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After sailing through on the first day of the bidding process, the initial public offering (IPO) of Unimech Aerospace, was subscribed by 9.08 times as on the second day, driven by robust demand from retail and non-institutional investors (NIIs).The issue attracted a subscription of 10.29 times by the retail investors and 12.06 times by the NIIs. Meanwhile, the qualified institutional buyers (QIBs) portion was subscribed by 4.64 times.The IPO is a combination of fresh equity sale worth Rs 250 crore and an offer for sale (OFS) of Rs 250 crore, taking the total size to Rs 500 crore. The proceeds from the IPO are earmarked for capital expenditures and working capital needs, enhancing its production capabilities and market reach.Unimech Aerospace IPO price bandThe company has fixed a price band of Rs 745-785 per share, where investors can bid for 19 shares in one lot and in multiples thereafter.What is the GMP of Unimech Aerospace IPO today?Unimech Aerospace had a grey market premium (GMP) of Rs 510 in the unlisted market, which indicates a premium of 64% over the issue price.Analyst review for Unimech Aerospace IPOAnalysts advised investors to subscribe to the issue as the company's focus on manufacturing critical components positions it favorably to meet increasing demand from global original equipment manufacturers (OEMs).Also Read: Tata Investment Corporation shares jump 8% on IPO news"Unimech Aerospace’s IPO presents an appealing opportunity for investors in the engineering and aerospace sectors, given its competitive valuation metrics and growth prospects," said Canara Bank Securities while assigning a subscribe rating.About Unimech Aerospace IPOUnimech is an engineering solutions company specializing in manufacturing and supplying 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 possesses “build to print” capabilities, wherein we manufacture products based on client designs, and “build to specifications” capabilities, wherein it assists clients in designing the products to be manufactured basis specifications. It also supplies high precision and critical components to major OEMs and their licensees worldwide.The company works with energy, defence and semiconductor OEMs (original equipment manufacturers) and has a presence in the US, Europe and the UK as an export-oriented company.For the year ending March 2024, the company's revenue from operations more than doubled to Rs 209 crore, while profit also rose over 100% to Rs 58 crore.Over the past two years, the company has demonstrated robust financial performance, with a compound annual growth rate (CAGR) of 140% in revenue, 220% in EBITDA, and 314% in PAT.Unimech Aerospace IPO: Opening Date, Allotment and Listing DateConcord Enviro Systems IPO opened up for public subscription on December 23 with the issue closing on December 26. Meanwhile, the allotment for the IPO is expected to be finalised on December 27 and the listing of shares will be on December 31.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Mumbai: Five initial public offerings (IPOs) - DAM Capital Advisors,Transrail Lighting, Sanathan Textiles, Concord Enviro Systems and Mamata Machinery- closed on Monday with strong response from investors.The ₹840-crore IPO of DAM Capital Advisors, priced at ₹269-283 per share was subscribed 82.08 times. The issue was entirely an OFS. The ₹839-crore Transrail Lighting issue, priced at ₹410-432 per share, received 80.8 times bids. The IPO consisted of a fresh equity issue worth ₹400 crore and OFS of 1.01 crore shares by promoter Ajanma Holdings.The ₹550-crore IPO of Sanathan Textiles, priced at ₹305-321 per share, was subscribed 35.12 times.116613323It comprised a fresh issue of Rs 400 crore and an OFS of Rs 150 crore. Concord Enviro Systems’ Rs 500- crore issue was subscribed 10.67 times on Monday. The issue consisted of a fresh issue of Rs 175 crore along with an offer for sale of Rs 325 crore. It was priced at Rs 665-701 per share. Mamata Machinery’s Rs 179 crore issue was subscribed 194.95 times. It was priced at Rs 230-243 per share.

