• Uniparts India IPO of 1,44,81,942 equity shares was priced in the range of ₹548-577 per share
The initial public offer (IPO) of engineering systems and solutions provider Uniparts India was subscribed 25.32 times on the last day of subscription on Friday, December 2, 2022. The issue received bids for 25,66,29,175 shares against the quota of 1,01,37,360. Shares on offer as per NSE data.
The category meant for Qualified Institutional Buyers (QIBs) was subscribed 67.14 times, while the quota for non-institutional investors was subscribed 17.86 times and the retail individual investors (RII) portion was subscribed 4.61 times.
According to market observers, Uniparts India shares are available at a premium (GMP) of ₹72 in the gray market today. The shares of the company are expected to be listed on BSE and NSE on Monday, December 12, 2022. Meanwhile, the process of finalizing the basis of share allotment is expected to take place next week on Wednesday, December 7, 2022. Link Intime India Private Limited is the Registrar to the Issue.
The Uniparts India IPO was held for up to 1,44,81,942 equity shares and had a price range of ₹548-577 per share. On Tuesday, Uniparts India said it has raised ₹251 crore from anchor investors. Since the initial share sale was an offer for sale (OFS), the company will not receive any proceeds from the public issue.
The company decided to allot 43.44 lakh equity shares to anchor investors at ₹577 per share, taking the transaction size to ₹251 crore. Nomura, Morgan Stanley, BNP Paribas, HDFC Mutual Fund (MF), Aditya Birla Sun Life MF, Invesco MF, Mahindra MF, Carnelian Capital, Bajaj Allianz Life Insurance Company and Aditya Birla Sun Life Insurance Company are among the anchor investors.
Uniparts India 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 parts thereof.
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