Engineering systems provider Uniparts India files draft IPO papers with SEBI
- ByStartupStory | April 28, 2022
Engineering systems and solutions provider giant Uniparts India Ltd has filed preliminary papers with Sebi(Securities Exchange Board of India) to raise funds through an Initial Public Offering/IPO. According to the Draft Red Herring Prospectus, the initial share sale is entirely an Offer for Sale of 15,731,942 equity shares by existing investors and promoter group entities.
The promoter group entities are The Meher Soni 2018 CG-NG Nevada Trust, The Karan Soni 2018 CG-NG Nevada Trust, and Pamela Soni. The investors include Ambadevi Mauritius Holding Ltd and Ashoka Investment Holdings Ltd. Since the IPO would be entirely an Offer for Sale, the engineering systems provider will not be receiving any proceeds from the public issue.
This would also be Uniparts India’s third attempt to go public. Earlier, Uniparts had filed its IPO papers with Sebi in December 2018 and in September 2014. The company also obtained the regulator’s clearance to launch the IPO on both the occasions but did not go ahead with the initial share sale.
DAM Capital Advisors, JM Financial, and Axis Capital are the book-running lead managers to the issue. Uniparts India is a leading global manufacturer of engineered systems and solutions.
It is also one of the leading suppliers of systems and components for the off-highway market in forestry, mining, agriculture, construction, and aftermarket sectors on account of its presence across over 25 different countries.
Uniparts’ product portfolio includes core product verticals of 3-point linkage systems and precision machined parts along with adjacent product verticals of power take-off, fabrications, and hydraulic cylinders.
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