Unimech Aerospace and Manufacturing IPO Day 1 Live Updates: The public offering for engineering solutions company Unimech Aerospace and Manufacturing is scheduled to start accepting subscriptions on December 23 and will close on December 26. Unimech Aerospace and Manufacturing has raised ₹149.5 crore via its anchor book, which was initiated on December 20, prior to its IPO.
The company has allocated half of the total issue size for qualified institutional buyers (including a portion of up to 60 percent designated for the anchor book), 15 percent for non-institutional investors, and the remaining 35 percent for retail investors.
The Initial Public Offering (IPO) of Unimech consists of a fresh equity issuance of up to ₹250 crore alongside an offer for sale (OFS) not exceeding ₹250 crore by selling shareholders from the promoter and promoter group.
In the OFS, Ramakrishna Kamojhala, Rajanikanth Balaraman, Preetham S V, and Rasmi Anil Kumar will be divesting a portion of their stakes. The price range for the offering has been set at ₹745-785 per share.
Based in Karnataka, the company operates two manufacturing facilities in Bangalore and focuses on producing and supplying essential components such as aero tooling, ground support equipment, electro-mechanical sub-assemblies, and various precision-engineered items for the aerospace, defence, energy, and semiconductor sectors. It competes with other publicly listed companies including MTAR Technologies, Azad Engineering, Paras Defence and Space Technologies, Dynamatic Technologies, and Data Patterns.
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Unimech Aerospace and Manufacturing IPO Day 1 Live Updates: Here’s what GMP indicates on Day 1
Unimech Aerospace IPO GMP today is +480. This indicates Unimech Aerospace share price was trading at a premium of ₹480 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Unimech Aerospace share price is indicated at ₹1,265 apiece, which is 61.15% higher than the IPO price of ₹785.
According to the last eight sessions of grey market activities, today’s IPO GMP is trending upwards and is anticipated to have a robust listing. The minimum GMP recorded is ₹0, while the maximum stands at ₹480, as per insights from experts at investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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