Carraro India IPO: The Rs 1,250 crore IPO managed to fully subscribe by 1.12x on the final day of its bidding, driven by qualified institutional buyers. After the subscription of the IPO, the basis of allotment is likely to take place on December 26th ahead of listing on BSE and NSE. The latest grey market premium (GMP) of Carraro India IPO is flat, indicating a muted market debut.
Carraro India IPO Allotment:
Investors can check the status of allotment via BSE, NSE, and Link Intime India.
To Check The Application Status On Link Intime, Click On The Link Below
After the allotment of status, the IPO will initiate a refund of credit shares to eligible investors' demat accounts by December 27th. The listing will take place on December 30th next week.
Carraro India IPO GMP Today:
As per Investor Grain, Carraro India IPO's last GMP is ₹0, last updated Dec 25th 2024 05:04 AM. With the price band of 704.00, Carraro India IPO's estimated listing price is ₹704 (cap price + today's GMP). The expected percentage gain/loss per share is 0.00%.
Carraro India IPO Subscription Status:
The subscription for Carraro IPO closed on December 24th. The IPO received bids of 1,46,18,814 equity shares on the final day, as against the offered size of 1,30,98,803 equity shares, registering a subscription of 1.12x.
However, notably, it was only the qualified institutional buyers (QIBs) portion that fully subscribed by 2.21x, emerging as top bidders. The non-institutional and retail individual investors category subscribed by 60% and 71% of the reserved portion for them.
Carraro IPO Details & Review:
The 100% book building is entirely an offer for sale with an issue size of Rs 1,250 crore. The price band for the IPO was fixed on Rs 668 and Rs 704 per equity share. Since it is entirely an OFS, the proceeds of the shares will go to selling shareholders and not the company.
In its latest report, SBI Securities said, "At the upper price band of Rs 704, Carraro India Ltd is valued at FY24 and FY25 (annualized) P/E multiple of 64.0x and 40.2x on post-issue capital. The company is a leading Tier 1 supplier of axles, transmission systems and gears for agricultural tractors and construction vehicles in India. The company has showcased notable financial performance over the years with Revenue/EBITDA/PAT growing at a CAGR of 9.3%/48.1%/67.0% respectively over the FY22-FY24 period. The domestic agriculture tractor sales volume and harvesting equipment industry is expected to grow at a CAGR of 8.2%/7.2% between FY24-FY29E, which shall augur well for the company's growth."
SBI Securities highlighted growth strategies of the Carraro IPO:
- Maintain strong positioning in axles and transmission systems with an aim to secure market position.
- Drive growth through the introduction of new products and product application innovation.
- Develop future-ready solutions for emerging technologies and potential entry into new market segments.
- Enhance and expand production capabilities in India.
- Increase share of localization and further improve efficiencies of the supply chain.
Carraro India Ltd. is a technology-driven supplier that develops engineering products and solutions for Original Equipment Manufacturers (OEMs). As an independent Tier 1 provider, it specializes in axles, transmission systems and gears for India's agricultural tractor and construction vehicle industries.
For investment related articles, business news and mutual fund advise
Click it and Unblock the Notifications
Sign in with Google