• Uniparts India launched an IPO of ₹836 crore from 30 November to 2 December. The IPO was oversubscribed 25.32 times on the last day of the issue. The company had set a price band of ₹548 per equity share and ₹577 per equity share for the IPO.
Uniparts India witnessed a weak listing on Monday tracking a broadly subdued market sentiment. The stock opened at a slight discount to the IPO's upper price band on the BSE and NSE exchanges. There was strong demand for Uniparts shares in the IPO that opened from 30 November to 2 December.
On both BSE and NSE, Uniparts is listed at ₹575 per equity share - which is at a discount of ₹2 or 0.35% from the IPO's upper price band of ₹577 per share.
On the BSE, at around 10.12 am, the stock was trading at ₹552.20, down ₹22.80 or 3.97% from the listing price. However, the stock fell 4.30% from the IPO price band. The market valuation of the company is currently around ₹2,477 crore.
The Equity Shares of Uniparts India are listed and admitted for trading on BSE in 'B' group securities.
Meanwhile, on the NSE, the stock was trading at ₹548.05, down 5.02% from the IPO price band.
What should investors do?
Talking about the Uniparts listing, Santosh Meena, Head of Research, Swastika Investmart, said: “The issue was well received by investors from both institutional and retail side. The company's major business sectors are agriculture, construction, forestry and after-market. The company has a leading market presence, a global business model and long-term relationships with key customers."
Furthermore, the head of research at Swastik highlighted that Uniparts also enjoys a healthy financial position with consistent growth in revenue and profit and improving margins. "For risk factors, the issue is an outright offer for sale. However, the issue is attractively priced at a P/E valuation of 15.61, which is lower than its listed counterparts."
Therefore, Meena said, "Allottees applying for the public offer for a listing premium are advised to maintain their stop loss at 535."
Uniparts India IPO Details:
Uniparts India launched its ₹836 crore IPO from 30 November to 2 December. The IPO was oversubscribed 25.32 times. Qualified Institutional Buyers (QIBs) showed strong demand for the IPO, as the portion reserved for this category was subscribed 67.14 times, while the Non-Institutional Investors (NII) category was subscribed 17.86 times. Meanwhile, the category of retail investors saw subscription of 4.63 times against their offered size.
The company had set a price band of ₹548 per equity share and ₹577 per equity share for the IPO.
Uniparts is a global manufacturer of engineered systems and solutions and one of the leading suppliers of systems and components to the off-highway market in the agriculture and construction, forestry and mining and aftermarket sectors due to our presence in more than 25 countries. The company has a leading presence in manufacturing 3PL and PMP products globally.
In the financial year ending March 31, 2022 (FY22), the company had an estimated 16.68% market share of the global 3PL market in value terms and an estimated 5.92% market share of the global PMP market in the CFM sector. value.
Currently, the company has six manufacturing facilities - five in India and one in the United States.
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