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Engineering systems and solutions provider Uniparts India on Friday said it has set a price band of 548-577 a share for its 836-crore initial public offering (IPO). The three-day initial share sale will open for public subscription on November 30 and conclude on December 2. The bidding for anchor investors will open on November 29.

Uniparts India IPO is entirely an Offer for Sale (OFS) of 14,481,942 equity shares by promoter group entities and existing investors. Since the IPO would be entirely an OFS, the company will not receive any proceeds from the public issue. At the upper end of the price band, the public issue is expected to fetch 836 crore.

Currently, the promoters collectively hold 9,195,090 equity shares, representing 20.37% of the pre-offer issued, subscribed and paid-up equity share capital of the company. 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.

As per market observers, Uniparts India shares are available at a premium (GMP) of 130 in the grey market today. The shares of the company are expected to list on the stock exchanges BSE and NSE on Monday, December 12, 2022.

Uniparts India Limited was incorporated on September 26, 1994 and is a global manufacturer of engineered systems and solutions. It is one of the leading suppliers of systems and components for the off-highway market in agriculture and construction, forestry and mining and aftermarket sectors on account of its presence across over 25 countries.

It is a concept-to-supply player of precision products for off-highway vehicles with presence across the value chain. The company's product portfolio includes core product verticals of 3-point linkage systems and precision machined parts as well as adjacent product verticals of power take off, fabrications and hydraulic cylinders or components thereof.

Uniparts had an estimated 16.68% market share of the global 3PL market in Fiscal 2022 in terms of value and an estimated 5.92% market share in the global PMP market in the CFM sector in Fiscal 2022 in terms of value.

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