscription today, Thursday, December 26, 2024. Unimech Aerospace IPO, which opened for subscription on Monday, December 23, 2024, is available at a price band of Rs 745-785 apiece, with a lot size of 19 shares.

 

Sources tracking grey market activities revealed that Unimech Aerospace shares were quoted at Rs 1,415 apiece, reflecting a grey market premium (GMP) of Rs 630, or 80.25 per cent against the upper end of the IPO price.

  Unimech Aerospace IPO subscripion status

The public offering of Unimech Aerospace has so far received a favorable response from investors. Data available on the National Stock Exchange (NSE) revealed that the public offering garnered bids for 15,64,46,266 shares against 47,04,028 shares on offer, resulting in an oversubscription of 33.26 times as of 11:45 AM on December 26, 2024.

 

Notably, Non-Institutional Investors (NIIs) have placed the highest bids for the Unimech Aerospace IPO, oversubscribing the category reserved for them by 78.51 times. This has been followed by Retail Individual Investors (RIIs) at 25.22 times, and Qualified Institutional Buyers (QIBs) at 13.17 times.

  Unimech Aerospace IPO review

Unimech Aerospace has also received favorable reviews from several brokerages, including BP Wealth, InCred Equities, and Ventura Securities. Market analysts remain optimistic about the public offering and have broadly recommended subscribing to the issue. READ MORE

  Unimech Aerospace IPO allotment, listing schedule

As the public offering closes for subscription today, the basis of allotment of shares is expected to be finalised on Friday, December 27, 2024. Successful allottees will receive the shares in their demat accounts by Monday, December 30, 2024.

 

Shares of Unimech Aerospace are scheduled to list on the BSE and NSE tentatively on Tuesday, December 31, 2024.

  Unimech Aerospace IPO objective

Unimech Aerospace intends to utilise the net proceeds from the fresh issue to fund capital expenditure related to expansion through the purchase of machinery and equipment and to meet its working capital requirements. Further, the company plans to invest in its material subsidiary to purchase machinery and equipment, fund working capital needs, and repay or prepay certain borrowings of the subsidiary. A portion of the proceeds will also be allocated to general corporate purposes.

  About Unimech Aerospace

Unimech Aerospace and Manufacturing provides engineering solutions, focusing on manufacturing and supplying parts for various industries, including aerospace, defence, energy, and semiconductors. Its product range includes aero tooling, ground support equipment, electromechanical sub-assemblies, and precision-engineered components.

 

The company offers two manufacturing approaches: build-to-print, where products are made according to client designs, and build-to-specifications, where products are designed and manufactured based on client specifications.