Uniparts India’s IPO (Public Offer) will be launched on November 30


This would be the company’s third attempt to go public. (File)

New Delhi:

The initial share sale of engineering systems and solutions provider Uniparts India will open for public subscription on November 30.

The three-day initial public offering (IPO) closes on December 2.

Bidding for anchor investors will begin on Nov. 29, according to the red herring prospectus (RHP).

The IPO is entirely an Offer for Sale (OFS) of 14,481,942 shares by promoter group entities and existing investors.

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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 would be an entirely OFS, the company will receive no proceeds from the public offering. This would be the company’s third attempt to go public.

Previously, Uniparts had filed its IPO papers with Sebi in December 2018 and September 2014. It also got the regulatory approval to launch the IPO on the two occasions but did not go through with it.

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Axis Capital, DAM Capital Advisors and JM Financial are the issue’s lead managers. Uniparts India is a global manufacturer of engineering systems and solutions.

It is one of the leading suppliers of systems and components for the off-highway market in the agriculture and construction, forestry and mining and aftermarket sectors due to its presence in 25 countries.

The company’s product portfolio includes vertical product segments of 3-point lift systems and precision machined parts, as well as adjacent vertical product segments of power take-offs, structures and hydraulic cylinders or components thereof

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