Unimech Aerospace's IPO received an overwhelming response, with bids exceeding 174 times the shares on offer. The IPO, which includes a fresh issue and an offer-for-sale, is expected to list on the BSE and NSE.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Dec 26 (PTI) The initial public offer of Unimech Aerospace and Manufacturing Ltd received a whopping 174.93 times subscription on the last day of bidding on Thursday.
The Rs 500-crore initial share sale got bids for 82,28,93,040 shares against 47,04,028 shares on offer, as per NSE data.
Qualified Institutional Buyers (QIBs) garnered a mammoth 317.63 times subscription while the portion for non-institutional investors got subscribed 263.40 times. The category for Retail Individual Investors (RIIs) received 56.16 times subscription.
The IPO has a fresh issue of up to Rs 250 crore and an offer-for-sale (OFS) of up to Rs 250 crore.
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.
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