NE BUSINESS BUREAU
AHMEDABAD, NOV 29
Uniparts India Ltd, which makes and supplies components for tractors and construction machinery, said the company aims to mobilise up to ₹836 crore through its initial public offering (IPO) opening on November 30.
The maiden public issue will open up to 14,481,942 equity shares with a face value of ₹10 each for subscription on November 30, and the closing date will be December 2.
- Total 21 investors made an investment of Rs 250.68 crore in the company via anchor book
- The maiden public issue will open for subscription on November 30, and the closing date will be December 2.
- Bids can be made for a minimum of 25 shares and in multiples of 25 shares thereafter
The offer will constitute 32.09% of the post-offer paid-up equity share capital, and will close on December 02, 2022. The price band of the Offer has been fixed at ₹ 548 to ₹ 577 per equity dhare. Bids can be made for a minimum of 25 equity shares and in multiples of 25 thereafter.
A global manufacturer of engineered systems and solutions and one of the leading suppliers of systems and components for the off-highway market in the agriculture and construction, forestry and mining (CFM), and aftermarket sectors, the company counts Kubota, Bobcat, Yanmar, Claas Tractors, TAFE, Kobleco, Kramp, TSC, and more as its clients.
Notably, the proceeds of the IPO will go to respective shareholders and not the company. It is also to be noted here that this is Unipart’s third attempt at filing an IPO.
Commenting on this, Gurdeep Soni, Chairman & MD, Uniparts, said, “The bankers had advised us to back off from earlier IPOs as the markets were not conducive. The company is now hopeful that the market conditions and the world looking towards a China+1 strategy will help it perform better.”
Soni said, “Two of our large clients are looking to withdraw components manufacturing lines worth over $200 million out of China.”
The company had performed well without any interruption during the pandemic and maintained its global supply as agriculture like healthcare was declared as an essential service. Furthermore, ‘Make in India’ initiative has given us the advantage of low-cost production, added Soni.
With five manufacturing locations in India and one in the United States, the company’s revenue is driven by over 80% by overseas sales. Soni further added that the company will never do business in China.
The shares are proposed to be listed on the BSE Limited and the National Stock Exchange of India Limited.
Axis Capital Limited, DAM Capital Advisors Limited & JM Financial Limited are the Book Running Lead Managers to the Offer.
21 investors invest Rs 250.68 crore in the company via anchor book
Uniparts India on November 29 has raised Rs 250.68 crore via anchor book ahead of its initial public offering that opens tomorrow.
In a BSE filing, the company said it has finalised allocation of 43.44 lakh equity shares to anchor investors. These shares were allocated at Rs 577 per equity share.
Total 21 investors made an investment in the company via anchor book, which included Nomura Trust, HDFC Trustee Company, Aditya Birla Sun Life Trustee, Nippon Life India, Morgan Stanley, Carmignac Portfolio, Abakkus Emerging Opportunities Fund, Bajaj Allianz Life Insurance, BNP Paribas Arbitrage, Invesco India, Mahindra Manulife, Carnelian Capital, and ICG Q.
“Total five mutual funds have invested Rs 90.8 crore in Uniparts India by applying through a total of 9 schemes,” the company said.
