The ₹836-crore initial public offering of Uniparts India was subscribed 58 per cent at the end of Day 1 on Wednesday. The IPO, which opened on Wednesday for public, will end on December 2.
The price band is ₹548-577 a share, and the market lot is 25 shares. UIL has reserved 50 per cent for QIBs, 15 per cent for HNIs, and 35 per cent for retail investors. The portion set aside for retail investors and HNIs was subscribed 0.77 times and 0.90 times so far. QIBs are yet to make any bid.
On Tuesday, the company raised ₹251 crore by deciding to allot 43.44 lakh equity shares to anchor investors at ₹577 a share, as part of IPO process.
The anchor investors included Nomura Trust, HDFC Trustee Company, Aditya Birla Sun Life Trustee, Nippon Life India, Morgan Stanley, Carmignac Portfolio, Abakkus Emerging Opportunities Fund, Bajaj Allianz Life Insurance, BNP Paribas Arbitrage, Invesco India, Mahindra Manulife, Carnelian Capital, and ICG Q.
Early Santa Claus rally to continue on Powell’s “dovish” commentsDespite benchmarks in overbought zone, analysts warn traders not to short market
Uniparts is an India-based global manufacturer of engineered systems and solutions. The group supplies systems and components for the off-highway market and operates out of six manufacturing and three warehousing locations and one distribution centre across three continents, with its products reaching over 25 countries worldwide.
The joint Book Running Lead Managers (BRLMs) to the issue are Axis Capital Ltd., DAM Capital Advisors Ltd., and JM Financial Ltd., while Link Intime India Pvt. Ltd. is the registrar of the issue.
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.