Carraro India is into Automobile Agricultural and Construction Equipments sector and is looking raise funds through Offer for Sale
IPO Summary
Carraro India IPO is a public offering of shares by Tomaso Carraro, Enrico Carraro, Carraro S.p.A. and Carraro International S.E.. The IPO will open on December 20 and will close on December 24. The price band is ₹668 to ₹704 per share and the lot size is 21 shares. The issue size is ₹1,250. crore. The shares are expected to be listed on NSE, BSE on December 30 (^). Some additional information that you may find useful are: Revenue for 6MFY25 at Rs914.6 cr (v/s 961.0 cr in 6MFY24 and Rs1789 cr / Rs1713 cr in FY24/FY23) | EBITDA for 6MFY25 at Rs101 cr (v/s Rs66.1 cr in 6MFY24 and Rs150 cr / Rs125 cr in FY24/FY23) | PAT for 6MFY25 at Rs49.7 cr (v/s Rs24.9 cr in 6MFY24 and Rs62.5 cr / Rs48.4 cr in FY24/FY23): (**) - based on higher price band (^) indicative datePromoters of the company are Tomaso Carraro, Enrico Carraro, Carraro S.p.A. and Carraro International S.E. Currently promoters hold 100% stake in the company. While post-equity promoters stake will be 68.77%
- Company aims to raise between Rs 1,250 to 1,250 crs through this IPO.
- The net proceeds of the issue will be utilized to Company will not receive any proceeds from the Offer. The objects of the Offer are to (i) achieve the benefits of listing the Equity Shares on the Stock Exchange (ii) carry out the Offer for Sale (OFS)
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 19-Dec-24.
- Price band for the IPO has been fixed at Rs 668 to 704 per share and bid lot are in multiple of 21 shares. The implied market cap post-issue at Rs 3,798 to 4,002 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on December 26 and share are expected to be listed on NSE, BSE on December 30.
- Company has direct peer competition in India'a Automobile Manufacturing Industry. In Listed space peers include Escorts Kubota, Sona BLW Precision Forgings, Ramakrishna Forgings, Happy Forgings, Action Construction Equipment among others.
- Axis Capital, BNP Paribas, Nuvama Wealth Management has been appointed as Merchant Banker to the issue. Link Intime India Pvt. Ltd. has been appointed as official registrar of the issue.
- Company has not undertaken Pre-IPO placement.
Key Pointers of Carraro India IPO:
| Carraro India limited IPO Snapshot | UdhyamPitch on X | |||
|---|---|---|---|
| Established | City | Sector | Sub-Sector |
| 1997 | Pune | Automobile | Agricultural and Construction Equipments |
| Issue | Issue Type | Tentative Listing Date | Listing at |
| IPO (OFS) | Book Building | 30-Dec-24 | NSE, BSE |
| IPO Dates | Price Band (Rs/sh) | Face Value (Rs/sh) | Min Lot Qty |
| 20-Dec-24 to 24-Dec-24 | ₹ 668 to 704 per sh | ₹ 10 per sh | 21 sh and in multiples |
| Retail App (min) | Retail App (max) | Non-Retail (Rs2-10L App) | Non-Retail (>Rs10L min App) |
| 21 shares ₹ 14,784 | 273 shares up to ₹ 192,192 | 294 to 1,407 shares ₹ 206,976 to 990,528 | 1,428 shares and above ₹ 1,005,312 and above |
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
About Carraro India limited
Established in 1997, Carraro India is a Automobile OEM supplier of engineering products and solutions. It supplies axles, transmission systems and gears of different HP ranges for off-highway vehicles in the agricultural tractor and construction vehicle sectors, as well as gears, shafts and ring gears for industrial and automotive vehicles. Company is promoted by Tomaso Carraro, Enrico Carraro, Italy based Carraro S.p.A. and Luxembourg based Carraro International S.E.
Company own and operate two manufacturing plants in Pune, Maharashtra, India with blended utilisation capacity of 71.4% in 6MFY25 (v/s 89.9%/93.2% in FY24/FY23).
