Unimech Aerospace shares list at 90% premium over IPO price
The engineering solutions provider, Unimech Aerospace, is preparing to make its debut on Dalal Street on Tuesday, with its equity shares set to be listed on both the BSE and NSE. Prior to the listing, the company’s shares were trading with a Grey Market Premium (GMP) of Rs 675, indicating a strong bullish trend in the unlisted market.
With an upper price band of Rs 785 for Unimech Aerospace’s Initial Public Offering (IPO), investors are anticipating significant gains if the current trends persist. Based on the company’s latest GMP, the estimated listing price of its shares is projected to be Rs 1,460 each, representing an 86% premium over the IPO price of Rs 785 per share.
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It is important to recognize that Grey Market Premiums serve as indicators of how a company’s shares are performing in the unlisted market and can fluctuate rapidly. Unimech Aerospace’s IPO subscription period ran from December 23 to December 26, with the allotment finalized on December 28.
A notice from the BSE informed trading members that Unimech Aerospace and Manufacturing Limited’s equity shares will soon be listed and available for trading on the Exchange. The IPO price band for Unimech Aerospace was set at Rs 745 to Rs 785 per share, with the company raising Rs 500 crore through a book-built issue consisting of a fresh issue of 32 lakh equity shares valued at Rs 250 crore and an Offer for Sale (OFS) component of an equal number of shares worth Rs 250 crore.
Analysts have recommended that investors subscribe to the issue, citing Unimech Aerospace’s focus on manufacturing critical components as a key factor positioning the company favorably to meet the growing demand from global Original Equipment Manufacturers (OEMs).
Stay tuned for more updates and insights on the stock market! For more insights on investing in the Indian stock market, check out resources like Moneycontrol and NSE India.
Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.