Uniparts India IPO subscribed 58% on day 1

The initial public offer of Uniparts India limited began on Wednesday, November 30 for subscription. The company has fixed the IPO price at Rs 548 to Rs 577 per share. This is reportedly tenth issue of November.

At the end of day 1, the IPO was subscribed 58% with shares reserved for retail investors 77%, as per data showed on BSE. The NII category was subscribed 90%, however, QIB category has nil subscription by the end of the day.

Incorporated in 1994, the company is leading supplier of systems and components for the off-highway market in the agriculture and construction, forestry and mining ("CFM") and aftermarket sectors with the presence across over 25 countries. It has 5 manufacturing facilities located in Ludhiana, Vishakhapatnam and Noida.