UKB Electronics, an electronic manufacturing services (EMS) firm that covers services from product design to prototyping and full-scale manufacturing, has filed preliminary IPO papers with the Securities and Exchange Board of India (Sebi).
UKB’s client list includes major bigwigs such as LG, IFB, Panasonic, Haier, Voltas-Beko, Carrier Midea, and Dixon, to name a few. The firm has 11 manufacturing facilities across the country: two in Maharashtra (Pune and Ahmednagar), and one each in UP (Noida), Rajasthan (Ghiloth), Andhra Pradesh (Sri City), Tamil Nadu (Chennai), and Goa.
According to the draft red herring prospectus (DRHP) filed on Monday, UKB’s proposed IPO looks to raise a total of Rs 800 crore—a fresh issue of equity shares up to Rs 400 crore and an offer-for-sale (OFS) of shares worth Rs 400 crore.
The promoters Manoj Tayal and Vinay Kumar Tayal look to divest shares valued at Rs 135 crore each, while Manik Tayal would offload shares worth up to Rs 130 crore.
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The EMS firm manufactures both consumer electronics and home appliances, including cord assemblies, circuit boards, remotes, distribution systems, cables, chargers, and so on.
Over and above the brands, UKB also serves original equipment manufacturers (OEMs).
Less than a week ago, supply chain solutions provider LEAP India also filed preliminary IPO papers with Sebi to raise Rs 2,400 crore—a mix of fresh issue of shares worth Rs 400 crore and an offer-for-sale (OFS) of shares valued at Rs 2,000 crore by promoters.
Among the major headliners heading to the IPO is Tata Capital, as it looks to raise a staggering Rs 17,200 crore at the offering that is set to begin on September 22, according to reports.
