Uniparts India Submits IPO Draft Papers with SEBI

Uniparts India Ltd, a provider of engineering systems and solutions, has filed preliminary papers with the capital markets regulator SEBIto acquire funds through an initial public offering (IPO). The inaugural share offer is fully an Offer for Sale (OFS) of 15,731,942 equity shares by promoter group firms and current investors, according to the Draft Red Herring Prospectus (DRHP).

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 — are among those selling shares in the OFS.

The company will not receive any proceeds from the public issue because the IPO (Initial Public Offering) will be entirely an OFS.

This would be the company’s third public offering effort. Uniparts had previously filed its initial public offering (IPO) papers with SEBI(Securities Exchange Board of India) in December 2018 and September 2014. On both instances, it received regulatory approval to launch the IPO but did not proceed with the initial share offering.

The issue’s book running lead managers are Axis Capital, DAM Capital Advisors, and JM Financial.

Uniparts India is a multinational engineering systems and solutions producer. Because of its presence in over 25 countries, it is one of the major suppliers of systems and components for the off-highway market in agriculture and construction, forestry and mining, and aftermarket.

It is a concept-to-supply player in off-highway vehicle precision products, having a presence across the value chain. The company’s product range comprises core verticals such as 3-point linkage systems and precision machined parts, as well as neighboring verticals such as power takeoff, fabrications, and hydraulic cylinders or components thereof.