Unimech Aerospace and Manufacturing will be the last mainboard IPO to list on BSE and NSE on Dec. 31.
As curtains fall on 2024, three mainboard IPOs (Carraro India, Senores Pharmaceuticals, and Ventive Hospitality) hit Dalal Street today, following a round of stellar listings when five IPOs (Mamata Machinery, DAM Capital Advisors, Transrail Lighting, Concord Enviro Systems and Sanathan Textiles) listed on the bourses on Friday, Dec. 27.
Will we see another round of strong listing gains when Unimech Aerospace IPO hits the market tomorrow? Let’s find out what the GMP trends indicate as investors who were successfully allotted the shares of this company await the listing D-day.
Unimech Aerospace and Manufacturing IPO GMP
The grey market premium of Unimech Aerospace IPO was Rs 715 per share as of 8:31 a.m. on Monday, Dec. 30. This takes the estimated listing price—the sum of GMP and the upper end of the IPO price—to Rs 1500 per share, which suggests a potential listing day gain of 91.08% – according to the InvestorGain platform.
The GMP trends have shown an upward trajectory since the IPO price band was announced. The grey market premium of Unimech Aerospace IPO was Rs 510 when the issue opened for subscription and climbed to Rs 630 when the bidding concluded on Dec. 26. The grey market price has continued to soar since it closed for subscription indicating a strong listing day gains.
Shares of Unimech Aerospace and Manufacturing will be listed on the BSE and NSE on Tuesday, Dec. 31.
IPO price: Rs 785 per share at the upper end.
Unimech Aerospace and Manufacturing IPO
The Rs 500-crore mainboard issue was booked 175.31 times at the end of bidding on the final day on Thursday. Overall, investors placed bids for 82,46,73,568 shares against 47,04,028 shares on offer. The issue was booked 317.63 times by the qualified institutional buyers (QIBs), followed by non-institutional investors (NIIs), who subscribed to their category 263.78 times. Retail investors applied for 56.74 times of the portion reserved for them. Unimech Aerospace IPO received strong demand from the employees as well. The category was booked 97.81 times.
Shares of Unimech Aerospace and Manufacturing Ltd. will be listed on BSE and NSE on Dec. 31.
The company has proposed to use Rs 32.5 crore from the IPO proceeds to fund capital expenditure on the new machinery and equipment. Another Rs 25.2 crore will be used for working capital requirements and investment in its material subsidy.
Unimech Aerospace and Manufacturing Ltd. will allocate Rs 43.9 crore for capital expenditure for expansion through the purchase of machinery and equipment. Of the remaining funds, Rs 44.7 crore will go towards working capital and Rs 40 crore will be used for repayment or prepayment of borrowing and towards general corporate purposes.
IPO Listings Today
Carraro India, Senores Pharmaceuticals, and Ventive Hospitality were the three mainboard IPOs which debuted on the stock market today.
Shares of Carraro Ltd. debuted on the National Stock Exchange at Rs 651 apiece, at a discount of 7.53% over issue price of Rs 704. The stock listed on the BSE at Rs 660 per share, marking a discount of 6.25%.
Shares of Senores Pharmaceuticals Ltd. debuted on the National Stock Exchange at Rs 600 apiece, at a premium of 53.45% over issue price of Rs 391. The stock listed on the BSE at Rs 593.70 per share, marking a premium of 51.84%.
Shares of Blackstone-backed Ventive Hospitality Ltd. debuted on the BSE at Rs 718.15 per share, marking a premium of 11.7%, over the issue price of Rs 643 per share. The stock listed on the National Stock Exchange at Rs 716 apiece, at a premium of 11.3%.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
. Read more on IPOs by NDTV Profit.The grey market premium of Unimech Aerospace IPO was Rs 715 per share as of 8:31 a.m. on Monday, Dec. 30, indicating a potential listing day gain of 91.08%. Read MoreIPOs, Markets, Trending
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