Uniparts India IPO to make stock market debut today; details here

Uniparts India will make its market debut today, 12 December. The stock will be listed on two major stock exchanges- the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The Uniparts India IPO was subscribed 25.32 times on the final day of subscription. The price band for the Uniparts India IPO, consisting of up to 1,44,81,942 equity shares, was between Rs 548 and Rs 577 per share. The company won’t be receiving any funds from the public offering because the Uniparts India IPO was solely an offer for sale (OFS). Promoter group entities The Meher Soni 2018 CG-NG Nevada Trust, Pamela Soni, The Karan Soni 2018 CG-NG Nevada Trust, investors Ashoka Investment Holdings Ltd and Ambadevi Mauritius Holding Ltd were among those who offloaded shares in the OFS. Prior to its initial share offering, the business raised funding of Rs 251 crore from anchor investors. It opted to distribute 43.44 lakh equity shares to anchor investors for Rs 577 per share, taking the overall transaction value to Rs 250.68 crore. The anchor investors include top companies such as Nomura, Morgan Stanley, BNP Paribas, Aditya Birla Sun Life MF, Invesco MF, Mahindra MF, Carnelian Capital, Bajaj Allianz Life Insurance Company, and Aditya Birla Sun Life Insurance Company. As per NSE data, the IPO garnered bids on 25,66,29,175 shares against the 1,01,37,360 shares that were offered. The stock for Qualified Institutional Buyers (QIBs) was subscribed 67.14 times. The non-institutional investor quota was subscribed 17.86 times, and the portion reserved for retail bidders was subscribed 4.61 times. Uniparts India is an international producer and supplier of engineered systems and solutions. Owing to its presence in more than 25 countries, it is considered one of the top suppliers of systems and components for the off-highway industry in agriculture and construction, forestry and mining, and aftermarket industries. The company’s product portfolio consists of basic product verticals such as 3-point linkage systems and machined components along with adjoining product verticals such as power take-off, fabrications, and hydraulic cylinders or their parts. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.