Home / Markets / Ipo /  Uniparts India IPO: Latest GMP on the last day of subscription

The Initial Public Offer (IPO) of engineering systems and solutions provider Uniparts India was subscribed 23 times so far on the last day of the subscription on Friday. The issue opened for public subscription on Wednesday and concludes on December 2, 2022.

As of 3:40 pm on the last day, the issue has been overall subscribed 23 times with retail investors category booked 4.22x, NIIs 17.3x, and QIBs 66.8x, BSE data showed.

The price band has been fixed in the range of   548-577 a share. The company raised 251 crore from the anchor investors ahead of its initial share sale.

As per market observers, Uniparts India shares are available at a premium (GMP) of 45 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 IPO is entirely an Offer for Sale (OFS) of 14,481,942 equity shares by promoter group entities and existing investors. Since it is entirely an OFS, the company will not receive any proceeds from the public issue. 

Uniparts India 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.

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.

“There are no comparable peers having product profile and business model similar to UIL. The above peers are considered only for benchmarking the demanded valuations. At higher price band, the company is demanding an EV/sales multiple of 2.2x (to its FY22 sales), which seems to be in-line to the peer average. Nevertheless, UIL has better profitability and return ratios compared to the peer average. However considering the global policy tailwinds, we feel the company has adequate levers to expand its business at higher rates. Thus, we assign a “SUBSCRIBE" rating for the issue," said Choice Broking.

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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