Uniparts India’s IPO (Public Offer) To Launch On November 30


Uniparts India's IPO (Public Offer) To Launch On November 30

This would be the company’s third attempt to go public. (File)

New Delhi:

The initial share-sale of engineering systems and solutions provider Uniparts India will open for public subscription on November 30.

The three-day initial public offering (IPO) will conclude on December 2.

The bidding for anchor investors will open on November 29, according to the red herring prospectus (RHP).

The IPO is entirely an Offer for Sale (OFS) of 14,481,942 equity shares by promoter group entities and existing investors.

Those offering shares in the OFS are promoter group entities The Karan Soni 2018 CG-NG Nevada Trust, The Meher Soni 2018 CG-NG Nevada Trust, Pamela Soni, and investors Ashoka Investment Holdings Ltd and Ambadevi Mauritius Holding Ltd.

Since the IPO would be entirely an OFS, the company will not receive any proceeds from the public issue. This would be the company’s third attempt to go public.

Earlier, Uniparts had filed its IPO papers with Sebi in December 2018 and September 2014. It also obtained the regulator’s clearance to launch the IPO on the two occasions but did not go ahead with it.

Axis Capital, DAM Capital Advisors and JM Financial are the book running lead managers to the issue. Uniparts India is a global manufacturer of engineering systems and solutions.

It is one of the leading suppliers of systems and components for the off-highway market in agriculture and construction, forestry and mining and aftermarket sectors on account of its presence across 25 countries.

The company’s product portfolio includes core product verticals of 3-point linkage systems and precision machined parts as well as adjacent product verticals of power take-off, fabrications 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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