I sold a Bianchi-made Puch to a C&Ver here some years ago not an Ultima but a tic lower (Mistral) that had an SLX decal but the crowd here decided that was not true: actually was full SL.
Mine had a replacement chrome fork (Bottecchia) cause that's how I bought it, but no front-end damage, the seller had "upgraded" to a CF fork then lost the original...
Nice frame, very much a re-badged Bianchi. The GPM DOs used on these were the style with round ring and threaded hole in the "web".
I'll look for those pix just for grins...