Uniparts India IPO: Uniparts India, a provider of engineering systems and solutions, is preparing to launch an IPO.
Uniparts India IPO: Uniparts India, a provider of engineering systems and solutions, is preparing to launch an IPO. The company has filed preliminary papers for the IPO with the market regulator SEBI. According to the DRHP (Draft Red Herring Prospectus) filed with SEBI (Securities Exchange Board of India), this issue is purely of Offer for Sale (OFS) i.e. through this issue the company will not issue any new shares and the promoters of the company Group entities and existing investors will sell their shares. According to the draft filed with SEBI, the promoter group entities and existing shareholders of the company will sell 1,57,31,942 equity shares under the OFS window.
Apply for IPO for the third time
This is not the first time that the company is preparing to bring an IPO. Uniparts India has already filed papers with SEBI twice before. Earlier, the company had filed prospectus with SEBI for IPO about four years ago in December 2018 and before that in September 2014. SEBI had also given approval to bring IPO but both the times the company did not move forward.
The company’s business is spread in more than 25 countries
Uniparts India is a global manufacturer of Engineered Systems and Solutions. It is a leading supplier of systems and components for the off-highway market in the Agriculture, Construction, Forestry and Mining (CFM) and aftermarket sectors. Its business is spread over more than 25 countries. Coming to its product portfolio, it sells 3-point linkage systems for agricultural machinery, precision machined parts for the mobile equipment market and construction market, power takeoffs. Apart from this, the company also sells machined forgings and fabrications for various agricultural applications. The company also sells hydraulic cylinders.