Mumbai: India's equity indices bounced back on Monday, snapping their five-day losing run, as traders cut some of their bearish bets with the view that the markets were oversold. The Nifty, however, failed to breach the 200-day moving average (DMA) - a long-term trend indicator, suggesting that the undertone is still weak.The NSE Nifty gained 0.70%, or 165 points, to close at 23,753. The BSE Sensex advanced 0.64% or 498 points to close at 78,540."The markets were in oversold territory and the bounce-back today followed the rebound in global markets," said Vikas Jain, head of research at Reliance Securities. "If Nifty holds above the 23,550 levels, then it could be a sustainable up- move."Both indices declined over 3% in the last five trading sessions.If the Nifty crosses the 200-DMA at 23,850, traders could cover their short positions, pushing the markets higher, said Jain.116613304The Volatility Index or VIX - the market's fear gauge - plunged 10.3% to 13.52 on Monday, suggesting traders see lesser risks in the near term. But, it may be too early to confirm the uptrend, said some analysts.The rebound was a blip in the downward trend and not a sustainable up move, said Rohit Srivastava, founder, indiacharts.com."The gains came at the heels of the rebound in global markets on Friday but it is not a signal as the bond yield and dollar trends remain elevated and are likely to dictate macro trends," said Srivastava. Elsewhere in Asia, Hong Kong advanced 0.82%. Taiwan moved 2.64% higher while Indonesia and South Korea gained 1.61% and 1.57% respectively. China declined by 0.5%."The markets are expected to head lower to 23,000 level," said Srivastava. "On the higher side, it can move to around 24,000 level."Nifty Realty Index gained 1.47% on Monday while the FMCG Index moved 0.96% higher. Bank Nifty rose 1.1% while PSU Bank and Private Bank indices advanced 1.08% and 0.88%, respectively."Bank Nifty is holding its 200-day average at 50,500 level and could be at 52,000 levels post some short covering in banking stocks," said Jain.Foreign portfolio investors (FPIs) sold shares worth a net ₹168.71 crore on Monday. Their domestic counterparts bought shares worth ₹2,227 crore. So far in December, overseas investors have bought to the tune of ₹19,747 crore after selling shares worth ₹1.15 lakh crore in the last two months.Jain said that investors will take cues from the upcoming result season in mid-January followed by Donald Trump taking charge as the US President."As foreign investors are on holiday at the year end, no major selling is anticipated and markets are likely to remain in a 1,500-point range with 23,550 as the support level amid some time wise corrections," said Jain.Srivastava said that pharma and healthcare is the only sector that has been holding out in the last few days as it is a defensive play and could do well in the near term as well.The Midcap 150 index advanced 0.12% while the Smallcap 250 index ended 0.4% lower on Monday. Out of the 4,218 shares traded on the BSE, 1,636 advanced, while 2,452 declined.In the past week, the mid-cap and small-cap indices slumped over 3.5%.

The Cellular Operators Association of India, which counts Reliance Jio, Bharti Airtel and Vodafone Idea as its members, has said the telecom regulator's newly proposed quality of service (QoS) norms that mandate monthly and site-to-cell level reporting are burdensome.The industry body added that despite meeting Trai's stringent QoS benchmarks, telcos continue to face persistent challenges like right of way (RoW) issues, spectrum interference and infrastructure constraints, hindering timely network rollouts."The Telecommunications Act 2023 introduced critical RoW amendments for uniform state laws, but timely implementation is crucial, especially for 5G expansion," the COAI said.The industry body's views are part of a telecoms round-up for 2024 that underlines key challenges and also provides a sectoral roadmap for ringing in the next phase of growth.116608346The COAI said the telecom sector is a major contributor to GDP and providing employment to over 4 million people, directly and indirectly. But despite promising advancements, the industry faces several critical challenges, which can disrupt sustainable growth of the ecosystem, and accordingly, these need to be addressed on a priority basis, it added.Among the big challenges, COAI reiterated that over-the-top (OTT) players should be regulated and large traffic generators (LTGs) too must be mandated to contribute towards network infrastructure costs via a fair share mechanism to the universal service obligation fund (USOF), especially since the latter also offer the same set of services.According to COAI, the LTGs have strained telecom networks, compelling telcos to invest an additional ₹10,000 crore in infrastructure in 2023. "While TSPs bear these costs, LTGs, without contributing, amass multiple incomes through subscriptions, ads and data-driven marketing, with revenues largely outside India's tax ambit," COAI director general SP Kochhar said in an official statement.Likewise, Kochhar stressed that regulatory disparity with OTT players existed with regard to national security, user privacy and market fairness. "To address this, the government should enforce traceability and user privacy rules on all calling and messaging apps, as those platforms provide similar services using the internet network."The telecom operators have also reiterated their call for 6GHz band allocation for mobility services and bringing OTT platforms under spam regulations, saying these unregulated platforms serve as the hotbed for pesky communications.According to the COAI, as of October 2024, over 460,592 5G BTS sites were installed, leading to a surge in the 5G user base that is projected to reach 350 million by 2026. Fixed wireless access (FWA) services, it added, had emerged as a key 5G use case in India, with connections reaching nearly 3 million within a year of launch. Jio and Airtel, which have launched 5G services nationally, had 148 million and 105 million pure 5G users respectively in the quarter ended September 2024. Vi is yet to launch 5G services.