According to the Draft Red Herring Prospectus, the initial share sale is entirely an OFS of 15,731,942 equity shares by promoter group entities and existing investors.
Engineering systems and solutions provider Uniparts India Ltd has filed preliminary papers with the capital markets regulator SEBI to raise funds through an IPO.
Since the IPO would be entirely an OFS, the organization will not receive any proceeds from the public issue.
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.
It also obtained the regulator’s clearance to launch the IPO on the two events but didn’t proceed with the initial share sale.
About Uniparts India
Uniparts Group is a leading international manufacturer of components, assemblies and hydraulic systems for agricultural and construction equipment.
Our customers include the leading OEM manufactures and since start of operation in 1984 the group has grown to a global and leading manufacturer of 3-point linkage systems and precision machined components and is operating out of 8 locations – 5 in India, 2 in USA and 1 in Germany.
Source: Money Control
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