Engineering systems and solutions provider Uniparts India today said it has set a price band of Rs 548-577 per share for its Rs 836 crore initial public offering (IPO).
The three-day initial share sale will open for public subscription on November 30 and end on December 2. Bidding for anchor investors will open on November 29, the company announced in a virtual press conference.
The IPO is an offer for sale (OFS) of up to 14,481,942 equity shares entirely by the promoter group entities and existing investors.
Among those offering shares in the OFS are promoter group entities – The Karan Soni 2018 CG-NG Nevada Trust, The Mehar Soni 2018 CG-NG Nevada Trust, Pamela Soni – and investors – Ashoka Investment Holdings Limited and Ambadevi Mauritius Holding Limited.
The public issue at the upper end of the price band is expected to fetch Rs 836 crore.
Since the IPO will be purely OFS, the company will not receive any proceeds from the public issue.
Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Investors can bid in 25 shares and multiples thereof.
This will be the company’s third attempt to go public. Earlier, Uniparts filed its IPO papers with SEBI in December 2018 and September 2014. It had also received regulatory approval to launch an IPO on two occasions, but did not proceed with the initial share sale.
Axis Capital, DAM Capital Advisors and JM Financial are the book running lead managers to the issue.
The shares of the company will be listed on the stock exchanges on December 12.
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 components thereof.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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