Despite a challenging stock market environment, Unimech Aerospace and Manufacturing’s IPO made a strong entrance.
The stock debuted at Rs 1460, significantly higher than its issue price of Rs 785, representing an 86% gain.
On its first day, the stock further surged to Rs 1485, delivering an impressive 90% return for investors.
Market Capitalization Reaches Rs 7,000 Crore
Unimech Aerospace’s IPO was listed on the Bombay Stock Exchange (BSE) at Rs 1491 and on the National Stock Exchange (NSE) at Rs 1460.
Following its robust start, the stock price settled at Rs 1365, still reflecting a 73.90% gain.
The company’s market capitalization now stands at Rs 7,000 crore, underlining its strong market value.
Exceptional Demand for the IPO
The IPO received an overwhelming response, with a subscription rate of 185 times.
Institutional investors subscribed 334 times, non-institutional investors 277 times, and retail investors 59.19 times.
Unimech Aerospace raised Rs 500 crore through this offering, split evenly between new shares and an offer for sale.
The IPO, open from December 23 to December 26, 2024, attracted applications worth Rs 64,601 crore, significantly exceeding the initial offering size.
Strong Financial Performance
Unimech Aerospace demonstrated robust financial growth. In the financial year 2022-23, the company reported a revenue of Rs 94.94 crore and a profit of Rs 22.81 crore.
By 2023-24, revenue more than doubled to Rs 213.79 crore, with profits rising to Rs 58.13 crore, showcasing strong business performance.
