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The Initial Public Offer (IPO) of engineering systems and solutions provider Uniparts India was subscribed 25.32 times on the last day of subscription on Friday, December 2, 2022. The shares of the company are expected to list on the stock exchanges BSE and NSE next week on Monday, December 12, 2022. As per market observers, Uniparts India shares are available at a premium (GMP) of 45 in the grey market today.

Uniparts India IPO of up to 1,44,81,942 equity shares had a price range of 548-577 a share. Since the IPO was entirely an Offer for Sale (OFS), the company will not receive any proceeds from the public issue. Those offering shares in the OFS were 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.

The company raised 251 crore from anchor investors ahead of its initial share sale. It decided to allot 43.44 lakh equity shares to anchor investors at 577 apiece, aggregating the transaction size to 250.68 crore. Nomura, Morgan Stanley, BNP Paribas, HDFC Mutual Fund (MF), Aditya Birla Sun Life MF, Invesco MF, Mahindra MF, Carnelian Capital, Bajaj Allianz Life Insurance Company and Aditya Birla Sun Life Insurance Company are among the anchor investors.

The IPO received bids for 25,66,29,175 shares against 1,01,37,360 shares on offer, according to NSE data. The category meant for Qualified Institutional Buyers (QIBs) was subscribed 67.14 times, while the quota for non-institutional investors got 17.86 times subscription and the portion for Retail Individual Investors (RIIs) 4.61 times.

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.

It is a concept-to-supply player of precision products for off-highway vehicles with a 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.

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