The Carraro India IPO, which opened for subscription earlier this month, is set to finalize its allotment status today, December 26, 2024. This marks a significant milestone for the IPO, which garnered solid demand from investors, showing a healthy oversubscription of 1.12 times. With the initial public offering (IPO) closing on December 24, 2024, investors are now eagerly awaiting the final allotment details, which are expected to be announced soon.
Carraro India’s IPO received a warm response, attracting significant attention from various segments of the investing community. The subscription price for the IPO was set within a band of Rs 668 to Rs 704. During the subscription period, bids for 1,46,18,814 shares were placed against the 1,30,98,803 shares on offer.
According to BSE data, the IPO was oversubscribed by 1.12 times, with the Qualified Institutional Buyers (QIBs) leading the demand. QIBs subscribed 2.21 times their allocated quota, while Retail Investors and Non-Institutional Investors (NIIs) subscribed to 0.71 times and 0.60 times their respective portions.
This strong investor interest underscores the confidence in Carraro India, which is positioning itself as a key player in the Indian market, offering integrated engineering solutions and complex products to Original Equipment Manufacturers (OEMs) in sectors like agriculture and construction.
Once the allotment process for the Carraro India IPO is complete, investors can check their status online. To verify the status, investors can visit the official websites of the BSE, NSE, or Link Intime India (the registrar for the IPO). Here are the direct links to check the Carraro India IPO allotment status:
Check Carraro India IPO allotment status on BSE: BSE Allotment Status
Check Carraro India IPO allotment status on Link Intime India: Link Intime IPO Status
Check Carraro India IPO allotment status on NSE: NSE IPO Status
As of December 26, 2024, Carraro India IPO shares were trading in the grey market at Rs 704 apiece, which aligns with the upper end of the IPO price band. Interestingly, the grey market premium (GMP) stands at nil, which implies no additional premium for the stock in the unofficial markets. The absence of a premium suggests a neutral outlook for the stock’s listing day performance, but investors should be cautious since grey market trends are speculative and may not fully reflect the actual performance of the stock on listing day.
The shares of Carraro India are expected to list on the BSE and NSE on Monday, December 30, 2024. Based on the grey market activity, the shares could debut around Rs 704, matching the upper IPO price. However, it is essential to remember that the grey market premium may not accurately predict the stock's actual performance on the listing day, so investors should monitor the market conditions closely before making decisions.
Carraro India is a technology-driven integrated supplier specializing in engineering products for original equipment manufacturers (OEMs) in the agriculture and construction vehicle industries. The company manufactures axles, transmission systems, gears, and other related components, catering to the needs of OEM customers. As an independent tier-1 solution provider, Carraro India offers in-house product design and manufacturing capabilities, ensuring high-quality standards.
The Carraro brand is owned by Carraro S.p.A., and the company operates under a licensing agreement with Carraro S.p.A. to use the brand in India. Carraro India’s expertise and technological strength are reflected in the IPO, making it a noteworthy player in the engineering sector.
Offer Size: Rs 1,250 crore
IPO Price Band: Rs 668-704
Subscription Close Date: December 24, 2024
IPO Subscription Oversubscription: 1.12 times
Listing Date: December 30, 2024
Expected Listing Price: Rs 704 (based on grey market trends)
Company Sector: Engineering, Agricultural Equipment, Construction Vehicles