Uniparts India had earlier filed its IPO with Sebi in December 2018 and also in September 2014.(File)New Delhi: The Initial Public Offer (IPO) of engineered systems and solutions manufacturer Uniparts India was subscribed two times on the second day of subscription. The issue opened for subscription on November 30 and will close on December 2.The IPO offers up to 1,44,81,942 equity shares with a face value of Rs 10 each in the price range of ₹ 548.00 – ₹ 577. Aimed at raising 836 crores at the upper price of the price band, the IPO received bids for 2,04,29,925 shares against the 1,01,37,360 shares, according to Money Control.At the end of the second day, the non-institutional Retail Individual Investors (RIIs) category got subscribed two times, the non-institutional investors category witnessed 3.41 times subscriptions while the Qualified Institutional Buyers (QIBs) got 97% subscribed. The maximum bid quantity for QIB was fixed at 14,481,925 while Non-institutional investors can bid for a maximum of 7,240,950 shares.The company raised Rs 250 core from anchor investors on Tuesday. Currently, the shares are trading at a GMP (Grey Market Premium) of Rs 45.Uniparts’ IPO is an offer for sale, which means that the proceeds from the issue will not go to the company but to its promoters and investors. The promoters who are offering their shares include Karan Soni, Meher Soni, Nevada Trust’s Pamela Soni, Ashoka Investment Holdings Limited, and Ambadevi Mauritius Holding Limited.The company is a leading supplier of systems and components for the off-highway market in agriculture, construction forestry and mining (CFM). Uniparts India had earlier filed its IPO with Sebi in December 2018 and also in September 2014. While it had obtained clearance from the regulator on both occasions, it did not proceed with the initial share sale. Featured Video Of The DayHas Travel Industry Recovered From Covid Pandemic? EaseMyTrip Co-Founder Answers
Source link
Strange India 