Unimech Aerospace Shares Soar Nearly 90 Pc On Market Debut
Date
12/31/2024 2:34:19 PM
(MENAFN- KNN India)
New Delhi, Dec 31 (KNN) Unimech Aerospace and manufacturing made an impressive stock market debut on Tuesday, with shares opening at Rs 1,491 on the Bombay stock exchange (BSE), marking a substantial 89.9 percent premium over its initial public offering (IPO) price of Rs 785.
The company's shares simultaneously listed on the National Stock Exchange (NSE) at Rs 1,460, representing an 86 percent premium.
The strong market performance exceeded analyst expectations, building upon pre-listing indicators from the grey market where shares were trading at Rs 1,410.
The successful debut transformed the IPO into a multibagger investment for successful allottees, delivering returns of nearly 90 percent on day one.
The company's Rs 500 crore IPO was structured as a balanced combination of fresh issue and offer for sale, each component amounting to Rs 250 crore with 3.2 million shares.
The issue price band was set between Rs 745 and Rs 785 per share, with a minimum lot size of 19 shares. Prior to its listing, the public offering had garnered robust investor interest across all subscription categories.
(KNN Bureau)
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