Unimech Aerospace IPO Day 2: Issue oversubscribed across categories over 6.3 times so far

Unimech Aerospace's initial public offering (IPO) received bids 6.34 times the issue size, with 29,820,063 shares subscribed against 4,704,028 shares offered so far, as of December 24th (the second day of the bidding process). The issue was fully subscribed across all categories, including Employees, Retail Individual Investors (RIIs), and Non-Institutional Investors (NIIs).

By 12:33 PM, employee bids had reached 11.52 times with 232,028 shares subscribed against 20,134. RIIs and NIIs had applied for 174,916,09 shares and 73,423,22 shares, respectively, representing subscription levels of 7.47 times and 7.32 times.

Meanwhile, Qualified Institutional Buyers (QIBs) had applied for 4,754,104 shares or 3.55 times their allotted portion of 1,338,255 shares.

The IPO comprises a fresh issue of Rs 250 crore and an offer-for-sale (OFS) of up to Rs 250 crore.

The company has fixed the price band between Rs 745 and Rs 785 per share. The book-running lead managers (BRLMs) of the issue are Anand Rathi Advisors Ltd and Equirus Capital Private Ltd. Unimech Aerospace is scheduled to debut on the stock exchange on Tuesday, December 31, 2024.

Who are Unimech's competitors?

Major peers in the industry and market are Azad Engineering, Dynamatic Technologies, MTAR Technologies, Paras Defence & Space Technologies, and Data Patterns India.

What does Unimech Aerospace do?

Unimech Aerospace and Manufacturing is an engineering solutions company specialising in the design and manufacturing of critical parts and other precision-engineered components for the aerospace, defence, energy, and semiconductor industries.