The offer received bids for 1.79 crore shares as against 0.47 crore shares on offer.
The initial public offer (IPO) of Unimech Aerospace and Manufacturing received bids for 1,79,22,111 shares as against 47,04,028 shares on offer, according to stock exchange data at 17:00 IST on Monday (23 December 2024). The issue was subscribed 3.81 times.The issue opened for bidding on 23 December 2024 and it will close on 26 December 2024. The price band of the IPO is fixed between Rs 745 and 785 per share. An investor can bid for a minimum of 19 equity shares and in multiples thereof.
The issue comprises both offer for sales (OFS) and fresh issue. The OFS comprises sales of equity shares of Rs 250 crore by the promoters and promoter group companies. The fresh issue comprises an issue of shares aggregating upto Rs 250 crore.
Of the net proceeds from fresh issue, Rs 36.37 crore will be used towards capital expenditure for capacity expansion, Rs 25.28 crore for working capital requirements, Rs 128.61 crore towards funding investment in its material subsidiary and balance is for general corporate expenses.
Ahead of the IPO, Unimech Aerospace and Manufacturing on Friday, 20 December 2024, raised Rs 149.55 crore from anchor investors. The board allotted 19.05 lakh shares at Rs 785 each to 18 anchor investors.
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Unimech Aerospace and Manufacturing is an engineering solutions company specializing in manufacturing and supply of critical parts such as aero tooling, ground support equipment, electro-mechanical sub-assemblies and other precision engineered components for aerospace, defence, energy, and semiconductor industries.
It offers a range of capabilities, from product conceptualization to final assembly. Its capabilities include design, engineering, manufacturing, and quality assurance, enabling it to deliver complex and customized solutions to its clients.
The firm reported a consolidated net profit of Rs 38.68 crore and sales of Rs 120.66 crore for the six months ended on 30 September 2024.
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