Uniparts India IPO Subscribed 58 Pc, On Day 1 Of Offer

The initial public offer of engineering systems and solutions provider Uniparts India received 58 per cent subscription on the first day of the offering on Wednesday. The public offer received bids for 58,36,700 shares against 1,01,37,360 shares on offer, according to NSE data. Non-institutional Investors category was subscribed 90 per cent and Retail Individual Investors (RIIs) portion got 77 per cent subscription.

The Initial Public Offer (IPO) of up to 14,481,942 equity shares has a price range of Rs 548-577 a share. On Tuesday, Uniparts India said it has raised Rs 251 crore from anchor investors. At the upper end of the price band, the IPO is expected to fetch Rs 836 crore. Since the IPO is entirely an Offer for Sale (OFS), the company will not receive any proceeds from the public 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. Axis Capital, DAM Capital Advisors and JM Financial are managers to the offer.

(PTI)