Unimech Aerospace and Manufacturing Ltd. mopped up nearly Rs 150 crore from anchor investors on Friday ahead of its initial public offering. The company issued 19 lakh shares to 18 investors at Rs 785 apiece, according to an exchange filing.
Out of the total allocation, 53.34% went to seven domestic mutual funds, which have applied through a total of 10 schemes. These include ICICI Prudential, Axis Mutual Fund, Motilal Oswal, Edelweiss Mutual Fund and Tata Mutual Fund.
Goldman Sachs secured a 9.95% portion of the anchor book for Rs 15 crore. HSBC, Natixis, Copthall Mauritius and Clarus Capital Group AG are other marquee foreign investors in the anchor round.
Anand Rathi Advisors Ltd. and Equirus Capital Pvt. are the book running lead managers for the deal.
About Unimech Aerospace IPO
Engineering solutions company Unimech Aerospace's IPO is scheduled to open on Dec. 23.
The price band for the IPO has been set in the range of Rs 745 to Rs 785 per share. The market value at the upper end of the price band is Rs 3,992 crore, as per NDTV Profit's calculations.
The proposed public offering consists of a fresh issue of Rs 250 crore and an offer-for-sale component of Rs 250 crore, according to the draft red herring prospectus. Net proceeds from the fresh issue will be deployed for capex, repayment of debt and working capital needs.
The Bengaluru-based firm is a leading manufacturer of complex tooling, mechanical assemblies, electro-mechanical turnkey systems, and precision components for clients in the aerospace, energy and semi-conductor industries. These components are used in aeroengine and airframe tooling for production, maintenance, repair and overhaul, and line maintenance activities.
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