Carraro India IPO Surpasses Expectations, Here's How

Carraro India Ltd's IPO was oversubscribed 1.12 times on its final day. The offer, fully an offer-for-sale of shares worth Rs 1,250 crore, saw significant interest from qualified institutional buyers. Proceeds will go directly to shareholder Carraro International SE. The company specialises in engineering products for OEMs.

The IPO of Carraro India Ltd has been met with promising investor interest, being oversubscribed 1.12 times at the close of bidding. The data from the National Stock Exchange indicated bids for 1,46,18,814 shares against the 1,30,98,803 shares on offer.

Qualified institutional buyers (QIBs) showed keen interest, with their segment being subscribed 2.21 times. The retail individual investors' and non-institutional investors' categories garnered 71 percent and 60 percent subscriptions, respectively. Notably, Carraro India secured Rs 375 crore from anchor investors in the lead-up to its public offering.

This IPO is entirely an offer-for-sale of Rs 1,250 crore by Carraro International SE, with no new shares being issued. Founded in 1997, Carraro India is known for its engineering expertise in axles and transmission systems for agricultural and construction vehicles, operating two modern plants in Pune.

(With inputs from agencies.)