 "IPO, Initial Public Offer")
Uniparts India, manufacturer of engineering systems and solutions, has filed draft papers with markets regulator Securities and Exchange Board of India (Sebi) to float an initial public offering (IPO).
The share sale comprises fresh issuance of shares worth Rs 1 billion, besides an offer for sale of 13 million stocks by existing shareholders, according to the draft red herring prospectus (DRHP).
Funds raised through the issue will be utilised towards repayment of the outstanding loan facilities availed by the company and also for other general corporate purposes.
Axis Capital, Motilal Oswal Investment Advisors and SBI Capital Markets will manage the company’s public issue.
Uniparts
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