Latest News | Unimech Aerospace IPO Fully Subscribed on Day 1 on Encouraging Investors' Participation

New Delhi, Dec 23 (PTI) The initial public offering of Unimech Aerospace and Manufacturing Ltd received 3.81 times subscription on the first day of share sale on Monday, helped by encouraging investors' participation.

The Rs 500-crore initial share sale received bids for 1,79,22,111 shares, as against 47,04,028 shares on offer, as per NSE data.

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Retail Individual Investors (RIIs) part fetched 4.45 times subscription, while the category for non-institutional investors received 4.02 times subscription. The quota for Qualified Institutional Buyers (QIBs) got subscribed 2.49 times.

The Initial Public Offering (IPO) has a fresh issue of up to Rs 250 crore and an offer-for-sale (OFS) of up to Rs 250 crore.

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Price range for the offer has been fixed at Rs 745-785 per share.

Anand Rathi Advisors Ltd and Equirus Capital Private Ltd are the book running lead managers to the offer.

Unimech Aerospace is a high-precision engineering solutions company specialising in complex manufacturing solutions for the aerospace, defence, energy and semiconductor industries.

Shares of the firm will be listed on the BSE and NSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)