The shares of Unimech Aerospace and Manufacturing made a glittering debut on the stock exchanges on the last day of the year – Tuesday, December 31, 2024 – when it began its journey on the bourses by listing at Rs 1,491 which against an issue price pf Rs 785 – marking a listing gain of 89.9%.
On NSE, Unimech Aerospace shares listed at the level of Rs 1,460, which indicated a premium of 85.99% — slightly less than that on BSE. Interestingly, the listing gains was slightly more than what the market expected.
Unimech Aerospace listing against market weakness
Significantly, the listing gains came against the backdrop of a drop in both the broad market indices Sensex and Nifty. Around 11 am on December 31, 2024, Sensex was at 77,809.03, down 439.10 points or 0.56%. On the other hand, Nifty was down at 23,535.10 points which marked a decline by 109.80 points or 0.46%.
That there was high investor expectation from Unimech Aerospace shares was evident when it was reflecting a GMP (Grey Market Premium) of Rs 625 (79.62%). Thus the listing gain of almost 90% took many investors (who were successful bidder at the IPO) by pleasant surprise.
The Unimech Aerospace IPO mopped up Rs 500 crore – an issue that had a fresh issue of 32 lakh shares and an offer for sale of equal numbers. Both segments raised Rs 250 crore each. The Unimech IPO price band was set at Rs 745-785 and the IPO stipulated a minimum lot of 19 shares. The IPO garnered an oversubscription of 175.31 times – a stupendous response by any yardstick. The IPO opened for bidding on December 23, 2024, and ended on December 26, 2024.
Unimech Aerospace share price registered a stellar debut on the stock market with the share listing at Rs 1,491 on the BSE, which marked a listing gain of 89.9% compared to the issue price of Rs 785. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
