Unimech Aerospace IPO: GMP surges as listing enters last day
What's the story
Unimech Aerospace's initial public offering (IPO) closes for subscription today. The public issue opened on December 23 with an aim to raise ₹500 crore.
The IPO comprises a fresh issue of 32 lakh shares worth ₹250 crore and an equal number of shares worth ₹250 crore under an offer for sale (OFS).
The IPO's price band has been fixed at ₹745 to ₹785 per share.
Investment details
Investor categories and minimum investment requirements
Investors must apply for at least 19 shares, which translates to a minimum investment of ₹14,915.
For small Non-Institutional Investors (NIIs), the minimum application size is 14 lots or 266 shares, which will require an investment of ₹2,08,810.
Meanwhile, large NIIs have to apply for at least 68 lots or 1,292 shares, which will cost ₹10,14,220.
Subscription status
Unimech Aerospace IPO receives strong response from investors
The IPO has received a stellar response from investors, with an overall subscription of 13.02 times till today morning.
The retail category was subscribed 13.16 times, the qualified institutional buyers (QIB) segment 4.89 times, and the non-institutional investors (NIIs) segment a strong 23.4 times.
The gray market premium (GMP) for Unimech Aerospace IPO has surged significantly in recent days, indicating strong demand.
Market performance
Unimech Aerospace's GMP suggests potential gain for investors
The latest GMP is ₹610 as of today morning. Considering the upper price band of ₹785, the estimated listing price would be ₹1,395 per share. This indicates a potential gain of 77.71% for investors.
Incorporated in 2016, Unimech Aerospace and Manufacturing Limited is a major player in the aerospace industry, manufacturing complex tools, mechanical assemblies, electro-mechanical systems, and components for aeroengine and airframe production.
Listing details
Unimech Aerospace's shares to be listed on BSE and NSE
The shares' allotment for Unimech Aerospace IPO will likely be finalized on Friday, December 27.
Those who have applied can check the allotment status through official platforms once the process is complete.
The shares will list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Tuesday, December 31, 2024.