The IPO allotment for Carraro India is set to take place today, December 26, 2024. Investors who participated in the public offering can now view their allotment status online. The company’s shares are anticipated to be officially listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on December 30, 2024.
IPO Details:
- Allotment Date: December 26, 2024
- Listing Date: December 30, 2024
- Price Band: ₹668 to ₹704 per share
- Lot Size: 21 shares
Carraro India, a leading manufacturer of transmission systems for agricultural and construction equipment, had opened its IPO for subscription between December 20 and December 24, 2024. The price range for each share was set between ₹668 to ₹704, with a minimum lot size of 21 shares.
IPO Response and Subscription:
The Carraro India IPO received a lukewarm response from investors, with an overall subscription of just 1.12 times. The Qualified Institutional Buyers (QIBs) segment saw a subscription of 2.21 times. In contrast, the Non-Institutional Investors (NIIs) segment was subscribed to 60%, and the retail investors’ portion reached a subscription level of only 71%. These numbers indicate that the IPO did not see the kind of demand expected from the market.
The Grey Market Premium (GMP) for Carraro India’s IPO has been relatively flat, with no significant movement. The GMP indicates the difference between the IPO’s issue price and the expected listing price as observed in the unofficial market for shares. Currently, the GMP is reported to be zero, indicating no premium in the grey market. This means that investors are not seeing any significant gains in the grey market so far.
How to Check Allotment Status:
Applicants of the Carraro India IPO can check their allotment status through the following methods:
- BSE Website:
- Visit the BSE website: https://www.bseindia.com/investors/appli_check.aspx
- Under the “Issue Type,” select “Equity.”
- Choose “Carraro India Limited” from the drop-down menu.
- Enter your application number and PAN card details.
- Enter the CAPTCHA and click “Search” to see your allotment status.
- Link Intime India Website:
- Visit Link Intime India’s website: https://linkintime.co.in/MIPO/Ipoallotment.html
- Select “Carraro India Limited” under the IPO/FPO section (once allotment is finalized).
- You can view your allotment status by entering your application number, Demat account number, or PAN ID.
Listing Date:
Carraro India is set to list its shares on the stock exchanges on December 30, 2024. Investors are eagerly waiting to see how the shares perform on listing day. Based on the current market trends and GMP, it is expected that the stock may list at around ₹740 per share, slightly above the upper price band. However, as with all IPOs, listing day performance can be influenced by multiple factors.
Carraro India, incorporated in 1997 and based in Pune, specializes in manufacturing transmission systems for agricultural and construction equipment. The company is known for producing high-quality components, from small gears to complete tractor transmission systems. It has built a strong reputation in the Indian market and supplies its products to major original equipment manufacturers (OEMs) in the sector.
While the Carraro India IPO has faced a somewhat tepid response from investors, it remains a key event for those interested in the auto and auto components sector. Investors can verify their allotment status by visiting the BSE website, accessing Link Intime India, or using their broker’s platform. The listing of Carraro India’s shares is expected to take place on December 30, 2024, and it will be interesting to see how the shares perform in the market.
As the allotment date nears, investors should be ready to check their allotment status and stay updated on the upcoming listing.
