Carraro India IPO - Day 3 Subscription at 0.25 Times

Carraro India's initial public offering (IPO) has received measured investor interest over the three-day period. The IPO witnessed gradual growth in demand, with subscription rates moving from 0.09 times on day one, to 0.23 times on day two, and reaching 0.25 times by 10:24 AM on the final day.

Carraro India IPO, which opened on 20th December 2024, has seen moderate participation across categories. The Retail Investors segment has shown modest interest, reaching 0.40 times subscription, while Non-Institutional Investors achieved 0.24 times subscription. The QIB portion remains at 0 times.

This measured response comes amid ongoing sentiment in the Indian stock market, particularly towards companies in the automotive and manufacturing sector.
 

Subscription Status of Carraro India IPO:

*As of 10:24 AM

Here are the subscription details for Carraro India IPO as of Day 3 (24th December 2024, 10:24 AM):

Total Applications: 1,01,932

Note:

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
• The portion of anchor investors is not included in the total shares offered.

Carraro India Key Highlights:

• Overall subscription reached 0.25 times on the final day
• Retail investors leading with 0.40 times subscription, worth ₹176.679 crores
• Non-Institutional Investors achieved 0.24 times subscription
• QIB portion remains undersubscribed
• Total bids received for 31.50 lakh shares worth ₹221.761 crores
• Applications reached 1,01,932 showing steady interest
• Small NII segment showing relatively higher interest at 0.39 times
• Anchor portion fully subscribed at ₹375 crores

Carraro India IPO - Day 2 Subscription at 0.23 Times

Key Highlights - Day 2:

• Overall subscription improved to 0.23 times
• Retail investors showed increased interest with 0.37 times subscription
• Non-institutional investors progressed to 0.21 times
• QIB portion remained at 0 times
• Day two witnessed modest growth in participation
• Small NII segment reached 0.34 times subscription
• Large NII segment achieved 0.15 times subscription
• Market response indicated careful evaluation
• Subscription trend showing gradual build-up

Carraro India IPO - Day 1 Subscription at 0.09 Times

Key Highlights - Day 1:

• Overall subscription opened at 0.09 times
• Retail investors began with 0.16 times subscription
• Non-institutional investors started at 0.06 times
• QIB portion awaiting participation
• Opening day witnessed measured response
• Small NII segment showed 0.10 times subscription
• Large NII segment achieved 0.04 times subscription
• Initial momentum indicating cautious approach
• Market response suggesting selective interest
• Final day showing gradual improvement in participation

About Carraro India Limited:

Established in 1997, Carraro India Limited has evolved into a leading manufacturer of transmission systems and components for off-highway vehicles. Operating from two state-of-the-art manufacturing facilities in Pune, spanning 162,000 square meters, the company specializes in designing and producing axles, transmissions, and drives primarily for agricultural and construction equipment.

The company's manufacturing excellence is demonstrated through its comprehensive capabilities, from casting and machining to assembly and testing. With a network of 220 domestic suppliers across eight states and 58 international suppliers, supported by 87 full-time quality and after-sales employees, Carraro India has established itself as a crucial Tier 1 supplier in the industry. Their financial performance has been steady, achieving 4% revenue growth and 29% PAT increase between FY2023 and FY2024.

Highlights of the Carraro India IPO:

• IPO type: Book Built Issue
• IPO size: ₹1,250.00 crores
• Complete Offer for Sale: 1.78 crore shares
• Face value: ₹10 per share
• Price band: ₹668 to ₹704 per share
• Lot size: 21 shares
• Minimum investment for retail investors: ₹14,784
• Minimum investment for sNII: ₹2,06,976 (14 lots)
• Minimum investment for bNII: ₹10,05,312 (68 lots)
• Listing at: BSE, NSE
• IPO opens: December 20, 2024
• IPO closes: December 24, 2024
• Allotment date: December 26, 2024
• Refund initiation: December 27, 2024
• Credit of shares: December 27, 2024
• Listing date: December 30, 2024
• Lead Managers: Axis Bank Limited, BNP Paribas, Nuvama Wealth Management Limited
• Registrar: Link Intime India Private Ltd

The initial day's subscription pattern suggests a thoughtful market approach to evaluating Carraro India's strong position in the automotive component manufacturing sector and its potential to capitalize on growth opportunities in India's agricultural and construction equipment markets.