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Uniparts India IPO starting from November 30 will open exit door for Ashoka Investment and Ambadevi Mauritius

The IPO will see the sale of more than 1.44 crore shares by promoters and investors.

November 24, 2022 / 01:28 PM IST
IPO

IPO

Uniparts India, a manufacturer of engineered systems and solutions, is going to open its initial public offering (IPO) for subscription on November 30.

The offer will close on December 2. The anchor book if any will open for a day on November 29.

The company is expected to announce its IPO price band in coming days.

The IPO will see the sale of more than 1.44 crore shares by promoters and investors.

Promoters Karan Soni 2018 CG-NG Nevada Trust, Meher Soni 2018 CG-NG Nevada Trust, and Pamela Soni will be offering shares while Ashoka Investment Holdings and Ambadevi Mauritius Holding will be exiting the company by selling more than 93 lakh shares.

Uniparts India is a global manufacturer of engineered systems and solutions and claims to be one of the leading suppliers of systems and components for the off-highway market in the agriculture and construction, forestry and mining (CFM) and aftermarket sectors on account of its presence across more than 25 countries.

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It is a concept-to-supply player for precision products for off-highway vehicles with presence across the value chain.

Promoters Gurdeep Soni and Paramjit Singh Soni along with promoter group hold 75.54 percent shareholding in Uniparts, and the rest is held by investors Ashoka Investment Holdings and Ambadevi Mauritius Holding.

Axis Capital, DAM Capital Advisors, and JM Financial will act as merchant bankers for the issue.

This would be 10th offer getting launched in current month, after Dharmaj Crop Guard, Keystone Realtors, Inox Green Energy Services, Kaynes Technology India, Archean Chemical Industries, Five Star Business Finance, Global Health, Bikaji Foods International, and Fusion Micro Finance.
Sunil Shankar Matkar
first published: Nov 24, 2022 01:28 pm