Stellar debut! Unimech Aerospace shares list at 90% premium
What's the story
Unimech Aerospace and Manufacturing made a stellar debut on the stock market today, with its shares listing at ₹1,491 per share on the Bombay Stock Exchange (BSE). This is a massive premium of ₹706 or 89.9% over the issue price of ₹785.
The company's performance on the National Stock Exchange (NSE) was just as impressive, with shares debuting at ₹1,460 each - up 85.99% or ₹675 over the issue price.
Market performance
Unimech Aerospace's IPO surpasses market expectations
Ahead of its official listing, Unimech Aerospace's shares were available at ₹1,410 apiece in the gray market. This reflected a premium of ₹625 or 79.62% over the issue price.
The company's IPO was slightly above the market expectations with a listing premium of nearly 90%.
This stellar debut has made Unimech Aerospace a multibagger investment for those who got an allotment in the IPO.
IPO specifics
Unimech Aerospace's IPO details and investor response
The company's IPO was a ₹500 crore book-built issue, including a fresh issue of 3.2 million shares worth ₹250 crore and an equal number of shares in an offer for sale.
The Unimech Aerospace IPO price band was fixed at ₹745-785 per share with a lot size of 19 shares.
The public offering, which opened from December 23-26, was oversubscribed a whopping 175.31 times according to NSE data.
Fundraising
Unimech Aerospace raises funds from anchor investors
Unimech Aerospace raised ₹149.55 crore from anchor investors on December 20, 2024.
Anand Rathi Securities and Equirus Capital were the book-running lead managers for the IPO while KFin Technologies was the issue's registrar.
The company intends to use the public offering's proceeds for capital expenditure toward expansion, purchasing machinery and equipment, meeting working capital needs, investing in its subsidiary, and repaying certain borrowings availed by its subsidiary.