Unimech Aerospace, Manjushree Technopack file draft IPO papers with Sebi
Manjushree Technopack filed their respective DRHPs with capital markets regulator to raise funds through an IPO.
The IPO of Unimech is a combination of fresh equity issue of up to Rs 250 crore and an offer of sale (OFS) up to Rs 250 crore by promoter and promoter group selling shareholders.
Under the OFS, Ramakrishna Kamojhala, Rajanikanth Balaraman, Preetham S V and Rasmi Anil Kumar will offload part stakes.
The proceeds from the fresh issue will be used for funding of capital expenditure for expansion through purchase of machinery and equipment working capital requirements, investment in its material subsidiary, repayment of debt and general corporate purposes.
Unimech Aerospace has recently raised Rs 250 crore from investors including Steadview Capital Mauritius Ltd, ValueQuest and Evolvence in private placement financing.
Unimech Aerospace and Manufacturing offers “build to print” and “build to specifications” involving machining, fabrication, assembly, testing and creating new products basis the specific requirements of its clients.
Anand Rathi Advisors and Equirus Capital are the book-running lead managers to the issue and KFin Technologies is the registrar.
Meanwhile, the IPO of Manjushree Technopack is a mix of fresh issue of up to Rs 750 crore and an offer of sale up to Rs 2,250 crore by AI Lenarco Midco Limited.
The company, in consultation with the book-running lead managers, may consider a further issue of equity shares through a private placement of up to Rs 150 crores as pre-IPO placement,
