Today is the last day to subscribe to the Unimech Aerospace and Manufacturing public issue, which has been subscribed nine times so far.

The initial public offering of the engineering solutions company that opened on Monday, targeting ₹500 crore, comes out with a price band of ₹745-785. The market lot is 19 shares.

The IPO comprised ₹250 crore worth of fresh issue and an equal amount of offer-for-sale by promoters and selling shareholders. Among the sellers are ₹45 crore worth of shares by Ramakrishna Kamojhala, up to ₹45 crore by Mani P, up to ₹45 crore by Rajanikanth Balaraman, and up to ₹30 crore by Preetham S V. Rasmi Anil Kumar, the promoter group, will offload stocks worth ₹85 crore.

• Read: Unimech Aerospace and Manufacturing: Should you subscribe to the IPO?

The issue received bids of 4.27 crore shares against the offered 47.04 lakh shares. The retail and HNI portions were subscribed 10.30 times and 12.07 times, respectively, whereas the Qualified Institutional Buyer quota was subscribed 4.64 times. The Employee Portion was subscribed 6.48 times. The issue will close on Thursday. The employee quota (20,134 shares) received bids for 15.56 times.

A day before the opening of the issue, Unimech Aerospace and Manufacturing Ltd raised ₹149.55 crore from anchor investors. 

Foreign and Domestic Institutions who participated in the anchor included Goldman Sachs India Equity Portfolio, ICICI Prudential Transportation and Logistics Fund, Tata India Innovation Fund, Motilal Oswal, Edelweiss Trusteeship, Ashoka India Investment Fund, Abakkus Diversified Alpha Fund-2, VQ Fastercap Fund HSBC Flexi Cap, Copthall Mauritius, Clarus Capital etc.

• Read more: Why IPOs don’t make you rich 

Leading brokerage firms like Nirmal Bang, Anand Rathi, SBI Securities, KR Choksey, Ajcon Global, Arihant Capital, BP Wealth, StoxBox, Eureka Securities, GEPL Capital, Canara Bank Securities, Reliance Sercurities, Marwadi Financial Services, Master Trust Capital, SMIFS, Swastika Investmart, IndSec Securities, and Ventura Securities, have given a “Subscribe” rating to the issue highlighting the company’s strong financial performance, including a 140% revenue CAGR (FY22-FY24), robust margins, and reasonable valuation at a P/E of 51.6x to 69x. 

The company’s niche focus on aerospace and defence, export-driven model, and planned capacity expansions position it well for growth in high-potential sectors like semiconductors and renewable energy, making it a promising long-term investment.

Four Bridge Capital has assisted Unimech Aerospace and Manufacturing Ltd. on its IPO, and FBC has supported it throughout the process.

Anand Rathi Advisors Limited, and Equirus Capital Private Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the issue.

Incorporated in the year 2016, Unimech Aerospace and Manufacturing Limited is an engineering solutions company specializing in manufacturing and supply of critical parts such as aero tooling, ground support equipment, electro-mechanical sub-assemblies and other precision engineered components for aerospace, defence, energy, and semiconductor industries.

The company possess “build to print” and “build to specifications” capabilities and supplies high-precision and critical components to major OEMs and their licensees worldwide.

Unimech’s product range includes engine lifting and balancing beams, assembly, disassembly, and calibration tooling, ground support equipment, airframe assembly platforms, engine transportation stands, mechanical and electro-mechanical turnkey systems, and precision components.