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Uniparts India Limited plans to raise Rs 835.61 crore through an initial public offering. The subscription for the IPO will open on November 30 and close on December 2. The price band is fixed at Rs 548 – 577 per share.
The IPO comprises of only Offer For Sale of about 1.44 crore shares worth Rs 835.61 crore. The face value has been set at Rs 10 per equity share.
Company Summary
Uniparts India Limited is a manufacturer of engineered systems and solutions. The company is one of the leading suppliers of systems and components for the off-highway market in the agriculture and construction, forestry and mining as well as aftermarket sectors. The company has a presence across over 25 countries, according to its red herring prospectus.
Uniparts India is a concept-to-supply player for precision products for off-highway vehicles with presence across the value chain. Their product portfolio includes core product verticals of 3-point linkage systems (3PL), precision machined parts (PMP), adjacent product verticals of power take off (PTO), fabrications and hydraulic cylinders or components.
The company had an estimated 16.68% market share of the global 3PL market in fiscal 2022 in value terms and an estimated 5.92% market share in the global PMP market in the CFM sector in fiscal 2022 in terms of value. The company provides replacement of 3PL parts to organized aftermarket retailers and distributors present in North America, Europe, South Africa and Australia.
Some of the key clients of Uniparts are Tractors and Farm Equipment Limited (TAFE), Doosan Bobcat North America (Bobcat), Claas Agricultural Machinery Private Limited (Claas Tractors), Yanmar Global Expert (Yanmar) and LS Mtron. The company also services several organised aftermarket players and large farm and fleet retail store chains in Europe and the US, such as Kramp Groep and Tractor Supply Company (TSC). In Fiscal 2022, the company’s customer base stood at 125 customers in over 25 countries.
Uniparts India have five manufacturing facilities, two at Ludhiana, Punjab, one at Visakhapatnam, Andhra Pradesh, and two at Noida, Uttar Pradesh. The company also set up a distribution facility in Noida. In the US, Uniparts have a manufacturing, warehousing and distribution facility at Eldridge, Iowa.
According to its red herring prospectus, USA (48.94%), Europe (22.895) and India (14.12%) account for 85.95% of the total revenue from operations in the first quarter of FY23.
Company Strengths
- Leading market player in off-highway vehicle systems and components segment.
- Engineering driven and vertically integrated precision solutions provider
- Well-established business model optimizing cost-competitiveness and customer supply chain risks.
- Long-term relationships with key global customers, including major OEMs, resulting in a diversified revenue base.
- Strategically located manufacturing and warehousing facilities that offer scalability and flexibility.
- Healthy financial position with continued improvement in operational performance metrics.
- Experienced promoters and qualified senior management team.
Company Financials
Period Ended | 3MFY23 | FY22 | FY21 | FY20 |
Total Assets | 1,063.51 | 1,031.18 | 893.27 | 898.75 |
Total Revenue | 347.76 | 1,231.04 | 947.69 | 938.84 |
Profit After Tax | 50.52 | 166.89 | 93.15 | 62.64 |
EBITDA | 76.12 | 271.66 | 163.93 | 127.81 |
EBITDA Margin (%) | 21.95 | 22.13 | 18.15 | 14.09 |
Return on Capital Employed (%) | 8.83 | 31 | 19.78 | 13.98 |
*All numbers are in Rs crore except for percentages
Purpose of the IPO
The objects of the offer are to to carry out the Offer For Sale (OFS) of up to 1,44,81,942 equity shares by the selling shareholders and also achieve the benefits of listing its equity shares on the stock exchanges. Uniparts expects the stock market listing will enhance their visibility and brand image as well as provide liquidity to their shareholders.
Company Promoters
Gurdeep Soni and Paramjit Singh Soni are the promoters of the company.
IPO Details
IPO Subscription Start Date | November 30, 2022 |
IPO Subscription End Date | December 2, 2022 |
Face Value | Rs 10 per share |
Price Band | Rs 548 to Rs 577per share |
Lot Size | 25 |
Issue Size | 1,44,81,942 shares of Rs 10 |
Offer for Sale | 1,44,81,942 shares of Rs 10 |
Issue Type | Book Built Issue IPO |
Listing At | BSE, NSE |
IPO Lot Size
Application | Lots | Shares | Amount |
Retail (Minimum) | 1 | 25 | Rs 14,425 |
Retail (Maximum) | 13 | 325 | Rs 1,87,525 |
Small HNI (Minimum) | 14 | 350 | Rs 2,01,950 |
Large HNI (Minimum) | 70 | 1,750 | Rs 10,09,750 |
IPO Allotment Details
Events | Date |
Allotment of shares | December 7, 2022 |
Initiation of refunds | December 8, 2022 |
Credit of shares to demat account | December 9, 2022 |
Listing Date | December 12, 2022 |
To check your allotment, click here