New Delhi: Engineering systems and solutions provider Uniparts India has said that it has set a price band of Rs 548-577 a share for its Rs 836-crore initial public offering (IPO).
The three-day initial share sale will open for public subscription on November 30 and conclude on December 2. The bidding for anchor investors will open on November 29, the company announced in a virtual press conference.
The IPO is entirely an Offer for Sale (OFS) of 14,481,942 equity shares by promoter group entities and existing investors.
Those offering shares in the OFS are promoter group entities -- The Karan Soni 2018 CG-NG Nevada Trust, The Meher Soni 2018 CG-NG Nevada Trust, Pamela Soni — and investors — Ashoka Investment Holdings Ltd and Ambadevi Mauritius Holding Ltd.
At the upper end of the price band, the public issue is expected to fetch Rs 836 crore.
Since the IPO would be entirely an OFS, the company will not receive any proceeds from the public issue.
Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.