Uniparts India IPO Subscribed 58% On Opening Day

Uniparts India Ltd., the manufacturer of systems and components for the off-highway market in agriculture, construction, forestry, and mining sectors, launched its initial public offering between Nov. 30 and Dec. 2.

The issue consists of an offer for sale of 1.44 crore shares by the promoter group and selling shareholders at a price band of Rs 548–577 apiece in the IPO. The size of the issue is Rs 835.60 crore.

The promoters and the promoter group will hold 67.10% of the post-offer issued and paid-up equity share capital. The offer for sale comprises 32.9% of the post-offer equity capital in the IPO.

• Duration: Nov. 30–Dec. 2.

• Offer for sale: 1.44 crore shares.

• Price band: Rs 548–577 per share.

• Issue size: offer for sale of Rs 835.10 crore.

• Face : Rs 10 apiece.

• Lot size: 26 shares and multiples.

• Listing on: BSE and NSE.

• Lead managers: Axis Capital and DAM Capital.

The IPO was subscribed 0.58 times, or 58%, as of 5:00 p.m. on Nov. 30.

• Institutional investors: Zero

• Non-institutional investors: 0.90 times

• Retail investors: 0.77 times

Investment Rationale, Future Strategies, Key Strengths, Risks, Financials: KRChoksey

Precision Component Player, Healthy Financial Profile: ICICI Direct