Unimech Aerospace Ltd files draft papers with Sebi for Rs 500 cr IPO

Unimech Aerospace and Manufacturing Ltd has filed draft papers with capital markets regulator Sebi to float a Rs 500-crore initial public offering (IPO).

The Bengaluru-based company's IPO comprises fresh issue of equity shares worth Rs 250 crore and an offer of sale (OFS) of up to Rs 250 crore by promoter and the promoter group, as per the draft red herring prospectus (DRHP).

The offer also includes a reservation for a subscription by eligible employees.

Funds raised from the fresh issue to will be used for expansion through the purchase of machineries and equipment, funding working capital requirements, investment in its material subsidiary, payment of debt and general corporate purposes.

Unimech Aerospace is a high precision engineering solutions company specialising in complex manufacturing solutions for the aerospace, defence, energy, and semiconductor industries.

The company has recently raised Rs 250 crore from investors, including Steadview Capital Mauritius Ltd, ValueQuest