Carraro India IPO

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.

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 Details

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.

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.

About Carraro India 

Incorporated in 1997, Carraro India 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:

Technologically advanced manufacturing plants with large production capacities and in-house gear production capabilities

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

Carraro India Financial Information

Carraro India IPO Reservation

Carraro India IPO Timeline (Tentative Schedule)

Carraro India IPO opens on December 20, 2024, and closes on December 24, 2024.