Unimech Aerospace IPO Day 1: Issue fully subscribed, retail portion booked 3.77 times
Unimech Aerospace’s initial public offer (IPO) opened for subscription on December 23, 2024. On the first day of the issue, the IPO received decent interest from investors. The issue was fully subscribed as the subscription rate climbed to 2.85 times.
Unimech Aerospace IPO: Issue Details
Unimech Aersopace’s IPO is a book-built issue of ₹500 crore. The issue opened for subscription on December 23, 2024, and is scheduled to conclude on December 26, 2024. The basis of allotment of shares is expected to be finalised on December 27, 2024. The tentative listing date of the shares of Unimech Aerospace is set at December 31, 2024.
The IPO is a combination of a fresh issue of equity shares and an offer-for-sale component. The IPO will see a fresh issue of 0.32 crore shares amounting to ₹250 crore and an offer-for-sale of 0.32 crore shares amounting to another ₹250 crore.
Unimech Aerospace IPO Day 1: Subscription Details
(December 23, 2024, 04:06 P.M.)
The company’s IPO was off to a strong start on the first day with the subscription rate of the issue pushed higher by non-institutional and retail investors.
The company has offered 13.38 lakh shares for qualified institutional buyers (QIBs) and the portion was subscribed 1.06 times with bids for 14.15 lakh shares. For non-institutional investors (NIIs), the company has reserved 10.04 lakh shares and the portion was subscribed 3.04 times with bids for 30.49 lakh shares.
The retail investor segment has 23.41 lakh shares on offer and was subscribed 3.77 times with bids for 88.21 lakh shares. The employee portion was subscribed 5.24 times with bids for 1.06 lakh shares against an offer of 20,134 shares.
The issue was subscribed 2.85 times with bids for 1.34 crore shares against 47.04 lakh shares on offer.
The company had raised ₹149.55 crore from anchor investors on December 20, 2024.
Unimech Aerospace IPO: Price Band and Lot Size
The lot size for the Unimech Aerospace IPO is 19 shares. The price band for the IPO Is set at ₹745 to ₹785 per share. To apply to the Unimech Aerospace IPO, an investor will need to make a minimum investment of ₹14,915. The minimum lot size for small non-institutional investors and big non-institutional investors has been set at 14 lots and 68 lots, respectively.
About Unimech Aerospace Limited
Unimech Aerospace Limited was founded in 2016 and manufactures various tools required in the production of electro-mechanical systems, aeroengines, airframes, and mechanical assemblies.
The company has a presence in 7 countries and has two manufacturing facilities in Bangalore.
The company will utilise the net proceeds of the IPO to fund the capital expenditure for machinery and equipment. The company will also utilise the funds to meet working capital requirements and repayment of borrowings of its material subsidiary.
For the quarter ended September 30, 2024, the company reported a net profit of ₹38.68 crore and a revenue of ₹127.58 crore.
In FY24, the company’s revenue came in at ₹213.79 crore and clocked in a net profit of ₹58.13 crore.
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