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Carraro India Shares Listed on NSE and BSE With ~7% Discount

Updated on: Dec 30, 2024, 3:13 PM IST
Carraro India Shares are listed at ₹660 per share, marking a 6.25% discount on BSE and ₹651, reflecting a 7.53% discount over the issue price on NSE.
Carraro India Shares Listed on NSE and BSE With ~7% Discount
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

Carraro India, an agricultural and construction equipment manufacturer, experienced a negative debut on the stock exchanges on Monday, December 30, 2024. On BSE, Carraro India shares were listed at ₹660 per share, marking a 6.25% discount compared to the IPO issue price of ₹704. On the National Stock Exchange (NSE), Carraro India shares opened at ₹651 each, reflecting a 7.53% discount over the issue price.

Carraro India IPO Details

The Carraro India IPO consisted entirely of an offer for sale by the promoter, Carraro International S.E., which divested up to 1,77,55,680 equity shares, estimated to be worth around ₹1,250 crore. The public offering was priced in the range of ₹668-704, with a lot size of 21 shares.

The IPO, which opened on December 20, 2024, and closed on December 24, 2024, was oversubscribed by 1.12 times.

Carraro India will not receive any proceeds from the offer for sale. Instead, the proceeds will go to the Promoter Selling Shareholder after deducting offer-related expenses and relevant taxes, which will be borne by the promoter.

About Carraro India Limited

Carraro India manufactures key components for agricultural and construction equipment. The company designs and produces transmission systems and gears for various sectors. It operates two manufacturing plants in Pune, Maharashtra, covering a total area of around 162,000 square meters. Carraro India produces axles and transmission systems for agricultural tractors and construction vehicles, supported by a network of 220 local suppliers and 58 international suppliers.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Dec 30, 2024, 10:29 AM IST

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