Unitech Aerospace and Manufacturing is engaged in the manufacturing of complex tools like mechanical assemblies, electro-mechanical systems, and components for aeroengine and airframe production.
Unitech Aerospace and Manufacturing is engaged in the manufacturing of complex tools like mechanical assemblies, electro-mechanical systems, and components for aeroengine and airframe production.Shares of Unimech Aerospace and Manufacturing are set to make their Dalal Street debut on Tuesday, December 31. The company is likely to deliver a strong listing pop to the investors but one should slash their expectations of a Multibagger listing pop considering the correction in its grey market premium (GMP).
Ahead of its debut, the grey market premium (GMP) of Unimech Aerospace and Manufacturing has seen a fall considering the volatile market conditions. Last heard, the company was commanding a premium of Rs 625 in the unofficial market, suggesting a listing gains of around 80 per cent for the investors. The GMP stood at Rs 715 following the allotment of shares.
The IPO of Bengaluru-based Unimech Aerospace and Manufacturing was open for bidding between December 23 and December 26. It had offered its shares in the price band of Rs 745-785 per share with a lot size of 19 shares. The company raised a total of Rs 500 crore via IPO, which included a fresh share sale of Rs 250 crore and offer-for-sale (OFS) of up to Rs 250 crore.
The issue was overall subscribed a whopping 175.31 times. The allocation for the qualified institutional bidders (QIBs) was subscribed a solid 317.63 times The portion for non-institutional investors (NIIs) was subscribed 263.78 times. Allocations for retail investors and employees were booked 56.87 times and 97.81 times, respectively during the three-day bidding process.
Incorporated in 2016, Bengaluru-based Unitech Aerospace and Manufacturing is engaged in the manufacturing of complex tools like mechanical assemblies, electro-mechanical systems, and components for aeroengine and airframe production, specializing in the manufacturing of complex products.
Brokerage firms had a positive view on the issue, suggesting to subscribe to it. Anand Rathi Securities and Equirus Capital are the book running lead managers of the Unimech Aerospace and Manufacturing IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE.
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