Latest GMP on the final day of subscription for the Uniparts India IPO

 On Thursday, the initial public offering (IPO) of engineering systems and solutions provider Uniparts India was subscribed to 2 times. Beginning on Wednesday and running through Friday, December 2, 2022, the issue is available for public subscription. 

 The price range has been set at 548 to 577 per share. Before its maiden share sale, the business raised 251 crore from the anchor investors. 

 

According to market watchers, shares of Uniparts India are currently trading on the black market for a premium (GMP) of 45. On Monday, December 12, 2022, the company’s shares are anticipated to list on the BSE and NSE stock markets. 

  

The full Uniparts India IPO is an Offer for Sale (OFS) of 14,481,942 equity shares by entities in the promoter group and current investors. The company will not get any funds from the public offering because it is solely an OFS. 

 

An international producer of designed systems and solutions is Uniparts India. Due to its presence in more than 25 countries, it is one of the top suppliers of systems and components for the off-highway industry in the agricultural and construction, forestry and mining, and aftermarket sectors. 

 

In terms of market share, Uniparts had an estimated value of 16.68% in the global 3PL market and an expected value of 5.92% in the global PMP market in the CFM sector in Fiscal 2022. 

  

“No comparable competitors exist with a product profile and business strategy equivalent to UIL.

The aforementioned counterparts are only taken into account when benchmarking the requested valuations. The company is requesting an EV/sales multiple of 2.2x (to its FY22 revenues) at higher price bands, which appears to be comparable to the peer average. Even yet, UIL outperforms its peers on both profitability and return ratios.

“However, we believe the company has sufficient levers to grow its business at a faster rate given the global policy tailwinds. Therefore, we rate the issue as “SUBSCRIBE,” according to Choice Broking.”