As December draws to a close and 2025 is just around the corner, the IPO market continues to buzz with activity. A action-packed week for investors, several IPOs are scheduled to hit the market this week. Among these key highlights is Carraro India, a player in automotive and agricultural machinery.
The Carraro India IPO will open for subscription on Friday, December 20 and is scheduled to close on Tuesday, December 24.
Key highlights of the IPO
Carraro India is a mainboard public issue, with a total issue size of Rs 1,250 crore. The price band for the Carraro India IPO is set between Rs 668 and Rs 704 per share.
The floor price is 66.80 times the face value of Rs 1, while the cap price is 70.40 times the face value.
The company has divided the IPO allocation into three categories where 50 per cent of the shares are reserved for Qualified Institutional Bidders (QIBs). Further, 15 per cent is set aside for Non-Institutional Investors (NIIs).
The remaining 35 per cent is earmarked for retail investors.
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Allotment and listing
Once the bidding ends, the basis of share allotment will be finalised on Thursday, December 26. The tentative date of the listing of the shares on the Indian bourses is scheduled on December 30.
Key Players in the IPO
Axis Capital, BNP Paribas, and Nuvama Wealth Management Ltd are the book-running lead managers for the issue and Link Intime India has been appointed as the registrar, handling the allotment and refund processes.
GMP
As per the latest development, the Grey Market Premium (GMP) for the Carraro India IPO remains at Rs 0, indicating a listing at the upper price band of Rs 704.
Risk Factors
According to the DRHP filed with the market regulator SEBI, the company in risk disclosure wrote, “We derived 70.10% and 86.29% of our revenue from our top five and top 10 customers, respectively, in Fiscal 2024, and any inability to retain our key customers or attract new customers and expand our customer network, could negatively affect our business and results of operations.”
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