Uniparts India IPO seen 15x higher than peers

The IPO is an offer for sale of the OFS of 14,481, 942 equity shares by promoter group entities and existing investors.

Since the IPO would be an OFS, the company wouldn't receive any proceeds from the public issue. Also read - Dharmaj Crop Guard IPO details are fully subscribed on the first day of issue.

The company's international sales accounted for more than 82 per cent of total sales in FY 22. There has been steady growth in revenues and margins over the past three fiscal years. The implied market cap at the upper price band of the issue is approx. The asking P E multiple is 15.28 x, which looks reasonable as compared to its peers, and the Rs 2,604 crore and the asking P E multiple is Rs 2,604 crore. Manan Doshi of UnlistedArena.com, dealing in unlisted pre-IPO shares, said that the market is at all-time highs and should also boost the interest of investors.

Market participants said Uniparts India IPO grey market premium GMP was seen around Rs 80. The grey market expected the company to list around Rs 657 Rs 577 Rs 80, which is nearly 14 per cent higher than the IPO's upper band price of Rs 577 per equity share.

One lot has 25 shares and retail investors can buy a maximum of 13 lots of 325 shares worth Rs 1,87, 525 at the upper end of the price band.

The qualified institutional buyers' category is reserved for 50 per cent, 35 per cent for retail investors and 15 per cent for non-institutional investors.

EBITDA jumps by 8 x as OYO reports net loss of Rs 333 crore, and IPO-bound OYO reports a net loss of Rs 333 crore.

The basis for the share allotment may happen on December 7, followed by a likely listing on December 12.

Uniparts India is a supplier of systems and components for the off-highway market in the agriculture and construction, forestry and mining and aftermarket sectors.

Axis Capital, DAM Capital Advisors and JM Financial are the book-running lead managers to the issue.