Unimech Aerospace, a company that specialises in the manufacturing of tools and components for the aerospace industry, opened its public issue on December 23, aiming to raise Rs 500 crore. The issue on its final day of bidding of the three-day window is set to close today (December 26).
The allotment of the shares is likely to be finalised tomorrow (December 27). Furthermore, the company is expected to list on the Indian bourses, NSE and BSE on December 31.
Unimech Aerospace IPO: GMP Soars
The IPO has generated significant buzz in the market, as reflected by its increasing grey market premium (GMP). As of latest trend, the IPO being on its third of bidding, is making waves with its GMP at Rs 610, suggesting a strong demand for the shares.
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This indicates a potential listing price of Rs 1,395 per share, offering investors a potential gain of up to 77.71 per cent based on the upper price band.
Unimech Aerospace IPO Day 3: Subscription Numbers so far
As of 12:09 PM today, the Unimech Aerospace IPO on its third day of bidding, the subscriptions rate stands at 41.42 times. Breaking it down by categories, the retail segment saw a strong subscription of 29.71 times, while Qualified Institutional Buyers (QIBs) subscribed 15.29 times. However, the biggest demand came from Non-Institutional Investors (NIIs), who subscribed the issue by 103.32 times so far.
Unimech Aerospace IPO: Price Band and Other Details
Unimech Aerospace IPO offers a price band between Rs 745 to Rs 785 per share.The IPO is structured as a combination of a fresh issue and an offer for sale.
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The fresh issue involves 0.32 crore shares aggregating to Rs 250 crore, while the offer for sale also consists of 0.32 crore shares, bringing in another Rs 250 crore.
Anchor Investor Subscription
Ahead of the opening of the issue, the company secured Rs 149.55 crore from anchor investors on December 20.
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