Uniparts India IPO receives 25.32 times subscription on last day of offer

The Initial Public Offer (IPO) of engineering systems and solutions provider Uniparts India was subscribed 25.32 times on the last day of subscription on Friday.
 

The IPO received bids for 25,66,29,175 shares against 1,01,37,360 shares on offer, according to NSE data.
 

The category meant for Qualified Institutional Buyers (QIBs) was subscribed 67.14 times, while the quota for non-institutional investors got 17.86 times subscription and the portion for Retail Individual Investors (RIIs) 4.61 times.
 

The IPO of up to 1,44,81,942 equity shares had 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, DAM Capital Advisors and JM Financial were the managers to the offer.