Unimech Aerospace and Manufacturing IPO: The price band for the initial public offer (IPO) of Unimech Aerospace and Manufacturing has been set at ₹745-785 per share. The company aims to raise ₹500 crore through the offering, which comprises a fresh issue of 0.32 crore shares worth ₹250 crore and an offer for sale of 0.32 crore shares, also aggregating to ₹250 crore.
The IPO will be open for bidding from Monday, December 23 to Thursday, December 26. Of the total offering, 50% is reserved for Qualified Institutional Buyers (QIBs), 35% for Retail Investors, and 15% for Non-Institutional Investors (NIIs).
Anand Rathi Securities and Equirus Capital Private are the book-running lead managers for the Unimech Aerospace IPO, while KFin Technologies is the registrar for the issue.
The company intends to utilise the net proceeds from the fresh issue to fund capital expenditure for expansion by purchasing machinery and equipment, as well as to meet its working capital requirements.
Additionally, a portion of the proceeds will be invested in its material subsidiary for purchasing machinery and equipment, funding its working capital needs, and repaying or prepaying certain borrowings availed by the subsidiary, either in full or in part. The remaining funds will be allocated for general corporate purposes, as per the RHP.
The allotment of shares for the Unimech Aerospace IPO is expected to be finalised on Friday, December 27, 2024. Tentative listing on both the BSE and NSE is scheduled for Tuesday, December 31, 2024. Retail investors can bid for a minimum of one lot, consisting of 19 shares, requiring a minimum investment of ₹14,915.
About Unimech Aerospace
Unimech Aerospace is a global high-precision engineering solutions provider specializing in the manufacturing of complex products through “build to print” and “build to specifications” offerings. These processes involve machining, fabrication, assembly, testing, and the creation of new products tailored to the specific requirements of clients in the aerospace, defense, energy, and semiconductor industries.
The company’s diverse product portfolio includes engine lifting and balancing beams, assembly, disassembly, and calibration tooling; ground support equipment; airframe assembly platforms; engine transportation stands; mechanical and electro-mechanical turnkey systems; and precision components.
As of March 31, 2024, Unimech Aerospace operated two manufacturing facilities, Unit I and Unit II, located in Bangalore, spanning a total area of over 120,000 sq. ft., as per the company’s RHP report.
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