Carraro India IPO is a book-built issue aiming to raise ₹1,250.00 crores through an offer for sale (OFS) of 1.78 crore shares. The IPO will open for subscription on December 20, 2024, and close on December 24, 2024. The allotment is scheduled for December 26, 2024, and the listing will take place on the BSE and NSE with a tentative date of December 30, 2024.
The IPO price band is set at ₹668 to ₹704 per share. Retail investors can apply with a minimum investment of ₹14,784 for one lot (21 shares). For small High Net-Worth Individuals (sNII), the minimum investment is ₹2,06,976 for 14 lots (294 shares), while for big High Net-Worth Individuals (bNII), it is ₹10,05,312 for 68 lots (1,428 shares). The IPO reserves 35% of the shares for retail investors, 50% for Qualified Institutional Buyers (QIB), and 15% for High Net-Worth Individuals (HNI).
The company reported revenue of ₹1,806.55 crores in 2024, compared to ₹1,733.3 crores in 2023. Similarly, profits grew to ₹62.56 crores in 2024 from ₹48.46 crores in 2023. These figures reflect steady growth, making Carraro India IPO a promising opportunity for long-term investors. For detailed information on the IPO allotment status of Carraro India, including how to check your allotment, visit our Carraro IPO Allotment Status
Explore the detailed IPO review of Carraro India, and check here for insights into its listing gains and current market price. This comprehensive overview provides valuable information on how the stock performed post-listing, including its price movements and factors influencing its gains. For a deeper understanding of Carraro India’s market debut
Overview of Contents
About Carraro India IPO
Incorporated in 1997, Carraro India Ltd specializes in manufacturing components such as axles, transmission systems, and gears for agricultural and construction equipment. The company operates two manufacturing plants in Pune, Maharashtra, with a driveline plant spanning 84,000 square meters and a gear manufacturing plant covering 78,000 square meters.
Carraro India’s products cater to sectors including agricultural tractors, construction vehicles like backhoe loaders and cranes, and a range of automotive and industrial gears. The company has built strong relationships with 220 suppliers across India and 58 international suppliers, and as of September 30, 2024, it employs 87 full-time and 53 temporary employees in its local quality and after-sales teams.
Carraro India’s competitive strengths lie in being a Tier 1 supplier of transmission systems and axles, offering customized solutions to a long-standing OEM customer base. The company’s strong R&D capabilities and proprietary IP rights drive innovation, supported by its technologically advanced manufacturing plants and large production capacities. With nearly 27 years of experience in India, Carraro India has established itself as a key player in the agricultural and construction vehicle industries, with the ability to meet complex and mission-critical demands in driveline components.
Carraro India IPO Details
| IPO Details | Information |
|---|---|
| IPO Open Date | December 20, 2024 |
| IPO Close Date | December 24, 2024 |
| Listing Date | December 30, 2024 (Tentative) |
| 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 |
| Pre-Issue Shareholding | 5,68,51,538 shares |
| Post-Issue Shareholding | 5,68,51,538 shares |
Carraro India IPO Dates
| IPO Event | Date |
|---|---|
| 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 interested in the Carraro India IPO can bid for shares in lots, with the minimum lot size set at 21 shares. The following table outlines the investment details for retail investors and high-net-worth individuals (HNIs), showing the minimum and maximum shares they can apply for, along with the corresponding investment amounts.
| Application Type | 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 |
- Retail Investors: The minimum investment for retail investors is ₹14,784, which includes 21 shares. The maximum investment is ₹1,92,192 for 273 shares.
- S-HNI (Small HNI): Small HNIs can apply for a minimum of 294 shares (14 lots) at ₹2,06,976, and up to 1,407 shares (67 lots) for ₹9,90,528.
- B-HNI (Big HNI): Big HNIs can apply for a minimum of 1,428 shares (68 lots) at ₹10,05,312.
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 Promoter Holding
The following table provides details on the Carraro India IPO promoter holding before and after the issue. The company is promoted by Tomaso Carraro, Enrico Carraro, Carraro S.p.A, and Carraro International S.E.
| Share Holding Pre Issue | 100.00% |
|---|---|
| Share Holding Post Issue | 68.77% |
- Pre-Issue Shareholding: Before the IPO, the promoters collectively held 100% of the company’s shares.
- Post-Issue Shareholding: After the issue, the promoter holding will decrease to 68.77%, as the IPO involves an offer for sale, reducing their stake.
Carraro India Limited Financial Information
| 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 |
Carraro India IPO Valuation – FY2024
| KPI | Values |
|---|---|
| ROE: | 17.69% |
| ROCE: | 19.35% |
| EBITDA Margin: | 8.30% |
| PAT Margin: | 3.50% |
| Debt to equity ratio: | 0.58 |
| Earning Per Share (EPS): | ₹11.00 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 16.92% |
| Net Asset Value (NAV): | ₹65.05 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Escorts Kubota Limited | 96.80 | 43.21 | 11.43% | 830.45 | – Cr. |
| Schaeffler India Limited | 57.5 | 74.22 | 18.71% | 307.44 | – Cr. |
| Sona BLW Precision Forgings Limited | 8.83 | 76.93 | 18.49% | 47.75 | – Cr. |
| Ramakrishna Forgings Limited | 20.27 | 42.82 | 12.72% | 148.48 | – Cr. |
| Happy Forgings Limited | 26.78 | 47.08 | 15.07% | 171.17 | – Cr. |
| Action Construction Equipment Limited | 27.56 | 50.56 | 26.69% | 307.44 | – Cr. |
Objects of the Issue
The company will not receive any proceeds from the offer. All proceeds from the offer, after deducting offer-related expenses and applicable taxes, will be received by the Promoter Selling Shareholder, who will bear these costs.
Carraro India IPO Registrar
Link Intime India Private Limited
Phone: +91-22-4918 6270
Email: carraro.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Company Address
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/
Conclusion
The Carraro India IPO presents a significant investment opportunity for retail investors and HNIs, with a price band set between ₹668 and ₹704 per share. The IPO, which opens for subscription on December 20, 2024 and closes on December 24, 2024, offers an offer for sale of 1.78 crore shares, raising up to ₹1,250 crore.
The company, a prominent player in the agricultural and construction equipment industry, has demonstrated strong growth and established a robust supply chain. With a 68.77% post-issue promoter holding, Carraro India is well-positioned for future growth.
However, investors should note that the proceeds from the offer will go entirely to the Promoter Selling Shareholder. As with any investment, potential investors should carefully consider their financial goals and risk appetite before participating in this IPO.
Carraro India IPO FAQs
What is the Carraro India IPO price band?
The price band for the Carraro India IPO is ₹668 to ₹704 per share.
When does the Carraro India IPO open and close?
The IPO opens for subscription on December 20, 2024, and closes on December 24, 2024.
What is the lot size for Carraro India IPO?
The minimum lot size for retail investors is 21 shares.
How much can retail investors invest in Carraro India IPO?
Retail investors can invest a minimum of ₹14,784 for 21 shares and a maximum of ₹1,92,192 for 273 shares.
Who are the promoters of Carraro India?
The promoters of Carraro India are Tomaso Carraro, Enrico Carraro, Carraro S.p.A, and Carraro International S.E.
What will the proceeds from the IPO be used for?
The company will not receive any proceeds from the IPO. All the proceeds will go to the Promoter Selling Shareholder, after deducting offer-related expenses and taxes.
When will Carraro India be listed?
The tentative listing date for Carraro India IPO is December 30, 2024.