Carraro India IPO is a book built issue of Rs 1,250.00 crores. The issue is entirely an offer for sale of 1.78 crore shares.
Carraro India IPO opens for subscription on December 20, 2024 and closes on December 24, 2024. The allotment for the Carraro India IPO is expected to be finalized on Thursday, December 26, 2024. Carraro India IPO will list on BSE, NSE with tentative listing date fixed as Monday, December 30, 2024.
Carraro India IPO price band is set at ₹668 to ₹704 per share. The minimum lot size for an application is 21. The minimum amount of investment required by retail investors is ₹14,784. The minimum lot size investment for sNII is 14 lots (294 shares), amounting to ₹2,06,976, and for bNII, it is 68 lots (1,428 shares), amounting to ₹10,05,312.
Axis Bank Limited, Bnp Paribas, Nuvama Wealth Management Limited are the book running lead managers of the Carraro India IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Carraro India IPO RHP for detailed information.
Carraro India IPO Details
| IPO Date | December 20, 2024 to December 24, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹668 to ₹704 per share |
| Lot Size | 21 Shares |
| Total Issue Size | 1,77,55,680 shares (aggregating up to ₹1,250.00 Cr) |
| Offer for Sale | 1,77,55,680 shares of ₹10 (aggregating up to ₹1,250.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,68,51,538 shares |
| Share Holding Post Issue | 5,68,51,538 shares |
Carraro India IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offer |
Carraro India IPO Timeline (Tentative Schedule)
Carraro India IPO IPO opens on December 20, 2024, and closes on December 24, 2024.
| IPO Open Date | Friday, December 20, 2024 |
| IPO Close Date | Tuesday, December 24, 2024 |
| Basis of Allotment | Thursday, December 26, 2024 |
| Initiation of Refunds | Friday, December 27, 2024 |
| Credit of Shares to Demat | Friday, December 27, 2024 |
| Listing Date | Monday, December 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 24, 2024 |
Carraro India IPO Lot Size
Investors can bid for a minimum of 21 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 21 | ₹14,784 |
| Retail (Max) | 13 | 273 | ₹1,92,192 |
| S-HNI (Min) | 14 | 294 | ₹2,06,976 |
| S-HNI (Max) | 67 | 1,407 | ₹9,90,528 |
| B-HNI (Min) | 68 | 1,428 | ₹10,05,312 |
| Lot Size Calculator | |||
Carraro India IPO Promoter Holding
Tomaso Carraro, Enrico Carraro, Carraro S.p.A and Carraro International S.E are the company’s promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 68.77% |
About Carraro India Limited
Incorporated in 1997, Carraro India Ltd is engaging in manufacturing components ranging from the smallest gear to complete tractor manufacturing.
The company designs, manufactures, and sells transmission systems (axles, transmissions, and drives) primarily for agricultural and construction equipment for off-highway vehicles. It also offers a wide range of gears for various sectors, including automotive, trucks agricultural, and construction vehicles.
The company owns and operates two manufacturing plants in Pune, Maharashtra, India. The driveline manufacturing plant occupies a plot area of approximately 84,000 square meters, while the gear manufacturing plant covers an area of approximately 78,000 square meters.
The driveline plant has technologies including casting, machining, assembly, prototyping, testing, and painting. The gears plant features machining and heat treatment technologies such as carburizing, induction, hardening, and nitriding.
Products:
- Agricultural tractors: They manufacture axles and transmission systems for agricultural tractors which include special requirements on technical specifications, use cases, and mechanical and structural design.
- Construction vehicles: They manufacture gears and transmission systems for backhoe loaders, compact wheel loaders, telehandlers, cranes, forklifts, aerial working platforms, etc.
- Others: They manufacture a diverse range of products beyond their core offerings of axles and transmissions for agricultural and construction equipment, which include additional products such as gears, shafts, and ring gears for industrial and automotive vehicles.
The company has developed expertise in the agricultural tractor and construction vehicle industry in India and has established a network of 220 suppliers across eight states in India, along with 58 suppliers internationally.
As of September 30, 2024, the company’s local quality and after-sales team consisted of 87 full-time employees and 53 contractual temporary employees.
Competitive Strengths:
- Tier 1 suppliers of transmission systems and a key supplier of axles in India’s agricultural tractor and construction vehicle industries with competitive moats for mission-critical and complex driveline components.
- Customer-centric offering of customized solutions to a longstanding OEM customer base
- Longstanding relationships with marquee local and international supplier base
- Strong, in-house R&D capabilities with proprietary IP rights to facilitate innovation of future-ready products
- Technologically advanced manufacturing plants with large production capacities and in-house gear production capabilities
Company Financials
Carraro India Limited Financial Information (Restated Consolidated)
Carraro India Limited’s revenue increased by 4% and profit after tax (PAT) rose by 29% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 1,093.41 | 1,072.89 | 1,072.39 | 1,012.44 |
| Revenue | 922.74 | 1,806.55 | 1,733.3 | 1,520.05 |
| Profit After Tax | 49.73 | 62.56 | 48.46 | 22.43 |
| Net Worth | 419.44 | 369.82 | 337.38 | 292.49 |
| Total Borrowing | 195.78 | 212.55 | 188.33 | 178.14 |
Key Performance Indicator
The market capitalization of Carraro India IPO is Rs 4002.35 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 17.69% |
| ROCE | 19.35% |
| Debt/Equity | 0.58 |
| RoNW | 16.92% |
| PAT Margin | 3.50 |
Check Carraro India IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.00 | 17.50 |
| P/E (x) | 63.97 | 40.24 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2024 that is available in RHP.
Objects of the Issue (Carraro India IPO Objectives)
The Company will not receive any proceeds from the Offer and all the Offer Proceeds will be received by the Promoter Selling Shareholder after deduction of Offer related expenses and relevant taxes thereon, to be borne by the Promoter Selling Shareholder.
Sorry, we couldn’t find the subscription details. Note that the bidding starts at 10 AM and ends at 5 PM on the days when the public issue is open.
Carraro India IPO Prospectus
Carraro India Limited Contact Details
Carraro India Limited
B2/ 2 MIDC,
Ranjangaon,
Pune 412 220 Maharashtra,
Phone: +91 2138 662666
Email: company_secretary@carraroindia.com
Website: https://www.carraroindia.com/
Carraro India IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: carraro.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html