Unimech Aerospace IPO GMP Day 2 Highlights: The initial public offer (IPO) of Unimech Aerospace and Manufacturing Ltd saw a strong response, receiving 9.08 times subscription on the second day of bidding on Tuesday. The Rs 500-crore share sale attracted bids for 4,27,26,573 shares, compared to 47,04,028 shares on offer, as per data from the NSE.
The non-institutional investor segment saw 12.06 times subscription, while the Retail Individual Investors (RIIs) category was subscribed 10.29 times. The Qualified Institutional Buyers (QIBs) portion garnered 4.64 times subscription. The IPO includes a fresh issue of up to Rs 250 crore and an offer-for-sale (OFS) of up to Rs 250 crore. The price band for the issue has been set at Rs 745-785 per share, with Anand Rathi Advisors Ltd and Equirus Capital Private Ltd serving as the book running lead managers to the offer.
Unimech Aerospace IPO Day 2 Live Updates: Subscription hits 9.08 times
Unimech Aerospace's Rs 500-crore IPO has been subscribed 9.08 times as of Day 2, receiving bids for over 4.27 crore shares against 47.04 lakh shares available, according to NSE data.
Unimech Aerospace provides high-precision engineering and complex manufacturing solutions for sectors such as aerospace, defence, energy, and semiconductors, positioning itself as a key industry player.
Unimech Aerospace IPO Day 2 Live Updates: Rs 250 crore fresh issue and offer for sale
The Unimech Aerospace IPO includes a Rs 250 crore fresh issue and an offer-for-sale (OFS) of Rs 250 crore. The price band for the IPO is set at Rs 745-785 per share.
Unimech Aerospace IPO Day 2 Live: Qualified Institutional buyers show steady interest
The Qualified Institutional Buyers (QIBs) category witnessed a 4.64 times subscription in Unimech Aerospace's IPO as the bidding progressed to its second day.
Unimech Aerospace IPO Day 2 Live Updates: Retail investors drive with 10.29 times subscription
The retail individual investors' (RIIs) portion of Unimech Aerospace's IPO was subscribed 10.29 times by the end of Day 2, reflecting high interest from the segment.
Unimech Aerospace IPO Day 2 Live Updates: Strong demand from non-institutional investors
Non-institutional investors showed robust interest in Unimech Aerospace's IPO, subscribing 12.06 times the shares reserved for their category on the second day of bidding.
As of December 24, the grey market premium (GMP) for the public issue stands at Rs 510 per share. With the upper price band set at Rs 785, the shares are expected to be listed at Rs 1,295, reflecting a premium of 64.97%.
The grey market premium (GMP) indicates the price investors are willing to pay above the issue price. The GMP for this issue has risen to Rs 510, up from Rs 480 on December 23.
Unimech Aerospace IPO Day 2 Live Updates: NII portion subscribed 12.07x, retail at 10.30x
The Non-Institutional Investors (NII) segment of Unimech Aerospace's public issue was subscribed 12.07 times on the second day, followed by retail investors at 10.30x. The Qualified Institutional Buyers (QIBs) portion also saw strong demand, with a 4.64x subscription rate.
Unimech Aerospace IPO Day 2 Live Updates: Grey market premium steady at Rs 510, expected listing at Rs 1,295
As of December 24, 5:30 pm, the grey market premium for Unimech Aerospace remains steady at Rs 510 per share following the second day of public bidding.
With the upper price band set at Rs 785, the shares are projected to list at Rs 1,295, reflecting a 64.97% premium, based on data from Investorgain.com.
Unimech Aerospace IPO Live Updates: 9.01x subscription on Day 2; NII leads with 11.92x bids
The public offering of Unimech Aerospace has garnered strong investor interest, achieving 9.01x subscription by the second day. A total of 4,23,80,336 shares have been bid for, significantly exceeding the 47,04,028 shares on offer.
