Unimech Aerospace IPO Soars with 3.81x Subscription on Day One

Unimech Aerospace's initial public offering saw a robust response on its first day, with a 3.81 times subscription rate. The Rs 500-crore IPO attracted significant interest across all categories, with retail, non-institutional, and qualified buyers participating eagerly. Shares are set for listing on BSE and NSE.

The initial public offering (IPO) of Unimech Aerospace and Manufacturing Ltd witnessed an enthusiastic response, garnering a subscription of 3.81 times on its opening day. This boost was primarily driven by strong participation from investors.

According to NSE data, the Rs 500-crore IPO received bids for 1,79,22,111 shares compared to the 47,04,028 shares available. Retail Individual Investors achieved a remarkable 4.45 times subscription, while non-institutional investors followed closely with 4.02 times. The quota for Qualified Institutional Buyers recorded a subscription of 2.49 times.

The offering comprises a fresh issue amounting to Rs 250 crore and an offer-for-sale of up to Rs 250 crore, priced between Rs 745 and Rs 785 per share. Anand Rathi Advisors Ltd and Equirus Capital Private Ltd are managing the IPO. Known for its high-precision engineering in aerospace and related sectors, Unimech Aerospace is poised for stock market entry on the BSE and NSE.

(With inputs from agencies.)