Carraro India Limited IPO

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Auto Components & Equipments

Listed On: Dec 30, 2024 at ₹ 651.0(NSE)

₹ 14784 /21 Shares

Check Allotment

20 Dec, 2024

Open Date

24 Dec, 2024

Close Date

26 Dec, 2024

Allotment Date

30 Dec, 2024

Listing Date

Price Summary

Last Closing

482.85 (-31.41%)

52 Week High

692.40

52 Week Low

253.15

Last Update

28-Oct-2025 3:30 PM

Carraro India IPO Issue Details

Issue Price ₹668-704 per equity share
Face Value ₹10 Per Equity Share
Total Issue Size 1,77,55,680 shares(aggregating up to ₹1250 crore)
Offer For Sale 1,77,55,680 shares(aggregating up to ₹1250 crore)
Listing at BSE, NSE
List Price 651.0(NSE)
Listing Date 2024-12-30
Lead Manager Axis Bank Limited
Bnp Paribas
Nuvama Wealth Management Limited
Registrar Link Intime India Private Ltd

Market Lot Size

Investors can bid for a minimum of 21 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (min)	1	21	₹14,784
Retail(max)	13	273	₹1,92,192

Carraro India IPO Reservation

Carraro India IPO offers total 1,77,55,682 shares. Out of which 35,51,138 (20%) allocated to QIB, 26,63,352 (15%) allocated to NII,62,14,489 (35%) allocated to RII, NA (NA%) allocated to employees and 53,26,703 (30%) allocated to Anchor investors.

Investor Category	Shares Offered	Maximum Allottees
Anchor Investor Shares Offered	53,26,703 (30%)
QIB Shares Offered	35,51,138 (20%)
NII (HNI) Shares Offered	26,63,352 (15%)
bNII < ₹10L	17,75,568 (10%)
sNII < ₹10L	8,87,784 (5%)
Retail Shares Offered	62,14,489 (35%)
Total Shares Offered	1,77,55,682 (100%)

Carraro India IPO Documents

DRHP

RHP

ANCHOR

Carraro India IPO Details

Carraro India IPO is a book-built issue of ₹1250 crores, The total issue size is ₹1250 crores. The IPO of Carraro India is priced at ₹668-704 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Dec 20, 2024 and ends on Dec 24, 2024. The allotment for Carraro India IPO will be finalized on Dec 26, 2024. Carraro India IPO will be listed on BSE, NSE, with a tentative listing date fixed as Dec 30, 2024. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 21 shares, extendable to 14,784. The book-running lead manager for the IPO is/are Axis Bank Limited, Bnp Paribas, Nuvama Wealth Management Limited.

The total issue ₹1250 crore and having Offer for Sale (OFS) of 1,77,55,680 shares to mop up ₹1250 crore.

The Carraro India IPO sets its price band at 668-704 for each share. A single application for Carraro India Limited IPO must contain at least 21 shares. Sentiment investors need to invest a minimum of 21 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,784

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	35,51,138	26,63,352 17,75,568 8,87,784	62,14,489	1,24,28,979
Day 1 20-12-24 05:00 PM	0.00 x	0.06 0.04 x 0.10 x	0.15 x	0.09 x
Day 2 23-12-24 05:00 PM	0.00 x	0.20 0.14 x 0.32 x	0.35 x	0.22 x
Day 3 24-12-24 05:00 PM	2.21 x	0.60 0.42 x 0.96 x	0.71 x	1.12 x

Total No of Applications

1,93,137

Subscription on the basis of Applications

Retail:0.6x BHNI:0.07x SHNI:0.93x

Carraro India Valuations

EPS Pre IPO ₹11.0/-

EPS Post IPO ₹17.50/-

P/E Pre IPO 63.97

P/E Post IPO 40.24

ROE 17.69%

ROCE 19.35%

Debt/Equity 0.58

RoNW 16.92%

PAT Margin 3.50

Carraro India Company Financials

In Crs.

In Cr.

	30-Sep-24	31-Mar-24	31-Mar-23	31-Mar-22
Assets	1,093.41	1,072.89	1,072.39	1,012.44
Revenue	922.74	1,806.55	1,733.30	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

About Carraro India Company

Incorporated in 1997, Carraro India Ltd is a leading manufacturer of transmission systems (axles, transmissions, and drives) and components for agricultural tractors and construction vehicles. The company also produces gears, shafts, and ring gears for industrial and automotive applications.

Carraro India operates two high-tech plants in Pune, Maharashtra—an 84,000 sq. m. driveline plant and a 78,000 sq. m. gear plant—utilizing machining, casting, assembly, and heat treatment.

Backed by a robust supply network consisting of 220 domestic and 58 international suppliers, the company is famous for precision manufacturing and expertise in the off-highway vehicle sector. As on September 30, 2024, Carraro India has 87 full-time employees and 53 contractual ones.

