CARRARO INDIA LIMITED

Price Band

₹ 668 - ₹ 704

Bid Lot

21 Shares

CARRARO INDIA LIMITED

20-Dec-2024 - 24-Dec-2024

Price Band

₹ 668 - ₹ 704

Minimum Investment

₹ 14784.00

Bid Lot

21 Shares

Shares

17,755,682

IPO Details

Offer for Sale of Equity Shares aggregating upto Rs. 1,250 Cr

QIB
50%

(8,877,840 Shares)RS.625.00 CR

HNI 1
5%

(887,784 Shares)RS.62.50 CR @ 3020 FORM 1X

HNI 2
10%

(1,775,569 Shares)RS.125.00 CR @ 6039 FORM 1X

Retail
35%

(6,214,489 Shares)RS.437.50 CR @ 295928 FORM 1X

BRLMs: Axis Capital, BNP Paribas, Nuvama Wealth

Timeline

  • 20

    Dec-2024

    Open Date

  • 24

    Dec-2024

    Close Date

  • 26

    Dec-2024

    Basis of Allotment Date

  • 27

    Dec-2024

    Initiation of Refunds

  • 27

    Dec-2024

    Credit of Shares to Demat A/C

  • 30

    Dec-2024

    IPO Listing Date

Subscription as on 24-Dec-2024 15:18

Category

Book Size

Subscription

QIB

2.00x
3,551,136

(₹250.00 Cr.)

7,107,786

(₹500.39 Cr.)

HNI (<10 LAKH)

0.86x
887,784

(₹62.50 Cr.)

759,633

(₹53.48 Cr.)

HNI2 (>10 LAKH)

0.40x
1,775,569

(₹125.00 Cr.)

718,431

(₹50.58 Cr.)

RETAIL

0.64x
6,214,489

(₹437.50 Cr.)

3,984,771

(₹280.53 Cr.)

Total

1.01x
12,428,978
12,570,621

Category

Book Size

Subscription

QIB

2.00x
3,551,136

(₹250.00 Cr.)

7,107,786

(₹500.39 Cr.)

HNI (<10 LAKH)

0.86x
887,784

(₹62.50 Cr.)

759,633

(₹53.48 Cr.)

HNI2 (>10 LAKH)

0.40x
1,775,569

(₹125.00 Cr.)

718,431

(₹50.58 Cr.)

RETAIL

0.64x
6,214,489

(₹437.50 Cr.)

3,984,771

(₹280.53 Cr.)

Total

1.01x
12,428,978
12,570,621

*Excluding Anchor

Total No. of Application Approx : ~173574 (0.59 Appwise)

HNI Cost

About Company

  • Carraro India was incorporated on April 11, 1997. Carraro India is one of the leading independent Tier 1 suppliers of axles, transmission systems and gears for the agricultural tractor and construction vehicle industries in India. Carraro India, the Indian subsidiary of the Carraro Group, is a major global player in the driveline systems industry, particularly for off-highway vehicles like tractors and construction vehicle.

  • Carraro India’s foray into the Indian market began in 1997 when it established a manufacturing centre in Pune, India, through a joint venture with Escorts Ltd., In the following years, a second plant was also established for the production of gears and components. Carraro India has since acquired 100% ownership of its manufacturing facilities.

  • The Company commenced production of transmission systems in 1999, followed by the manufacturing of axles in 2000, marking its entry into the Indian automotive components industry.

  • The Company’s comprehensive service offering sets it apart from other players in the Indian market. It’s ability to provide a seamless, end-to-end experience for its customers - from initial design and customization to material procurement, in-house manufacturing, supply chain management, delivery, and after-sales service - is a key differentiator.

  • Carraro India is one of the leading suppliers in the market supplying key OEMs such as Mahindra Farm division and Swaraj, Tata Hitachi, Escorts Kubota Ltd., Sonalika, Bull Machine, TAFE, ACE, John Deere India Pvt Ltd, Caterpillar, Doosan and CNH across the agricultural and construction vehicle manufacturing sector.

  • As of March 31, 2024, the Company has established itself as the market leader in providing transmission systems for tractors transmission systems up to 150 horsepower and four-wheel-drive capabilities.

  • In August 2022, Carraro India inaugurated a new portal axle assembly capable of producing over 42,000 pieces per year to take care of Carraro India’s customer demand with market shift from 2WD to 4WD in 35HP to 50 HP tractor range.

  • In November 2023, Carraro India developed the eT50/eT75 Transaxle. The eT50/eT75 Transaxle has a power rating of 75HP, making it suitable for various agricultural applications.

Strengths

Competitive Strength

  • One of the leading tier 1 suppliers of transmission systems and a key supplier of axles in the agricultural tractor and construction vehicle industries in India with competitive moat 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;

  • Stable and experienced senior management team with strong industry knowledge and proven track record of growing the business and achieving margin optimization.

Business Strategies

  • Maintain the strong positioning in axles and transmission systems with an aim to secure market position;

  • Drive the growth through introduction of new products and product application innovation;

  • Develop future-ready solutions for emerging technologies and potential entry into new market segments;

  • Enhance and expand the production capabilities in India;

  • Increase share of localization and further improving efficiencies of the supply chain.

Company Promoters

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
Amount in ? Crore

Objects of the Issue

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.

How to Apply

Apply for IPO in few simple steps.

  • Step 1

    Once you create your account, Login to Easy Investing.

  • Step 2

    Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.

  • Step 3

    Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).

  • Step 4

    Enter your UPI ID and you will receive mandate on your UPI App.

  • Step 5

    Once you accept the mandate, Application is submitted successful.

  • Applying for an IPO is easier than ever with Easy Investing, in just a few clicks your application is processed. You can bid for any IPO through Easy Investing, the bidding process is simple and hassle free. Every company has a lot size decided & you can buy in multiples of the decided lot.
  • If lot size is 15, then you have to bid for multiples of 15 share like 30,45,60 and so on.
  • The maximum subscription amount for retail investors is 2 lakh.
  • Any bid can be at a desired price or cut off price given by the company.

  • Enter the number of shares you wish to buy, as per the lot size.
  • You can apply at the cut off price set by the company or bid for a desired amount within the price band.
  • Maximum three bids will be accepted.
  • You then need to enter the UPI ID on Easy Investing’s IPO application form.

  • You will immediately get a fund blocked request on your UPI for the submitted IPO application.
  • The funds will be blocked in your bank account until allotment when it is debited.
  • The limit for IPO application is Rs 2 lakh per transaction on UPI.
  • On allotment of the shares, the money will be automatically debited.
  • If the share aren’t allotted the blocked funds will reflect back into your account.

FAQs

Frequently Ask Question

Check Allotment
Message!!

Your file has been successfully uploaded.