Carraro India slumps 9% in trading debut

Carraro India

30/12/2024 07:43

** Shares of Carraro India  CARD.NS  plunge 9% to 642.25
rupees in trading debut vs IPO price of 704 rupees
    ** Stock opened at 651 rupees and has traded between 633-682
rupees on the day
    ** Vehicle transmission systems maker valued at 36.51 bln
rupees ($427.30 mln) at current price
    ** CARD did not issue new shares in the IPO, Italian parent
Carraro International cuts stake by ~31 bps, prospectus shows
    ** The 12.50 bln-rupee IPO was subscribed 1.1x, with bids
worth 10.29 bln rupees
 
 ($1 = 85.4425 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))