The offering is entirely an offer for sale (OFS) of up to 1,44,81,942 equity shares with a face value of Rs 10 each, totaling Rs 836 crore, by the promoters and existing shareholders.
The IPO will go on sale on Wednesday, November 30th, and will close on Friday, December 2nd. The finalization of share allocation is scheduled for December 7, 2022. The tentative date for the listing of Uniparts India shares is December 12, 2022. Investors can participate in the Uniparts India IPO by purchasing a lot of 25 shares or multiples thereof.
One lot of the IPO is worth Rs 14,425 at the upper end of the price band. A retail bidder can place a maximum bid of 13 lots or 325 shares. The retail quota in the Uniparts India IPO is set at 3594 percent of the net offer. The quota for qualified institutional buyers is set at 50 percent, while the quota for NII is set at 15 percent.
Through leveraging their global business model, which allows them to serve OEMs across multiple global locations efficiently, Uniparts is well positioned to benefit from increasing mechanization in the agriculture and CFM sectors, contributing to their increasing efforts to rationalize their supply chain and asset/working capital management, according to Axis Capital’s public issue note.
Shares in the OFS will be offered by promoters Karan Soni 2018 CG-NG Nevada Trust, Meher Soni 2018 CG-NG Nevada Trust, Pamela Soni, Ashoka Investment Holdings, and Ambadevi Mauritius Holding. Other shareholders selling their stake include Andrew Warren Code, James Norma Hallene, Kevin John Code, Dennis Francis DeDecker, and Melvin Keith Gibbs.
Due to the issue is an OFS, the entire proceeds will go to the selling shareholders, and the company will receive no proceeds from the issue.
About Uniparts India
Uniparts is a leading supplier of off-highway systems and components in the agriculture and construction, forestry and mining, and aftermarket sectors, with a presence in over 25 countries.
Its two factories are located in Ludhiana, Punjab, one in Visakhapatnam, Andhra Pradesh, and the other in Noida, Uttar Pradesh.
Meanwhile, Uniparts also marks its global presence and has a manufacturing, warehousing, and distribution facility in Eldridge, the United States.
The company is set to enter the market on December 12.
In the Fiscal years 2020, 2021, and 2022, as well as on June 30, 2022, revenue generated from the agriculture and CFM segments altogether constituted 95.74%, 96.07%, 95.35%, and 9513%, respectively, of total income from operations, Axis Capital told via a note.
