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The listing ceremony of Unimech Aerospace and Manufacturing Limited took place on the Bombay Stock Exchange.
Shares of Unimec Aerospace & Manufacturing Ltd were listed today at ₹1491 on Bombay Stock Exchange (BSE), up 89.94% from the issue price. The shares were listed at ₹1,460 on the National Stock Exchange (NSE), 85.9% above the issue price. The issue price of Unimac Aerospace's IPO was ₹785.
Unimac Aerospace's issue was worth ₹500 crore
This IPO of Unimech Aerospace and Manufacturing Limited was worth ₹500 crore. For this, the company issued 31,84,712 fresh shares worth ₹250 crore. At the same time, the promoters of the company sold 31,84,712 shares worth ₹ 250 crore through Offer for Sale i.e. OFS.
Retail investors could bid for maximum 247 shares
Unimech Aerospace & Manufacturing had fixed the IPO price band at ₹745-₹785. Retail investors could bid for a minimum of one lot i.e. 19 shares. If you had applied for 1 lot as per the upper price band of IPO of ₹ 785, you would have had to invest ₹ 14,915.
At the same time, retail investors could apply for a maximum of 13 lots i.e. 247 shares. For this, investors would have to invest ₹ 1,93,895 as per the upper price band.
35% of the issue was reserved for retail investors
The company had reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 35% share was reserved for retail investors and the remaining 15% share was reserved for non-institutional investors (NII).
Unitech Aerospace and Manufacturing was incorporated in the year 2016.
Unimech Aerospace and Manufacturing was incorporated in the year 2016. The company deals in manufacturing of complex tools such as mechanical assemblies, electro-mechanical systems and components for aeroengine and airframe production.
Unimec Aerospace & Manufacturing is a vital link in the global supply chain for the supply of critical parts such as aero tooling, ground support equipment, electro-mechanical sub-assemblies and other engineered components to global aerospace, semi-conductor, energy OEMs and their licensees. . Its key clients include top global airframe and aero-engine OEMs and their approved licensees.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