Revenue for 6MFY25 at Rs914.6 cr (v/s 961.0 cr in 6MFY24 and Rs1789 cr / Rs1713 cr in FY24/FY23) | EBITDA for 6MFY25 at Rs101 cr (v/s Rs66.1 cr in 6MFY24 and Rs150 cr / Rs125 cr in FY24/FY23) | PAT for 6MFY25 at Rs49.7 cr (v/s Rs24.9 cr in 6MFY24 and Rs62.5 cr / Rs48.4 cr in FY24/FY23)
About Industry
According to Markets and Markets, the global and Indian off-highway markets encompass construction vehicles and agricultural equipment (including tractors) segments. Global sales of construction vehicles and agricultural tractors are projected to increase from 3,560,000 units in CY2023 to 4,640,000 units by CY2029. According to Markets and Markets, the agricultural tractors volume in India grew at CAGR of 5.9% from 804,000 units in CY2019 to 1,011,700 units in CY2023. The sales volume of construction vehicles in India increased at CAGR of 4.2% from 92,500 units in CY2019 to 109,000 units in CY2023 and is expected to grow at CAGR of 5.0% from CY2024 to CY2029.
| Carraro India limited IPO Dates | UdhyamPitch on X | |
|---|---|
| Anchor Open | 19-Dec-24 |
| IPO Open | 20-Dec-24 |
| IPO Close | 24-Dec-24 |
| Allotment | 26-Dec-24 |
| Credit of Shares | 27-Dec-24 |
| Refund | 27-Dec-24 |
| Listing | 30-Dec-24 |
| Anchor Investor Lockin (50% of Anchor book investment) | |
| Anchor Investor Lockin (Balance 50% of Anchor book investment) | |
Kindly note UPI Mandate deadline is 5:00 pm IST on closing date. To avoid last minute issue, request you to approve UPI mandate before 4:00 pm IST on last day. In case, UPI mandate has not been approved during the prescribed time period, applications are liable to get rejected.
There are highly chances of variation in dates. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| Carraro India limited IPO - Management Details: | |
|---|---|
| Ettore Francesco Sequi, Chairman and Executive Director | |
| Balaji Gopalan, Managing Director | |
| Tomaso Carraro, Vice-Chairman and Non-Executive Director | |
| Davide Grossi, Whole time Director and Chief Financial Officer | |
| Jui Bhargave, Company Secretary and Compliance Officer | |
Visit DRHP / RHP for more details on Board of Directors and Management details.
| Carraro India limited IPO - Details of Offer/Issue Breakup | UdhyamPitch on X | |||||
|---|---|---|---|---|---|
| Category | Quota (%) | No of Shares-Lower | No of Shares-Upper | Value (Rs Cr)-Lower | Value (Rs Cr)-Upper |
| QIB (Incl Anchor) | 50 | NA | 8,877,841 | NA | 625. |
| Non-Retail (NII) | 15 | NA | 2,663,352 | NA | 187.5 |
| Non-Retail (NII): >Rs10L | NA | 1,775,568 | NA | 125. | |
| Non-Retail (NII): Rs2L-Rs10L | NA | 887,784 | NA | 62.5 | |
| Retail | 35 | NA | 6,214,489 | NA | 437.5 |
| Employee | NA | . | . | ||
| Shareholder | NA | . | . | ||
| NA=Not Available or Not Calculated | Upper= Upper Price Band | Lower=Lower Price Band | |||||
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
Check IPO Allotment status of Carraro IndiaIPO:
| Carraro India limited - Anchor Lockin Dates and Details | |
|---|---|
| Anchor Investor Lockin (50% of Investment for 30 days) release of | |
| Anchor Investor Lockin (Balance Investment for 90 days) release of | |
Above information is automatically calculated based on estimations. Chances of errors/changes could be possible due to holidays and/or other conditions. Users are requested to Visit BSE, NSE, SEBI for more information or contact the Company/Merchant Banker/RTA for more information.
| Carraro India limited - Documents | |
|---|---|
Disclaimer:
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| Source: SEBI, BSE, NSE |
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