HomeLifestyleIPO News: Price band fixed for Uniparts India IPO, issue will open...

IPO News: Price band fixed for Uniparts India IPO, issue will open next week

New Delhi. Investors are going to get another chance to earn in the stock market next week. Next week, Uniparts India, a company providing engineering systems and solutions, is coming up with its Initial Public Offering (IPO). Its opening will be on 30 November, while the closing is on 2 December.

Anchor investors will be able to bid for shares on November 29
Engineering systems and solutions provider Uniparts India has fixed a price band of Rs 548-577 per share for its Rs 836 crore IPO. The company said on Friday that the 3-day issue will open for subscription on November 30 and will close on December 2. Anchor investors will be able to bid for the shares on 29 November.

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The company will not receive any proceeds from the public issue
According to news agency PTI, the IPO is entirely based on Offer for Sale (OFS) of 14,481,942 shares by promoters and existing investors. The company will not receive any income from the public issue.

Uniparts had also submitted documents to SEBI in 2018 and 2014
Uniparts had earlier submitted preliminary documents of the IPO to the market regulator Securities and Exchange Board of India (SEBI) in December 2018 and September 2014, for which it had also received approval but did not come out with the IPO.

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About Uniparts India
It is a global manufacturer of engineering systems and solutions. The company has its presence in 25 countries across the world. It is one of the leading suppliers of systems and components to the off-highway market in the agriculture and construction, forestry and mining and aftermarket sectors.

Tags: business news in hindi, IPO, share market

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