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The ₹500 crore initial share sale of Unimech Aerospace and Manufacturing Ltd. was open for public bidding from December 23 to December 26.
The aerospace and defence player saw a solid response from the investors. The issue was subscribed a whopping 175.31 times at close.
The category for the qualified institutional bidders (QIBs) was subscribed a sold 317.63 times while 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.
Earlier, the company had mopped up ₹149.5 crore from anchor investors as it finalised the allocation of 19.05 lakh shares at ₹785 apiece.
Anchor book included names like Goldman Sachs, Ashoka India Equity Investment Trust, Sunil Singhania’s Abakkus Diversified Alpha Fund, Copthall Mauritius, Clarus Capital, and various domestic mutual funds and insurance companies.
The IPO comprised of a fresh shares sale of ₹250 and an offer-for-sale (OFS) of up to 31.82 lakh equity shares amounting to ₹250 crore.
Unimech Aerospace will use the IPO proceeds towards funding purchase of machineries and equipment; funding working capital requirements; repayment / prepayment of certain borrowings; and general corporate purposes.
Incorporated in 2016, Unitech Aerospace and Manufacturing Limited is engaging in the manufacturing of complex tools like mechanical assemblies, electro-mechanical systems, and components for aeroengine and airframe production.
The company is an engineering solutions provider specialising in the manufacturing of complex products with “build to print” and “build to specifications” offerings.
Anand Rathi Securities Limited, Equirus Capital Private Limited were the book running lead managers of the Unimech Aerospace IPO, while Kfin Technologies Limited was the registrar for the issue.
First Published: Dec 30, 2024 10:32 AM IST