Uniparts India continues downward trend — closes nearly 2 percent lower

The engineering systems and solutions provider Uniparts India stock ended nearly 2 percent lower on BSE on Wednesday, continuing its lackluster run after a muted debut on the bourses on December 12. The stock closed 1.33 percent down at Rs 565.80 on BSE.

Since its weak debut on the stock exchanges the shares of Uniparts India recorded its high of Rs 593.95 on December 20, 2022, and low of Rs 530.05 on December 23, 2022. The stock was listed on BSE at Rs 575 apiece against the issue price of Rs 548 - Rs 577 while on NSE the shares were listed at Rs 575 per unit. On its opening day the shares of Uniparts India closed at Rs 536.50 on NSE and at Rs 536.15 apiece on BSE, respectively.

Uniparts India’s IPO was open for subscription from November 30,2022, to  December 2, 2022, to raise upto Rs 836 crore. About 1,44,81,942 equity shares on the offer for a price range of Rs 548-577 per share. However, the IPO was entirely an Offer for Sale (OFS) and the company offered shares in the OFS to promoter group entities.