Uniparts's Rs 836-Crore IPO (Public Offer) Opens Tomorrow
Engineered systems and solutions manufacturer Uniparts's initial public offer (IPO) will open for subscription on Wednesday.
Up to 14,481,942 equity shares of face value of Rs 10 each are on offer in the price range of Rs 548.00 - Rs 577. The IPO aims to raise Rs 835 crore at the upper limit of the price band.
The issue will be open for subscription till December 2.
It is an offer for sale, meaning the company will not receive the proceeds from the issue and it will go to the promoters and investors. Karan Soni, Meher Soni and Pamela Soni of Nevada Trust are the promoters offering the shares. Ashoka Investment Holdings Limited and Ambadevi Mauritius Holding Limited are the other promoters selling shares to the public.
Besides, a handful of individual shareholders in the company are offering shares through this IPO.
Retail investors can bid for a minimum of 25 equity shares and in multiples thereafter. The portion reserved for retail investors is 35 .
The maximum bid quantity for qualified institutional investors(QIB) is fixed at 14,481,925. Up to 50 per cent of the issue is available for allocation on a proportionate basis to QIBs .
Non-institutional investors can bid for a maximum of 7,240,950 shares.
Uniparts is a leading supplier of systems and components for the off-highway market in agriculture, construction forestry & mining (CFM).
Its product portfolio includes core product verticals of 3-point linkage systems and precision machined parts.
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