Engineering systems and solutions provider Uniparts India Ltd has filed preliminary filings with capital markets regulator Sebi to raise funds through an IPO.
Pursuant to the Red Herring draft prospectus (DRHP), the initial share sale is an entire offer to sell (OFS) of 15,731,942 shares by Promoter Group companies and existing investors.
Those offering shares in OFS are promoter group companies – 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 the Initial Public Offering would be fully OFS, the Company will not receive any proceeds from the public offering.
This would be the company’s third attempt at an IPO. Previously, Uniparts had submitted its IPO papers to Sebi (Securities Exchange Board of India) in December 2018 and September 2014. It also received regulatory approval to launch the IPO on both occasions, but didn’t complete the original stock sale.
Axis Capital, DAM Capital Advisors and JM Financial are the lead bookers of the offering.
Uniparts India is a global manufacturer of engineered systems and solutions. Due to its presence in over 25 countries, it is one of the leading suppliers of systems and components for the off-highway market in the areas of agriculture, construction, forestry and mining as well as the aftermarket.
It is a concept-to-supplier of precision off-highway vehicle products with a presence throughout the value chain. The Company’s product portfolio includes core product verticals of 3-point connection systems and precision machined parts, as well as adjacent product verticals of power take-offs, fabrications and hydraulic cylinders or components thereof.
(Only the headline and image of this report may have been edited by Business Standard contributors; the rest of the content is auto-generated from a syndicated feed.)
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