Uniparts India Ends 6.5% Below IPO Price On Market Debut

Shares of Uniparts India Ltd., the manufacturer of systems and components for the off-highway market in the agriculture, construction, forestry, and mining sectors, listed at a discount of 0.35% over their IPO price.

The stock listed at Rs 575 apiece on the BSE and National Stock Exchange, a discount of 0.35% to its IPO price of Rs 577 apiece.

Intraday, it fell as much as 7.1% to Rs 536.15 apiece. It ended 6.5% lower at Rs 539.65 apiece.

The IPO was oversubscribed 25.32 times, with institutional investors leading the bidding, oversubscribing their portion by 67.14 times.

The issue consisted of an offer for the sale of 1.44 crore shares by the promoter group and selling shareholders at a price band of Rs 548–577 apiece in the IPO. The size of the issue is Rs 835.60 crore.