Engineering systems and solutions provider Uniparts India Ltd has filed preliminary papers with the capital markets regulator Sebi to raise funds through an IPO.
According to the Draft Red Herring Prospectus (DRHP), the initial share sale is entirely an Offer for Sale (OFS) of 15,731,942 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 (Initial Public Offering) 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 (Securities Exchange Board of India) in December 2018 and in September 2014. It also obtained the regulator's clearance to launch the IPO on the two occasions but did not go ahead with the initial share sale.
Axis Capital, DAM Capital Advisors and JM Financial are the book running lead managers to the issue. 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 agriculture and construction, forestry and mining and aftermarket sectors on account of its presence across over 25 countries.
It is a concept-to-supply player of precision products for off-highway vehicles with presence across the value chain. 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.