New Delhi: Carraro India Ltd IPO will remain open for subscription from December 20 to 24, 2024. The price band of the initial public offer is Rs 668-704 per share. The company engaged in the business of manufacturing transmission systems for off-highway vehicles and other agricultural and construction equipment, secured Rs 375 crore from anchor investors.
List of anchor investors: Kotak Mahindra Life Insurance Company, Bajaj Allianz Life Insurance Company, SBI General Insurance Company, UTI MF, Sundaram MF, Aditya Birla Sun Life Mutual Fund (MF), HSBC MF, Motilal Oswal MF, and Tata AIA Life Insurance Company.
Carraro India IPO details
According to the circular uploaded on BSE’s website, Carraro India allotted 53.27 lakh equity shares to 33 funds at Rs 704 apiece. The IPO is a book-built issue of Rs 1,250 crore, which is an entirely an offer for sale of 1.78 crore shares. The public offer is an OFS issue, which means the funds garnered from the IPO will go directly to the selling shareholder, rather than the company.
Investors applying in the retail category are mandated to bid for a minimum lot size of 21 shares and the minimum amount of investment required is Rs 14,784. The NII investors category will have to bid for 14 lots and for bNII portion it is 68 lots. Fifty per cent of the issue has been reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors.
Carraro India IPO GMP, allotment, listing
Carraro India IPO allotment is expected on December 26, 2024 while the unsuccessful investors will start getting the refunds from December 27. The shares are predicted to be credited to the demat accounts of eligible applicants on 27 December. The shares will list on BSE and NSE likely on December 30.
Carraro India IPO has failed to create any buss in the grey market. The latest GMP was recorded at 0, investorgain reported. With the price band of Rs 704 and GMO indicating no listing gains, the shares are likely to be listed at the issue price. GMP figures are unofficial.
All about Carraro India
Carraro India, a subsidiary of Carraro S.p.A, came into existence in 1997. Its manufacturing journey started with transmission systems in 1999 and axles in 2000. The manufactures, and sells transmission systems (axles, transmissions, and drives) primarily for agricultural and construction equipment for off-highway vehicles.
The company has a customer base in Asia and outside Asia. The clients are International Tractors Ltd, Escorts Kubota, CNH, Bull Machines, Action Construction Ltd, Mahindra and Mahindra, John Deere India Pvt Ltd, CNH, TAFE, and Action Construction Ltd, Liugong, Manitou Equipment, and Doosan.
In 2023-24, the revenue from operations increased 4.44 per cent to Rs 1,770.45 crore and profit after tax surged 29.44 per cent to Rs 60.58 crore.
Axis Capital Ltd, BNP Paribas, and Nuvama Wealth Management Ltd are the book-running lead managers to the issue.
Carraro India IPO opens for subscription on December 20, 2024. The price band is fixed at Rs 668-704 per share. The company collected Rs 375 crore from anchor investors ahead of IPO. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
