Carraro India IPO allotment: Check application status, latest GMP & listing date

Carraro India is scheduled to finalise the basis of allotment of its shares on Thursday, December 26. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Friday, December 27. The auto and auto component maker's IPO had received a muted response from the investors.

The IPO of Carraro India was open for bidding between December 20 and December 24. It had offered its shares in the price band of Rs 668-704 per share with a lot size of 21 shares. The company raised a total of Rs 1,250 crore from its IPO, which was entirely an offer-for-sale (OFS) of up to 1,77,55,680 equity shares.

The issue was overall subscribed a merely 1.12 times. The portion for qualified-institutional bidders (QIBs) was subscribed about 2.21 times. The portion for non-institutional investors (NIIs) was booked only 60 per cent, while the allocation for retail investors was booked just 71 per cent during the three-day bidding.

Grey market premium (GMP) of Carraro India has been commanding no premium in the grey market so far, thanks to the dull bidding for the issue. There has been no reported action in the unofficial market so far and the trend has remained consistent throughout the issue.

Incorporated in 1997, Pune-based Carraro India is engaged in manufacturing components ranging from the smallest gear to complete tractor manufacturing. It designs, manufactures, and sells transmission systems primarily for agricultural and construction equipment for off-highway vehicles. It also offers a wide range of gears for various sectors.

Axis Bank, BNP Paribas and Nuvama Wealth Management are the book running lead managers of the Carraro India IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed on both NSE and BSE with Monday, December 30, as the tentative date of listing.

Investors, who had bid for the issue of Carraro India, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Carraro India Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of Link Intime Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.