The initial public offering (IPO) of Carraro India, a manufacturer of transmission systems for off-highway vehicles, agricultural, and construction equipment, opened for bidding today. However, the grey market premium (GMP) currently stands at ₹0, indicating limited buzz around the IPO in the unlisted market.
Carraro India IPO Details:
- IPO Type: Entirely an Offer for Sale (OFS) worth ₹1,250 crore by Carraro International SE. No fresh issue.
- Price Band: ₹668-₹704 per share.
- Lot Size: Minimum bid for 21 shares and in multiples thereof.
- Bidding Period: December 21–24, 2024.
- Anchor Investment: Raised ₹375 crore from anchor investors ahead of the IPO.
- Book Running Lead Managers: Axis Capital Ltd, BNP Paribas, and Nuvama Wealth Management Ltd.
- Registrar: Link Intime India Private Ltd.
IPO Subscription Status (Day 1):
- Subscribed 9% overall.
- Retail Individual Investors (RIIs): 15% subscription.
- Non-Institutional Investors (NIIs): 6% subscription.
- Received bids for 11,24,277 shares against the total offer of 1,30,98,803 shares.
Carraro India GMP Update:
The grey market premium (GMP) for Carraro India stands at ₹0, reflecting no significant interest in the unlisted market. This may indicate muted listing expectations among investors.
Company Overview:
- Founded: 1997, as a subsidiary of Carraro S.p.A.
- Operations: Specializes in axles and transmission systems for agricultural tractors and construction vehicles.
- Manufacturing Plants:
- Two plants in Pune, equipped with advanced technologies for casting, machining, assembly, prototyping, testing, painting, and heat treatment.
- Key Clients:
- Agricultural Sector: CNH, TAFE, Mahindra and Mahindra, John Deere India Pvt Ltd, Escorts Kubota, International Tractors Ltd, and others.
- Construction Sector: CNH, Bull Machines, Doosan, Liugong, Manitou Equipment, and more.
IPO Allotment and Listing Dates:
- Allotment Date: December 26, 2024.
- Listing Date: December 30, 2024 (tentative).
- Stock Exchanges: BSE and NSE.