The Non-Institutional Investors (NII) category is driving the momentum, with subscriptions reaching 11.92x. Retail investors have also shown robust participation, recording 10.21x bids. Meanwhile, the Qualified Institutional Buyers (QIBs) segment has been subscribed 4.63x, reflecting steady demand from institutional players.
Unimech Aerospace IPO Day 2 Live Updates: Listing and allotment
The share allotment is expected to be finalised on December 27, with the issue set to be listed on NSE and BSE on December 31.
Unimech Aerospace IPO Day 2 Live Updates: Lead managers and registrars
Anand Rathi Securities and Equirus Capital are overseeing the Unimech Aerospace IPO as the lead managers, while Kfin Technologies is handling the registration process for the issue.
Unimech Aerospace IPO Day 2 Live Updates: Subscription status on day 01
The IPO was subscribed to a total of 4.05 times on the first day (December 23). The retailers booked the IPO 4.75 times while the employee section was booked 6.89 times. The NII portion was subscribed 4.26 times and QIBs booked it 2.62 times.
Unimech Aerospace IPO Day 2 Live Updates: Objectives of the issue
The company plans to use the net proceeds for financing capital expenditures for expansion through the acquisition of machinery and equipment. It will also use the funds to address the working capital requirements of the company and general corporate purposes.
Unimech Aerospace IPO Day 2 Live Updates: Financial update
On the financial front, the company reported a turnover of Rs 36 crore, Rs 94 crore and Rs 209 crore for FY21, FY22, and FY23 respectively, on a consolidated basis. It posted a net profit of Rs 3 crore, Rs 23 crore and Rs 58 crore respectively for the aforementioned period, witnessing improvement in margins and a strong CAGR of 140% in revenues and 314% for net profit for FY 22-24.
Unimech Aerospace IPO Day 2 Live Updates: Product portfolio
The company's products have been supplied to over 26 customers across seven countries, further solidifying the company's position as a trusted supplier in its field. Unitech's product portfolio spans a wide range of aerospace and defense tools, such as engine lifting and balancing beams, airframe assembly platforms, and missile components.
Unimech Aerospace IPO Day 2 Live Updates: Business overview
Unimech Aerospace and Manufacturing is a leading global provider of high-precision engineering solutions, renowned for its ability to deliver complex, custom-engineered products. Specializing in both "build to print" and "build to specifications" services, the company offers a comprehensive suite of capabilities that includes machining, fabrication, assembly, testing, and the creation of entirely new products tailored to meet the precise requirements of its clients.
Unimech Aerospace IPO Day 2 Live Updates: Reliance Sec's take on IPO
"The company is also focusing on inorganic growth through acquisitions and partnerships with customers for the end use in various sectors like defence, automotive and energy sectors improving its consistent financial performance in the coming years. Hence, we recommend a 'Subscribe' to the issue," said Reliance Securities in an IPO note.
Unimech Aerospace IPO Day 2 Live Updates: About UniMech
Unimech Aerospace is a global high-precision engineering solutions company specializing in complex manufacturing solutions for the aerospace, defence, energy, and semiconductor industries. The company is enhancing its global footprint in strategic regions and expanding to new markets for new clients, capturing a higher market share from existing customers utilizing its capacity expansion and collaborative manufacturing for its growth in MRO markets and aircraft fleet with a higher fixed asset turnover ratio in the coming years.
Unimech Aerospace IPO Day 2 Live Updates: EPS at upper price band
The company reported earnings per share of Rs 13.23 for the fiscal year ending March 31, 2024, resulting in a Price-to-Earnings (P/E) ratio of approximately 59.33x at the upper end of the price band.
Unimech Aerospace IPO Day 2 Live Updates: GMP update
The shares of Unimech Aerospace were fetching a premium of 65% in the grey market, indicating a listing of stocks around a price of Rs 1295. The grey market is an unofficial place to trade shares ahead of listing.