Unimech Aerospace IPO Skyrockets with Record Subscription

Unimech Aerospace and Manufacturing Ltd's initial public offering (IPO) gained remarkable traction, being subscribed 174.93 times its initial bid. The Rs 500-crore offer attracted significant interest from Qualified Institutional Buyers, non-institutional investors, and Retail Individual Investors. The company specializes in high-precision manufacturing for aerospace and defense sectors.

The initial public offering (IPO) of Unimech Aerospace and Manufacturing Ltd concluded on an impressive note, as the IPO was subscribed a staggering 174.93 times on its final day, Thursday. The overwhelming demand highlights investors' confidence in the company's future prospects.

According to data from NSE, the Rs 500-crore IPO attracted bids for 82,28,93,040 shares as opposed to the 47,04,028 shares initially on offer. Notably, Qualified Institutional Buyers (QIBs) led the demand with an extraordinary 317.63 times subscription, while non-institutional investors followed with a 263.40 times subscription. Retail Individual Investors (RIIs) also showed strong support, subscribing 56.16 times.

Unimech Aerospace, known for its intricate engineering solutions in sectors like aerospace and defense, has set its price range at Rs 745-785 per share for the IPO. Anand Rathi Advisors Ltd and Equirus Capital Private Ltd are the lead managers for this offering, with shares scheduled for listing on BSE and NSE.

(With inputs from agencies.)