Carraro India IPO
Carraro India Limited (CARRARO) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 30 December 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -0.5% (likely range -9% to +5%), day's high +5.0%, chance of a gain 33%. Actual: -7.5% at the open, -3.1% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 37,42,515 | 82,72,824 | 2.21x | |
| NII (HNI) total | 28,06,887 | 16,86,825 | 0.60x | |
| Big NII (above ₹10 lakh) | 18,71,258 | 7,92,099 | 0.42x | |
| Small NII (₹2-10 lakh) | 9,35,629 | 8,94,726 | 0.96x | |
| Retail | 65,49,401 | 46,59,165 | 0.71x | |
| Total | 1,30,98,803 | 1,46,18,814 | 1.12x |
Bids on NSE and BSE together, as published by NSE, as of 24 Dec 2024, 07:00 PM. Shares offered exclude the anchor portion. 28% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Carraro India's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Aster DM HealthcareFeb 2018 | 2.10x | 0.55x | 1.18x | 1.31x | ₹1,010 Cr | -3.7% | -1.1% |
| HealthCare Global EnterprisesMar 2016 | 2.36x | 0.43x | 0.83x | 1.56x | ₹650 Cr | -3.6% | -2.8% |
| Popular Vehicles and ServicesMar 2024 | 1.97x | 0.66x | 1.05x | 1.23x | ₹601 Cr | -2.0% | -2.0% |
| Bharat DynamicsMar 2018 | 1.50x | 0.50x | 1.41x | 1.30x | ₹1,667 Cr | -13.6% | -5.9% |
| Aavas FinanciersSep 2018 | 2.77x | 0.26x | 0.25x | 0.97x | ₹1,734 Cr | -8.7% | -4.1% |
| Mishra Dhatu NigamMar 2018 | 1.96x | 0.12x | 0.72x | 1.21x | ₹755 Cr | -3.3% | +1.1% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| BNP Paribas | 10 | +10.5% | 50% |
| Nuvama Wealth Management | 35 | +11.9% | 66% |
Offer documents (NSE)
Frequently asked
What is the Carraro India IPO price band and lot size? ₹668–704 per share, with a lot of 21 shares, so the smallest retail bid is ₹14,784.
How many times has it been subscribed? 1.12x overall: QIB 2.21x, NII 0.60x, retail 0.71x.
How did it list? It opened at ₹651, -7.5% against the issue price of ₹704, and closed its first day -9.6%.
