Unimech Aerospace & Manufacturing's Rs 500-crore IPO to open on December 23

Unimech Aerospace & Manufacturing' Rs 500-crore IPO to open on December 23

Unimech Aerospace & Manufacturing Limited initial public offer (IPO) will open for public subscription next week in the primary market.

The maiden share sale is scheduled to open on December 23 and the bidding for anchor investors will open for a day on December 20, according to the red herring prospectus (RHP). The bidding will conclude on December 26.

The Rs 500-crore share sale is a combination of a fresh issue of equity shares worth Rs 250 crore and an Offer for sale (OFS) by promoters Ramakrishna Kamojhala, Mani P, Rajanikanth Balaraman, Preetham S V and Rasmi Anil Kumar valued at Rs 250 crore.

Proceeds from the fresh issue will be used to fund capital expenditure for expansion through purchase of machineries and equipment, funding working capital requirements and for other general corporate purposes.

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The company is a key link in the global supply chain for global aerospace, semi-conductor and energy OEMs and their licensees for the supply of critical parts like aero tooling, ground support equipment, electro-mechanical sub-assemblies and other precision engineered components.

It's key clients include top global airframe and aero-engine OEMs and their approved licensees.

Anand Rathi Advisors Limited and Equirus Capital Private Limited are the book running lead managers to the issue.

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