The Initial Public Offering (IPO) of Uniparts India is going to open for public subscription today, 30 November. The firm has set the IPO’s price band from Rs 548 to Rs 577 per share. The public issue will end on 2 December. Qualified institutional investors will have 50 per cent of the Uniparts India IPO set aside for them, while 35 per cent has been reserved for retail bidders. The remaining 15 per cent has been kept for non-institutional investors. The company’s IPO is completely an Offer for Sale (OFS) amounting to 14,481,942 shares by existing investors and promoter group entities. At the upper end of the price band, this will amount to Rs 836 crore. Investors can bid for a minimum of 25 shares.
Uniparts India will not get any proceeds from the public issue as it is entirely an OFS. The book-running lead managers to the issue are DAM Capital Advisors, Axis Capital, and JM Financial. The shares are expected to be listed on 12 December.
Promoter group entities, namely The Meher Soni 2018 CG-NG Nevada Trust, Pamela Soni, and The Karan Soni 2018 CG-NG Nevada Trust, as well as investors Ambadevi Mauritius Holding Ltd and Ashoka Investment Holdings Ltd are offloading shares in the OFS.
This is going to be the third attempt of this company to go public. Uniparts had filed its IPO papers before with the Securities and Exchange Board of India (SEBI) in 2014 and 2018 previously. It had also received the regulator’s clearance for floating the IPO on two occasions but did not continue with the initial share sale. Presently, the promoters hold 9,195,090 shares of the company collectively.
Uniparts India manufactures engineering systems and solutions globally. The company is among the leading suppliers of components and systems for the off-highway market in the construction and agriculture forestry, mining, and aftermarket sectors.
Uniparts India’s clientele included over 125 customers in over 25 countries in the fiscal year 2022. In terms of value, the company reported an estimated market share of 16.68 per cent of the global 3PL market in FY 2022. The company has five manufacturing facilities in India, with one at Visakhapatnam and two each at Noida and Ludhiana.