IPO Details

Bidding Dates

To be announced

Minimum Investment

To be announced

Price Range

To be announced

Maximum Investment

To be announced

Retail Discount

To be announced

Issue Size

₹1,811.65 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |   Eligible employees  |  

About Carraro India IPO

Carraro India Limited is planning an Initial Public Offering (IPO) of equity shares with a face value of ₹10 each. The offer is expected to aggregate up to ₹1,811.65 crores. This IPO includes an Offer for Sale (OFS) by Carraro International S.E., the promoter-selling shareholder, involving the sale of equity shares that will constitute a certain percentage of the post-offer paid-up equity share capital of the company.

The exact percentage, number of equity shares, and the offer price will be determined later. The offer price will be multiple times the face value of ₹10 per equity share, and the final price band, along with the minimum bid lot, will be decided by the company.

This IPO aims to raise significant capital, and the details regarding the allocation and pricing will be revealed closer to the offering date as the company seeks to strengthen its market presence and capitalise on growth opportunities.

Industry Outlook:

  1. India's construction vehicle market grew at a 4.2% CAGR from 2019-2023 and is projected to grow at 5.0% CAGR from 2024-2029.
  2. Indian agricultural tractor market expanded at a 5.9% CAGR from 2019-2023, with tractor components expected to grow at 8.6% CAGR from 2024-2029.

Carraro India IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Carry out the Offer for Sale of equity shares aggregating up to ₹18,116.52 million by the Promoter Selling Shareholder.
  2. Achieve the benefits of listing the equity shares on the stock exchanges.

About Carraro India Limited

Carraro India Limited is a technology-driven integrated supplier specialising in the development of complex engineering products and solutions for original equipment manufacturers (OEMs) in the agricultural tractor and construction vehicle industries.

As an independent Tier 1 provider, the company offers a full range of axles, transmission systems, gears, and related components, with in-house product design and manufacturing capabilities. Founded in 1997, Carraro India leverages the expertise of its parent company, Carraro S.p.A., to deliver mission-critical components for off-highway vehicles.

The company operates two state-of-the-art manufacturing plants in Pune, Maharashtra, equipped with advanced technologies for casting, machining, assembly, and heat treatment. With a strong R&D foundation bolstered by the acquisition of Carraro Technologies India Private Limited (CTIPL) in 2024, Carraro India continues to innovate and provide customised, high-quality solutions, ensuring a competitive edge in the Indian market.

Peer Details

The companies considered by Carraro India as its peers include:

  1. Escorts Kubota Limited
  2. Schaeffler India Limited
  3. Sona BLW Precision Forgings Limited
  4. Ramakrishna Forgings Limited
  5. Happy Forgings Limited
  6. Action Construction Equipment Limited

How to Check the Allotment Status of the Carraro India IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How to apply for Carraro India IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Carraro India IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Carraro India IPO

  • Registered office: B2/2 MIDC, Ranjangaon, Pune 412 220, Maharashtra, India
  • Phone: +91 2138 662666
  • E-mail: company_secretary@carraroindia.com

IPO Financials

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ million) 17,704.54 16,951.17 14,815.62
Profit After Tax (PAT) (in ₹ million) 605.81 468.01 207.69
Current Ratio (x) 1.31 1.32 1.17
Net Worth (in ₹ million) 3,851.85 3,458.73 3,027.70
Total Borrowings (in ₹ million) 2,125.46 1,883.30 1,781.38
Return on Equity (%) 16.57% 14.43% 7.07%
Return on Capital Employed (RoCE) (%) 18.32% 15.62% 9.30%
Earnings Per Share (in ₹) 10.66 8.23 3.65

Know before investing

Strengths

6

  1. Leading tier 1 supplier of axles and transmission systems in India.

  2. Strong market position with 60-65% share in construction transmissions.

  3. Early-mover advantage with 27 years in Indian market operations.

  4. Robust R&D capabilities with proprietary IP and innovation focus.

  5. Technologically advanced manufacturing plants with high production capacity.

  6. Longstanding relationships with domestic and international OEM customers.

Risks

6

  1. Top 10 customers contributed 86.29% of revenue in FY2024.

  2. Dependence on Carraro Group for 34.28% of total revenue.

  3. Related party transactions require significant capital without guaranteed returns.

  4. Potential product defects could lead to costly recalls.

  5. Disruptions at Pune plants may severely impact operations.

  6. Reliance on limited suppliers poses supply chain risks.

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Carraro India IPO FAQs

What is the Carraro India IPO?

Carraro India IPO is a book-built IPO. The exact dates and price range have yet to be announced.

When will the Carraro India IPO be allotted?

The date of the basis of allotment has not yet been announced.

When will the Carraro India IPO open for subscription?

The IPO subscription window is not announced yet.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is yet to be announced.

When will the Carraro India list on exchanges?

The exact date is not announced yet.

What would be the listing gains on the Carraro India IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting a Carraro India IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for the Carraro India IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Carraro India Limited using one PAN?

You can submit only one application using your PAN card.

How to read Carraro India Limited's financial statements?

To read Carraro India’s financial statements, download the IPO’s  RHP document.