On the second day of bidding on Tuesday, December 24, the Unimech Aerospace and Manufacturing IPO has already been subscribed 9.6 times, with non-institutional investors (NIIs) driving the bid.
Its first share sale will raise Rs 500 crore from the primary market, according to the precision engineering solutions provider. Thursday, December 26 is the closing date for the issue.
Subscription across all categories
On the second day of subscription, Unimech Aerospace and Manufacturing Limited’s IPO saw bids for more than 4.28 crore shares, out of the 47.04 lakh shares available. Up until 5.00 pm, the issue was booked 9.6 times in total.
By submitting applications for 2.42 crore shares out of the 23.41 lakh shares set aside for the category, the retail investors fulfilled their quota 10.89 times. In contrast to the 10.03 lakh shares that were reserved for them, the NIIs subscribed 12.73 times, placing bids for over 1.21 crore shares.
Qualified Institutional Buyers (QIBs) applied for over 62.09 lakh shares out of the 13.38 lakh shares available, and they booked their quota 4.89 times. Because they bid for 16.47 lakh shares instead of the 20,134 shares they were allotted, the employees booked their quota 13.24 times.
IPO size and structure
The Rs 500.00 crore Unimech Aerospace IPO is a book-built offering. This issue consists of both a new issue of 0.32 crore shares worth Rs 250.00 crores and a sale offer of 0.32 crore shares worth Rs 250.00 crores.
Price band and minimum bid
The price range for Unimech Aerospace’s IPO is Rs 745 to Rs 785 per share. Applications must have a minimum lot size of 19. Retail investors must make a minimum investment of Rs 14,915.
For bNII, the minimum lot size investment is 68 lots comprising of 1,292 shares, which comes to Rs 10,14,220, and for sNII, it is 14 lots comprising of 266 shares, which amounts to Rs 2,08,810.
Subscription and listing dates
The subscription period for Unimech Aerospace’s initial public offering (IPO) began on December 23, 2024, and it will end on December 26, 2024. On Friday, December 27, 2024, the allocation for the Unimech Aerospace IPO is anticipated to be finalized.
The tentative listing date for Unimech Aerospace’s IPO is set for Tuesday, December 31, 2024, and it will be listed on the BSE and NSE.
Utilisation of IPO proceedings
The issue’s net proceeds will be utilized for general business purposes, working capital needs, the repayment or early repayment of some loans, and the acquisition of machinery and equipment.
Company financials
For the six months that concluded on September 30, 2024, the company reported revenue of Rs 127.58 crore. For the same period, its net profit was Rs 38.68 crore.
The business reported Rs 213.79 crore in revenue and Rs 58.13 crore in net profit for FY24.
