The Carraro India Initial Public Offering (IPO) has seen an improved subscription rate of 30% on the third day of its offering as of the latest update. The retail individual investors (RII) category continues to drive interest with a subscription of 46%, while the non-institutional investors (NII) segment stands at 30%. However, the Qualified Institutional Buyers (QIB) segment remains subdued with minimal subscription.
The IPO, priced between ₹668-704 per share, is set to conclude today, December 24. This offering is entirely an Offer for Sale (OFS) by Carraro International SE, aiming to raise ₹1,250 crore. Since there is no fresh issue component, the proceeds will directly benefit the selling shareholder.
Carraro India, a subsidiary of Carraro S.p.A, has a strong market presence as a manufacturer of axles and transmission systems, catering to key domestic and global OEM clients. The company operates two advanced manufacturing facilities in Pune, providing engineering solutions for agricultural tractors and construction vehicles.
With prominent clients like Mahindra and Mahindra, CNH, TAFE, and John Deere India Pvt Ltd, Carraro India remains a key player in the OEM sector. The book-running lead managers for the issue are Axis Capital Ltd, BNP Paribas, and Nuvama Wealth Management Ltd.
