Carraro India IPO day 2: GMP, subscription status, review, other details. Apply or not?

Carraro India IPO: The initial public offering (IPO) of Carraro India Limited has opened for subscription on 20 December during Friday deals and remain open until 5:00 PM on 24 December 2024. The tractor component maker company has fixed the Carraro India IPO price band at ₹668 to ₹704 per equity share. The company aims to raise ₹1,250 crore from this initial offer, which is entirely an Offer for Sale (OFS). The book build issue is proposed for listing on the BSE and the NSE. Meanwhile, ahead of the issue opening, the company's shares are trading at par in the grey market today.

Carraro India IPO subscription status

By 4:09 PM on day 2 of bidding, the book build issue had been subscribed 0.21 times, the retail portion had been booked 0.34 times, and the NII segment had been subscribed 0.18 times.

Carraro India IPO details

1] Carraro India IPO GMP today: According to stock market observers, the company's shares are trading at par in the grey market today. This means they are neither trading at a premium nor any discount.

2] Carraro India IPO price band: The tractor component maker company has fixed the Carraro India IPO price band at ₹668 to ₹704 per equity share.

3] Carraro India IPO date: The mainboard issue has opened today and will remain open until 24 December 2024.

4] Carraro India IPO size: The company aims to raise ₹1,250 crore from this initial public offering (IPO), which is entirely an OFS.

5] Carraro India IPO lot size: A bidder can apply in lots, and one lot of the book build issue comprises 21 company shares.

6] Carraro India IPO allotment date: The most likely date for finalising share allocation is 26 December 2024.

7] Carraro India IPO registrar: Link Intime India Private Limited has been appointed official registrar of the book build issue.

8] Carraro India IPO Lead Managers: Axis Bank, BNP Paribas, and Nuvama Wealth Management have appointed the public issue lead managers.

9] Carraro India IPO listing date: The initial public offer is proposed for listing on the NSE and the BSE, and the most likely date for share listing is 30 December 2024.

Carraro India IPO: Apply or not?

10] Carraro India IPO review: Assigning a 'subscribe' tag to the public issue, Bajaj Broking says, "Carraro India Limited's IPO valuation appears favourable, given its strong financial performance, solid market position, and positive industry trends. The company's ability to maintain high growth rates, innovate, and adapt to changing market conditions positions it well for future success. Investors should consider these factors and the broader economic environment and market conditions to make informed investment decisions."

On whether one should apply for the public issue or not, Abhishek Pandya, Research Analyst at StoxBox, said, "The issue is valued at a price-to-earnings (P/E) ratio of 64x on the upper price band based on FY24 earnings, which is comparatively expensive compared to its peers. Considering the company's sluggish financial performance and relatively high valuation compared to its peers, we recommend an "AVOID" rating for this issue."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.