Carraro India made a weak debut on December 30, 2024, with its shares listing at ₹660 on BSE, reflecting a 6.25% premium, and ₹651 on NSE, showing a 7.53% discount to the issue price of ₹704. Despite grey market expectations of a flat start, the listing fell short as the shares were quoted at ₹704 in the grey market before debut.
Carraro India IPO Subscription Status
Carraro India’s IPO received a mixed subscription response, with an overall subscription of 1.12 times. The Qualified Institutional Buyers (QIBs) category was oversubscribed 2.21 times, driven by strong demand from mutual funds and domestic financial institutions. Retail Individual Investors (RIIs) subscribed 0.71 times, while Non-Institutional Investors (NIIs) showed a weaker response, with 0.60 times subscription.
Carraro India IPO GMP
After the bidding closed on December 24 and allotments were finalized on December 26, Carraro India’s grey market premium (GMP) stood at ₹0, indicating no premium or discount. The stock is expected to list at its issue price of ₹704 on both BSE and NSE.
About Carraro India IPO
Carraro India IPO aims to raise ₹1,250 crores through an offer for sale of 1.78 crore shares, with a price band of ₹668 to ₹704. The IPO opens on December 20, 2024, and closes on December 24, 2024, with listing on December 30, 2024. Retail investors can apply with a minimum of ₹14,784 for one lot. The company reported steady growth, with revenue rising to ₹1,806.55 crores in 2024 and profits growing to ₹62.56 crores, making it a promising opportunity for long-term investors.
About Company
Incorporated in 1997, Carraro India Ltd manufactures components like axles, transmission systems, and gears for agricultural and construction equipment. With two plants in Pune, the company serves sectors including agricultural tractors and construction vehicles.
Carraro India is a Tier 1 supplier, known for its strong R&D, custom solutions, and long-standing relationships with 220 local and 58 international suppliers. The company has nearly 27 years of experience, positioning itself as a key player in driveline components for the agricultural and construction industries.
Carraro India IPO Financial Background
As of September 30, 2024, Carraro India reported assets of ₹1,093.41 crores, revenue of ₹922.74 crores, and a profit after tax of ₹49.73 crores. Its net worth stood at ₹419.44 crores, with total borrowings of ₹195.78 crores. These figures reflect solid growth compared to previous years.