The initial public offer (IPO) of Carraro India received bids for 1,46,18,226 shares as against 1,30,98,803 shares on offer. The issue was subscribed 1.12 times.
The Qualified Institutional Buyers (QIBs) category was subscribed 2.21 times. The Retail Individual Investors (RIIs) category was subscribed 0.71 times. The Non-Institutional Investors (NIIs) category was subscribed 0.60 times.
The issue opened for bidding on 20 December 2024 and it closed on 24 December 2024. The price band of the IPO is fixed between Rs 668 and 704 per share.
The IPO is a complete offer for sale, aggregating up to Rs 1,250 crore by Carraro International S.E. The promoters and promoter group hold an aggregate of 100% of the pre-offer issued and paid-up equity share capital. Their post-IPO shareholding is expected to be around 68.77%.
Ahead of the IPO, Carraro India on Thursday, 19 December 2024, raised Rs 374.99 crore from anchor investors. The board allotted 53.26 lakh shares at Rs 704 each to 33 anchor investors.
Carraro India is a technology-driven integrated supplier specializing in complex engineering products and solutions for OEMs. It designs, manufactures, and sells transmission systems (axles, transmissions, and drives) primarily for agricultural tractors and construction equipment.
The company caters to different HP ranges of off-highway vehicles, providing products for agricultural tractors, backhoe loaders, soil compactors, cranes, self-loading concrete mixers, and small motor graders.
The firm reported a consolidated net profit of Rs 49.73 crore and sales of Rs 914.62 crore for the six months ended on 30 September 2024.