NEW DELHI: Shares of Unimech Aerospace and Manufacturing Ltd on Tuesday made a strong debut on the stock exchange with an impressive 90 per cent premium above its Rs 785 issue price. The shares began trading at Rs 1,491 on the BSE, marking an 89.93 per cent increase from the issue price while on the NSE, trading began at Rs 1,460, up by 85.98 per cent.
The company achieved a market capitalisation of Rs 6,956.20 crore upon listing. Its initial public offer received robust investors response, being oversubscribed 174.93 times when bidding closed on Thursday.
The Rs 500-crore public offering comprised a fresh issue worth Rs 250 crore and an Offer-for-Sale (OFS) component of Rs 250 crore. The company had set the share price band at Rs 745-785.
Unimech Aerospace operates as a high-precision engineering solutions provider, delivering sophisticated manufacturing solutions across aerospace, defence, energy and semiconductor sectors.
