Unimech Aerospace IPO Day 3 Live Updates: Key Highlights, Subscription Status, and Insights
Unimech Aersopace’s initial public offer (IPO) entered into the third day of its subscription period with the subscription rate climbing to 33.35 times. The subscription period opened on December 23, 2024 and received a positive response from all investor segments.
Unimech Aerospace IPO: Issue Details
Unimech Aerospace’s IPO is a ₹500 crore book-built issue and consists of an offer-for-sale component and a fresh issue of equity shares. The company will issue 0.32 crore fresh equity shares while the offer-for-sale is for 0.32 crore equity shares as well.
The issue opened for subscription on December 23, 2024 and will conclude on December 26, 2024. The company will finalise the basis of allotment on December 27, 2024. Shares of the company will tentatively get listed on the stock exchanges on December 31, 2024.
Unimech Aerospace IPO: Day 3 Subscription Details
(December 26, 2024, 11:50 a.m.)
Entering into the third of the subscription period, Unimench Aersopace’s IPO saw robust demand across investor segments.
The company has reserved 13.38 lakh shares for qualified institutional buyers (QIBs) and received bids for 1.76 crore shares, or 13.17 times. The non-institutional investor (NII) portion was booked 78.51 times with bids for 7.88 crore shares against an offer of 10.03 lakh shares.
The retail investor portion was booked 25.22 times with bids for 5.9 crore shares against 23.41 lakh shares on offer. The company has reserved 20,134 shares for the employees of the company and received bids for 9.6 lakh shares, or 47.80 times.
On the third day, the issue was subscribed a total of 33.35 times with bids for 15.68 crore shares against an offer of 47.04 lakh shares.
Unimech Aerospace IPO: Price Band and Lot Size
The price band for the Unimech Aerospace IPO is set at ₹745 to ₹785 per share. The lot size for the issue is 19 shares. To apply to the IPO, an investor will need to make a minimum investment of ₹14,915. The minimum lots for small high net-worth investors and big high net-worth investors is set at 14 lots and 68 lots, respectively.
About Unimech Aerospace
Unimech Aerospace manufactures tools such as mechanical assemblies and electro-mechanical systems. Founded in 2016, the company also produces components for aeroengines and airframe production. The company caters to clients in the defence, aerospace, semiconductor, and energy sectors. The company has a wide-reach with customers in 7 countries. Further, the company has two manufacturing units located in Bengaluru.
The company reported that it will use the net proceeds of the IPO to meet the working capital requirements of the company. Funds will also be utilised for capital expenditure for the purchase of machineries and equipment.
Additionally, the company will invest the funds in its material subsidiary to meet its working capital requirements, capital expenditure, and partial or whole repayment/prepayment of borrowings.
The promoter group of the company includes Anil Kumar P, Ramakrishna Kamojhala, Mani P, Rajanikanth Balaraman, and Preetham SV. Before the issue, the shareholding of the promoter group stood at 91.83%.
For the quarter ended September 30, 2024, the company reported a revenue of ₹127.58 crore. The net profit for the quarter came in at ₹38.68 crore.
|
Disclaimer: This news is solely for educational purposes. The securities/investments quoted here are not recommendatory. To read the RA disclaimer, please click here |