| Unimech Aerospace and Manufacturing Ltd. Plans to launch its initial public offering at ₹745-₹785 per share to raise around ₹500 crore on Dec 23. The initial public offering of Unimech Aerospace and Manufacturing Ltd., as contemplated in the draft red-herring prospectus, incorporates a fresh issue of Rs 250 cr and offers for sale aggregating up to ₹250 crore. At the upper end of the price band, the company’s market valuation is estimated at ₹3,992 crore, according to NDTV calculations.
The OFS component includes the sale of equity shares worth up to ₹45 crore each by Ramakrishna Kamojhala, Mani P., and Rajanikanth Balaraman; ₹30 crore by Preetham S.V.; and ₹85 crore by Rasmi Anil Kumar from the promoter group.
The book running lead managers are Anand Rathi Advisors Ltd. and Equirus Capital Pvt. The KFin Technologies Ltd is registered as the registrar for this offer. The equity shares would be listed on Bombay Stock Exchange, and National Stock Exchange both.
Use of proceeds
The net proceeds that accrue from the issue are to be applied by it in the following ways:
– ₹32.5 crores for capital expenditure for procuring machinery and equipment.
– ₹25.2 crores for working capital requirements and investments in its material subsidiary.
– ₹43.9 crores for additional capital expenditure in expansion.
– ₹44.7 crores for working capital needs.
– ₹40 crores towards repayment or prepayment of borrowings and general corporate purposes.
