scorecardresearchUniparts India IPO: Issue subscribed 2.02 times on second day

Uniparts India IPO: Issue subscribed 2.02 times on second day

Updated: 01 Dec 2022, 06:12 PM IST
TL;DR.
  • The company received bids for 2,04,32,025 shares against 1,01,37,360 shares on offer, according to data from the BSE.
The price band for the offer has been determined at  <span class='webrupee'>₹</span>548 – 577 per equity share.

The price band for the offer has been determined at 548 – 577 per equity share.

Uniparts India's initial public offering (IPO), which opened for subscription on Wednesday, was subscribed 2.02 times on the second day.

The company received bids for 2,04,32,025 shares against 1,01,37,360 shares on offer, according to data from the BSE. The issue will close on Friday.

The non institutional investors' portion was subscribed 3.41 times, and the retail investors' portion was subscribed 2.01 times.

The portion set aside for qualified institutional buyers was subscribed 0.97 times.

The price band for the offer has been determined at 548 – 577 per equity share.

The promoters' pre-issue shareholding was at 75.54 percent, and post-issue shareholding will be 65.79 percent.

The issue is entirely an offer for sale of up to 14,481,942 equity shares, aggregating up to 836 crore.

The company has a leading market presence in global off-highway vehicles’ systems and components segments. 

On Tuesday, the global manufacturer of engineered systems and solutions garnered 250.68 crore from anchor investors ahead of its initial public offering.

Brokerages Anand Rathi Share and Stock Brokers Ltd, Marwadi Financial Services, ICICI Direct Research, Motilal Oswal Financial Services Ltd, Reliance Securities Ltd, Sushil Finance Consultants Ltd, Ventura Securities Ltd, Jainam Broking Ltd, and Geojit Financial Services Ltd recommend 'subscribe' rating for the issue.

 

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First Published: 01 Dec 2022, 06:12 PM IST