Carraro India’s Rs 1,250 crore initial public offering (IPO) has garnered a subscription of 1.12x on the final day of bidding, primarily driven by strong demand from qualified institutional buyers (QIBs). The IPO closed on December 24, with 1,46,18,814 equity shares bid for, against the offered size of 1,30,98,803 shares. While the overall subscription was moderate, QIBs stood out, fully subscribing their portion by 2.21x. On the other hand, the non-institutional investors and retail individual investors saw more subdued interest, with their portions subscribed by 60% and 71%, respectively.
The IPO’s grey market premium (GMP) stands at ₹0, indicating a muted market debut for Carraro India. With the price band set at ₹704, this suggests that the expected listing price will also be around ₹704, resulting in no significant premium or discount at the time of listing.
For investors eagerly awaiting their allotment status, the basis of allotment is expected to take place on December 26, 2024. Investors can check their allotment status through BSE, NSE, or Link Intime India, which will provide updates on the final allotment. Following this, the IPO process will initiate refunds and credit of shares to the demat accounts of eligible investors by December 27, 2024.
Carraro India’s listing on the BSE and NSE is set to take place on December 30, 2024. Despite a flat GMP and moderate overall subscription, the listing will be closely watched as investors assess the company’s performance in the public markets.
