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Uniparts India files draft IPO papers with markets regulator Sebi

Axis Capital, Motilal Oswal Investment Advisors and SBI Capital Markets will manage the company's public issue

Press Trust of India 

Representative Image (Photo: Shutterstock)
Representative Image (Photo: Shutterstock)

Uniparts India, manufacturer of engineering systems and solutions, has filed draft papers with regulator (Sebi) to float an initial public offering (IPO).

The share sale comprises fresh issuance of shares worth Rs 1 billion, besides an offer for sale of 13 million stocks by existing shareholders, according to the draft red herring prospectus (DRHP).

Funds raised through the issue will be utilised towards repayment of the outstanding loan facilities availed by the company and also for other

Axis Capital, and will manage the company’s public issue.

Uniparts is a manufacturer and supplier of engineering systems and solutions, and primarily caters to off-highway vehicles in agriculture, construction, forestry as well as the sector.

Earlier, Uniparts had filed initial papers with the regulator in September 2014 and also obtained the regulator’s clearance to launch the IPO, but did not go ahead with the initial share sale.

First Published: Fri, December 07 2018. 01:52 IST