Uniparts India Ltd., which makes and supplies components for tractors and construction machinery, said the company aims to mobilise up to ₹836 crore through its initial public offering (IPO) opening on November 30.
The offer for sale (OFS) would constitute 32.09% of the post-offer paid-up equity share capital. The issue offer will close on December 2.
The price band has been fixed at ₹548 to ₹577 per equity share. Bids can be made for a minimum of 25 shares and in multiples of 25 shares thereafter. The company plans to grow inorganically through acquisitions and alliances.
In particular, Uniparts intends to explore opportunities in Europe, which would give it a manufacturing base in the continent, as well as opportunities in the United States to complement existing business.
It will also seek to expand international warehousing and distribution operations, based on demand and delivery logistics in various geographies, to fuel its growth going forward.
“We intend to continue our strategy to explore opportunities for forward integration, including selectively evaluating targets for strategic acquisitions and investments to strengthen our position as an integrated, full system solutions provider for the agriculture and CFM sectors,” Gurdeep Soni, Chairman & MD (CMD), Uniparts India said.
“We believe that we have been successful in acquiring and integrating overseas assets and ventures in the past and will continue to benefit from such initiatives, thereby expanding our product portfolio, market share, customer base and geographical footprint,” he added.
Uniparts intends to focus on acquiring businesses with high growth and performance potential, along with their existing customer relationships and product and process competencies.
Mr. Soni said the company would also evaluate any opportunistic acquisitions that are viable.
He said the “so-called recession” in the western markets would not have any impact on the company’s business.