Carraro India - Promoter(s)

Tomaso Carraro

Enrico Carraro

Carraro S.p.A

Carraro International S.E

Pre Issue Share Holding : 100%

Post Issue Share Holding : 68.77%

Carraro India IPO - Issue 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.

Carraro India IPO - Anchor Investors

Auto parts maker Carraro India mobilises Rs 375 crore via anchor book.

Aditya Birla Sun Life AMC, HSBC Mutual Fund, UTI AMC, Sundaram Mutual Fund, Motilal Oswal AMC, Edelweiss, LIC Mutual Fund, Bank of India Mutual Fund, JM Financial MF, and Trust Mutual Fund are the 10 domestic fund houses participated in the anchor book.

Apart from them, Societe Generale, Amundi Funds, Kotak Mahindra Life Insurance, Bajaj Allianz Life Insurance, Reliance Nippon Life Insurance, Tata AIA Life Insurance, SBI General Insurance, Nuvama, Copthall Mauritius, and Apah Capital Master Fund also invested in the Indian unit of Carraro Group.

Carraro India IPO - Peers Comparison

Company Name	EPS (Basic)	EPS (Diluted)	NAV (per share) (Rs)	P/E (x)	RoNW (%)	P/BV Ratio	Financial statements
Carraro India Limited	11	11	65.05	63.97	16.92	10.83	Consolidated
Escorts Kubota Limited	96.8	96.64	830.45	43.21	11.43	3.35	Consolidated
Schaeffler India Ltd	57.5	57.5	307.44	74.22	18.71	9.16	Consolidated
Sona BLW Precision Forgings Limited	8.83	8.83	47.75	76.93	18.49	15	Consolidated
Happy Forgings Limited	26.78	26.75	171.17	47.08	15.07	5.2	Consolidated
Action Construction Equipment Ltd.	27.56	27.56	307.44	50.56	26.69	3.77	Consolidated
Ramakrishna Forgings Limited	20.27	20.09	148.48	42.82	12.72	N/A	N/A

Notes:

Financial information of the Company has been derived from the Restated Consolidated Financial Information as of or for the financial year ended March 31, 2024.
All the financial information for listed industry peer is on a consolidated basis and is sourced from the financial information of such listed industry peer available on the website of the stock exchanges, as of and for year ended March 31, 2024, except Schaeffler India Ltd as of and for year ended December 31, 2023.
P/E Ratio for the listed industry peer has been computed based on the closing market price of equity shares, on BSE for peers, as of July 31, 2024, divided by the diluted EPS for the respective year end.
Return on Net Worth (in %) is calculated as profit after tax for the year divided by the Net Worth at the end of the respective year.
Net Asset Value per Equity Share represents Net Worth as at the end of the year divided by number of Equity Shares outstanding at the end of the year.

Strength

Carraro India Limited is a leading supplier of axles and transmission systems.

Strong customer base with longstanding relationships in agricultural and construction markets.

Proprietary R&D capabilities drive innovation in mission-critical driveline components.

Carraro India’s two plants in Pune offer advanced manufacturing capacities.

Weakness

Heavy reliance on top customers, contributing 69.55% of revenue.

Dependence on Carraro Group for sourcing, procurement, and operations support.

Seasonal agricultural tractor business leads to potential fluctuations in revenue.

Contact Details

Carraro India

B2/ 2 MIDC,Ranjangaon, Pune 412 220 Maharashtra

+91 2138 662666

company_secretary@carraroindia.com

https://www.carraroindia.com/

Registrar Contact Details

Link Intime India Private Ltd

+91-22-4918 6270

carraro.ipo@linkintime.co.in

https://linkintime.co.in/initial_offer/public-issues.html

Carraro India IPO - FAQs

Ans. Carraro India Limited IPO is a Mainboard IPO. The issue is priced at ₹668-704 per equity share. The minimum order quantity is 21 Shares. The IPO opens on Dec 20, 2024, and closes on Dec 24, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Carraro India Limited IPO opens on Dec 20, 2024 and closes on Dec 24, 2024.

Ans. You can track the real-time subscription numbers using the links below:

Ans. The size of Carraro India Limited IPO is OFS : 1,77,55,680 shares of ₹10(aggregating up to ₹1,250.00 Cr).

Ans. The Carraro India Limited IPO price band is set between ₹668-704 per equity share.

Ans. To apply for Carraro India Limited IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Carraro India Limited IPO in the List of IPOs
- Press Apply Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Carraro India Limited IPO is Dec 26, 2024.

Ans. The Carraro India Limited IPO will be listed on Dec 30, 2024.

Ans. Follow the steps to check the Carraro India Limited IPO allotment status online.