Carraro India IPO subscribed 9% on Day 1: Check key dates, price band, GMP and review

The initial public offering (IPO) of Carraro India has witnessed a subscription of just 9% on the first day of its issue opening, attracting a lagging response from the market participants.

The retail portion had subscribed to the issue by 15%, followed by the non-institutional investors (NIIs), who subscribed to the issue by just 6%. The qualified institutional buyers (QIBs) had not yet made any bids.

The issue opened for subscription earlier on Friday and will be available for bidding till December 24.


The Rs 1,250 crore issue is entirely an offer for sale of 1.77 shares, and since the IPO is completely an OFS, the proceeds from the offer will go to the selling shareholders.

Carraro India IPO: price band

The company has fixed a price band of Rs 668-704 per share, where investors can bid for 21 shares in one lot and in multiples thereafter.

Carraro India IPO: GMP today

Ahead of the issue opening, Carraro India had no GMP in the unlisted market.

Carraro India IPO: Review

Analysts advised investors to subscribe to the issue as the valuations appear favourable given its strong financial performance, solid market position, and positive industry trends.

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"The company’s ability to maintain high growth rates, innovate, and adapt to changing market conditions positions it well for future success," said Bajaj Broking while recommending a subscribe for long term.

About Carraro India IPO

Carraro India specializes in the manufacturing of components ranging from small gears to complete tractor assemblies. The company designs, produces, and sells transmission systems—such as axles, transmissions, and drives—primarily for agricultural and construction off- highway vehicles.

Additionally, it manufactures a wide variety of gears for sectors including automotive, trucks, agriculture, and construction vehicles.

The company operates two manufacturing plants in Pune, Maharashtra: a driveline manufacturing facility covering 84,000 square meters and a gear manufacturing plant spanning 78,000 square meters.

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The company's revenue from operations increased 4% from Rs 1,695 crore in FY23 to Rs 1,770 crore in FY24, primarily due to an increase in revenue from the sale of products. Profit after tax rose 29% to Rs 60.58 crore in the same period.

Carraro India IPO: Opening Date, Allotment and Listing Date

Carraro India IPO opened up for public subscription on December 20 with the issue closing on December 24. Meanwhile, the allotment for the IPO is expected to be finalised on December 26 and the listing of shares will be on December 30.

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