 "Unimech Aerospace IPO worth Rs 500 cr subscribed 9 times on day 2 of offer")
The initial public offer (IPO) of Unimech Aerospace and Manufacturing Ltd received 9.08 times subscription on the second day of bidding on Tuesday.
The Rs 500-crore initial share-sale received bids for 427,265,73 shares against 470,402,8 shares on offer, as per NSE data.
Non-institutional investors garnered 12.06 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 10.29 times. The category for Qualified Institutional Buyers (QIBs) fetched 4.64 times subscription.
The IPO has a fresh issue of up to Rs 250 crore and an offer-for-sale (OFS) of up to Rs 250 crore.
Price range for the offer has been fixed at Rs 745-785 per share.
Anand Rathi Advisors Ltd and Equirus Capital Private Ltd are the book running lead managers to the offer.
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Unimech Aerospace is a high-precision engineering solutions company specialising in complex manufacturing solutions for the aerospace, defence, energy and semiconductor industries.
Shares of the firm will be listed on the BSE and NSE.