• At the higher end of the price band, Uniparts India IPO is expected to fetch ₹836 crore
Engineering systems and solutions provider Uniparts India's ₹836 crore initial public offering (IPO) will open for public subscription on Wednesday, November 30, 2022 and close on Friday, December 2, 2022. Bidding for anchor investors will open on Tuesday, Nov. 29. The price band for its three-day initial share sale has been fixed in the range of ₹548-577 per share.
“Uniparts India is a manufacturer of engineering systems and solutions and a leading supplier of components to the off-highway market in agriculture and construction. International sales contributed to over 82% of sales in FY22. There has been a steady growth in revenue and margin over the last three financial years. At the upper band of the offer, the implied market cap is approx. Rupee. 2604 Crore and Calling P/E multiple of 15.28 times which looks quite reasonable as compared to its peers. “The secondary market being at an all-time high should help the issue get a good response,” said Abhay Doshi, co-founder of Unlisted Arena.
Uniparts India IPO is an Offer for Sale (OFS) of 14,481,942 equity shares entirely by Promoter Group Entities and existing investors. Since the IPO will be purely OFS, the company will not receive any proceeds from the public issue. At the upper end of the price band, the public issue is expected to fetch ₹836 crore.
As per market observers, Uniparts India shares are available at a premium (GMP) of ₹80 in the gray market today. The shares of the company are expected to be listed on the stock exchanges BSE and NSE on Monday, December 12, 2022.
Uniparts India Limited was incorporated on September 26, 1994 and is a global manufacturer of engineered systems and solutions. It is one of the leading suppliers of systems and components for the off-highway market in the agriculture and construction, forestry and mining and aftermarket sectors due to its presence in more than 25 countries.
It is a concept to supply precision products with presence across the value chain for off-highway vehicles. The company's product portfolio includes the core product verticals of 3-point linkage systems and precision machined parts as well as adjacent product verticals of power take off, fabrication and hydraulic cylinders or components thereof.
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