Engineering systems and solutions provider Uniparts India today announced that it has set a price range of Rs 548-577 per share for its initial public offering (IPO) of Rs 836 crore.
The initial three-day share sale will open for public subscription on November 30 and close on December 2. The tender for principal investors will open on November 29, the company announced during a virtual press conference.
The IPO is entirely an offer for sale (OFS) of 14,481,942 shares by sponsor group entities and existing investors.
Those offering shares in the SFO are entities of the promoter group – The Karan Soni 2018 CG-NG Nevada Trust, The Meher Soni 2018 CG-NG Nevada Trust, Pamela Soni – and investors – Ashoka Investment Holdings Ltd and Ambadevi Mauritius holding ltd.
At the upper end of the price range, public issuance is expected to reach Rs 836 crore.
Since the IPO would be entirely an OFS, the company will not receive any proceeds from the public offering.
Half of the issue size was reserved for qualified institutional investors, 35% for retail investors and the remaining 15% for non-institutional investors.
Investors can bid for 25 shares and multiples thereof.
It would be the company’s third attempt to go public. Previously, Uniparts filed its IPO documents with Sebi in December 2018 and September 2014. It also obtained regulatory clearance to launch the IPO twice, but did not proceed to the initial sale of the shares.
Axis Capital, DAM Capital Advisors and JM Financial are the lead managers of the issue.
The company’s shares will be listed on the stock exchange on December 12.
Uniparts India is a global manufacturer of engineering systems and solutions. It is a leading supplier of systems and components for the off-road market in the agriculture and construction, forestry and mining and aftermarket sectors due to its presence in more than 25 countries. .
It is a player from the concept to the supply of precision products for all-terrain vehicles with a presence throughout the value chain. The Company’s product portfolio includes core vertical products of 3-point hitch systems and precision machined parts, as well as adjacent vertical products of power take-offs, fabrications and hydraulic cylinders or their components.
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Featured Video of the Day
Inflation below 7%, 1st time in 3 months