Weak Debut for Carraro India

30 Dec 2024 , 03:09 PM

Following their Monday debut on the exchanges, Carraro India’s shares dropped more than 4% to Rs 633.3 on the BSE. The stock was down Rs 44, or 6.25%, from the IPO price of Rs 704 when it debuted on the BSE at Rs 660.

In the meantime, the stock has dropped 10% from the issue price.

Carraro India’s initial public offering (IPO) had recently successfully completed the final day of the bidding process. At closing, the total subscription was 1.18 times.

Since the full Rs 1,250 crore offering was for the sale of 1.77 shares, the selling stockholders will receive the IPO’s profits.

Manufacturing components ranging from the smallest gear to entire tractors is what Carraro India Ltd does. The company primarily designs, manufactures, and markets transmission systems (axles, transmissions, and drives) for off-highway vehicles used in construction and agriculture.

It also produces a broad range of gears for industries like construction, trucks, automobiles, and agriculture.

In Pune, Maharashtra, the company runs two manufacturing facilities: a 78,000-square-meter gear manufacturing factory and an 84,000-square-meter driveline manufacturing facility.

For feedback and suggestions, write to us at [e-mail]