Uniparts India IPO subscribed 2 times on the second day of offer

The Initial Public Offer (IPO) of engineering systems and solutions provider Uniparts India was subscribed 2 times on the second day of subscription on Thursday.

The Rs 836-crore IPO received bids for 2,04,29,925 shares against 1,01,37,360 shares on offer, according to NSE data.

The category for non-institutional investors was subscribed 3.41 times, the portion for Retail Individual Investors (RIIs) got 2 times subscription and the quota for Qualified Institutional Buyers (QIBs) attracted 97 per cent subscription.

The IPO is of up to 1,44,81,942 equity shares and has a price range of Rs 548-577 a share.

On Tuesday, Uniparts India said it has raised Rs 251 crore from anchor investors.

Since the IPO is entirely an Offer for Sale (OFS), the company will not receive any proceeds from the public issue.

Uniparts India is a global manufacturer of engineered systems and solutions. It is one of the leading suppliers of systems and components for the off-highway market in agriculture and construction, forestry and mining and aftermarket sectors on account of its presence across over 25 countries.

Axis Capital Limited, DAM Capital Advisors Limited and JM Financial are the managers to the offer.