Uniparts India IPO subscribed 22.70 times on the final day of offer

Uniparts India Limited is a leading supplier of systems and components for the off-highway market in the agriculture and construction, forestry and mining and aftermarket sectors. The company had launched its IPO on November 30 with an issue size of Rs 836 crore.

By 3.30 PM, the offer has seen bid of 59.36 times in the QIB category, while the category reserved for high networth individuals (HNIs) received 17.04 times subscription. The quota reserved for retail buyers was subscribed 4.18 times.

The company will not receive any proceeds from the IPO as the issue is entirely an offer for sale. Investors Ashoka Investment Holdings and Ambadevi Mauritius Holding will exit the company by selling their entire shareholding of 71.8 lakh shares and 21.54 lakh shares, respectively, via public issue. The promoters' shareholding will drop below 66 percent post issue.