Unimech Aerospace IPO attracts strong demand with 83% subscription in hours

Unimech Aerospace's Initial Public Offering (IPO) opened today, December 23, 2024, with a total value of Rs 500 crore. The offering includes a fresh issue and an offer for sale, each worth Rs 250 crore. As of 11:00 AM, the IPO was 1.69 times subscribed, with retail investors leading at 2.61 times. The price range is set between Rs 745 and Rs 785 per share, with shares trading at a premium of Rs 480 in the grey market. The funds raised will support capital expenditures, working capital needs, and debt repayment. Unimech Aerospace, founded in 2016, specializes in manufacturing tools and systems for the aerospace industry.