Unimech Aerospace IPO Listing Tomorrow

Unimech Aerospace and Manufacturing IPO,  one of the upcoming IPOs, is set to debut on the stock market on Tuesday, December 31, 2024. The company’s shares will be listed on both major exchanges, marking an important milestone for the firm.

IPO Response and Subscription 

The ₹500 crore IPO, which was open for public bidding from December 23 to December 26, saw an overwhelming response. The issue was subscribed 175.31 times by the time it closed. The breakdown of the subscriptions is as follows:

• Qualified Institutional Buyers (QIBs): Subscribed 317.63 times
• Non-Institutional Investors (NIIs): Subscribed 263.78 times
• Retail Investors: Subscribed 56.87 times
• Employee Category: Subscribed 97.81 times

Anchor Investor Allocation 

The company raised ₹149.5 crore from anchor investors by allocating 19.05 lakh shares at ₹785 each. Notable investors in the anchor book include Goldman Sachs, Ashoka India Equity Investment Trust, Sunil Singhania’s Abakkus Diversified Alpha Fund, and several domestic mutual funds and insurance firms.

Details of the IPO 

The IPO consisted of a fresh issue of ₹250 crore and an offer-for-sale (OFS) of up to 31.82 lakh equity shares, valued at ₹250 crore.

Company Overview 

Unimech Aerospace, incorporated in 2016, specialises in manufacturing complex tools and components for the aerospace industry, including mechanical assemblies and electro-mechanical systems for aero-engine and airframe production. It provides engineering solutions with “build to print” and “build to specifications” services.

Use of IPO Proceeds 

The funds raised will be used for:

• Purchasing machinery and equipment
• Working capital requirements
• Repayment of borrowings
• General corporate purposes

Lead Managers and Registrar Anand Rathi Securities Limited and Equirus Capital Private Limited were the lead managers for the IPO, while Kfin Technologies Limited served as the registrar.

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