Uniparts India files draft IPO papers with Sebi
Through this issue the company offers OFS of 15,731,942 equity shares of promoter group entities and existing investors
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New Delhi: Engineering systems and solutions provider Uniparts India Ltd has filed preliminary papers with the capital markets regulator Sebi to raise funds through an IPO.
According to the Draft Red Herring Prospectus (DRHP), the initial share sale is entirely an Offer for Sale (OFS) of 15,731,942 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. Since the IPO (Initial Public Offering) would be entirely an OFS, the company will not receive any proceeds from the public issue.
This would be the company's third attempt to go public. Earlier, Uniparts had filed its IPO papers with Sebi (Securities Exchange Board of India) in December 2018 and in September 2014. It also obtained the regulator's clearance to launch the IPO on the two occasions but did not go ahead with the initial share sale.
