New Delhi-based Uniparts India's initial public offering (IPO), which opened for subscription on Wednesday, was subscribed 0.58 times or 58 percent on the first day.
The company received bids for 58,36,700 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 0.90 times, and the retail investors' portion was subscribed 0.77 times.
The portion set aside for qualified institutional buyers was nil.
On Tuesday, the global manufacturer of engineered systems and solutions garnered ₹250.68 crore from anchor investors ahead of its initial public offering.
The company informed the bourses that it allocated 4,344,582 shares at ₹577 per share to anchor investors.
The price band for the offer has been determined at ₹548 – 577 per equity share.
The promoters pre-issue shareholdings was at 75.54 percent, and post-issue shareholdings will be 65.79 percent.
The issues 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. The issue will close on December 2.