• Since the Uniparts India IPO is a purely OFS, the company will not receive any proceeds from the issue
The initial public offer (IPO) of engineering systems and solutions provider Uniparts India was subscribed 58% on Wednesday, the first day of the offering. The issue closes on Friday, December 2, 2022 with a price band in the range of ₹548-577 per share. The engineering systems and solutions provider raised ₹251 crore from anchor investors ahead of its initial share sale.
According to market observers, Uniparts India shares are available at a premium (GMP) of ₹68 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 IPO is up to 14,481,942 equity shares. At the higher end of the price band, the IPO is expected to fetch ₹836 crore. Since the Offer is purely an Offer for Sale (OFS), the Company will not receive any proceeds from the Public Issue.
“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. ₹2,604 crore and call P/E multiple of 15.28x which looks quite reasonable 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 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.
No comments:
Post a Comment