Uniparts India files IPO papers with Sebi

New Delhi: Uniparts India, manufacturer of engineering systems and solutions, has filed draft papers with markets regulator Sebi to float an initial public offering.

The IPO comprises fresh issuance of shares worth Rs 100 crore besides an offer for sale of 1,30,60,770 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 for general corporate purposes.

Axis Capital, Motilal Oswal Investment Advisors and SBI Capital Markets will manage the company's public issue.

Uniparts is a manufacturer and supplier of engineering systems and solutions and primarily caters to off-highway vehicles in agriculture, construction, forestry and mining sectors.

Earlier, Uniparts had filed initial papers with Sebi in September 2014 and also obtained the regulator's clearance to launch the IPO, but did not go-ahead with the initial share-sale.