• Uniparts India IPO receives bids for 25,66,29,175 shares against 1,01,37,360 shares on offer
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 market observers, Uniparts India shares are available at a premium (GMP) of ₹60 in the gray market today.
The shares of the company are expected to get listed on the stock exchanges BSE and NSE next week on Monday, December 12, 2022. Meanwhile, the finalization of share allotment basis for Uniparts India IPO is expected to happen on Wednesday this week. December 7, 2022. LINK INTIME INDIA PRIVATE LIMITED is the Registrar to the Issue.
The initial share sale was for up to 1,44,81,942 equity shares and was priced at ₹548-577 per share. Since the initial share sale was an offer for sale (OFS), the company will not receive any proceeds from the public issue. Uniparts India said it raised ₹251 crore from anchor investors ahead of its offering.
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.
Uniparts had an estimated 16.68% market share of the global 3PL market in terms of value in FY 2022 and an estimated 5.92% market share of the global PMP market in the CFM sector in FY 2022 in terms of value.
Karan Soni 2018 CG-NG Nevada Trust, Mehar Soni 2018 CG-NG Nevada Trust, Pamela Soni, and investors Ashoka Investment Holdings Limited and Ambadevi Mauritius Holding Limited are the promoter group entities offering shares in the OFS.
In India, Uniparts has 5 manufacturing facilities, 2 in Ludhiana, 1 in Visakhapatnam and 2 in Noida. They have also set up a distribution facility in Noida. In the United States, they have a manufacturing, warehousing and distribution facility in Eldridge, Iowa, which was acquired in 2005 from Olsen Engineering LLC, now Uniparts Olsen Inc. and is a warehousing and distribution facility in Augusta, Georgia.
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