Carraro India IPO has opened its window for subscription today (December 20). A mainboard issue, Carraro India’s 3-days bidding is set to close on December 24. The company through this IPO is aiming to raise around Rs 1,250 crore, which is entirely an offer for sale. Furthermore, Carraro International S.E., the promoter, is divesting up to 1.78 crore shares in this issue.
Carraro India IPO Subscription Status Day 1
As of the first day of the offering today , the IPO has been subscribed 0.04 times, as per the latest update. The retail category saw a subscription rate of 0.06 times, while the Qualified Institutional Buyers (QIB) category has not seen any subscriptions yet. The Non-Institutional Investors (NII) category has been subscribed 0.02 times.
Grey Market Premium
Carraro India’s shares were trading flat in the grey market, with no premium as of now.
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Carraro India IPO Details and Subscription Window
The shares are being offered within a price band ranging between Rs 668 to Rs 704 per share. Retail investors can apply for a minimum of 21 shares, amounting to an investment of Rs 14,784. For Small and Non-Institutional Investors (sNIIs), the minimum application size is 294 shares, totaling to a sum of Rs 2,06,976, while Big and Non-Institutional Investors (bNIIs) must apply for a minimum of 1,428 shares, or Rs 10,05,312.
Anchor Investor
Ahead of the opening of the issue, the company has already raised Rs 375 crore from anchor investors on December 19.
“At the upper price band company is valuing at P/E of 45.83x, with an EV/EBITDA of 31.6x and market cap of ₹ 40,023 million post issue of equity shares and return on net worth of 16.92%. We believe that the IPO is fairly priced and recommend a “Subscribe-Long term” rating to the IPO,” added Anand Rathi brokerage firm in an IPO note.
Expected Listing and Allotment
The IPO will close on December 24 and the basis of allotment is expected to be finalised by Thursday, December 26. Successful applicants will receive their shares in their demat accounts by Friday, December 27.
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Carraro India is expected to make its debut on the BSE and NSE on Monday,
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