Uniparts India fixed price band for IPO, important information to know before investing

The company has informed that half of the issue has been reserved for institutional investors, 35 percent for retail investors and the remaining 15 percent for non-institutional investors. Investors can bid for at least 25 shares.

Uniparts India’s price band fixed

Engineering systems and solutions provider Uniparts India on Friday said it has IPO For this, a price band of Rs 548-577 per share has been fixed. The company plans to raise Rs 836 crore through an IPO. According to the information given by the company, the three-day issue will open for subscription on November 30 and investors can bid till December 2. Bidding for anchor investors will open on November 29.

The IPO is an offer for sale (OFS) of 14,481,942 equity shares entirely by the promoter and existing investors. Since the IPO will be purely OFS, the company will not receive any income from the public issue.

35 percent quota for retail investors

The company has informed that half of the issue has been reserved for institutional investors, 35 percent for retail investors and the remaining 15 percent for non-institutional investors. Investors can bid for 25 shares and multiples thereof. That is, the smallest application for investors will be Rs 14425. The public issue at the upper end of the price band is expected to fetch Rs 836 crore.

This will be the company’s third attempt at listing. Earlier, Uniparts had filed its IPO papers with SEBI in December 2018 and September 2014. It had also obtained regulatory approval to launch IPOs on two occasions, but the IPOs got shelved due to some reason. 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 12 December.

Business is spread in 25 countries

Uniparts India is a global manufacturer of engineered systems and solutions. It has its presence in more than 25 countries. It is one of the leading suppliers of systems and components in Agriculture & Construction, Forest & Mining and allied sectors.