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TCS, HDFCBANK, SBI Liquid Fund (G)
Carraro India Ltd.

CARRARO

Equity

NSE,BSE

Min. Investment

6,68,000.00

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IPO Details

Bidding Dates

20 Dec 24 - 24 Dec 24

Price Range ₹

668 - 704

Total Equity

922.16Cr

Lot Size

21

Exchange Status

NSE,BSE

IPO Doc

Subscription Rate

Non-Institutional Investor

0.71×

Qualified Institutional Buyers

2.21×

Employees

0.00×

Retail Investors

0.71×

Total subscription Rate

1.12×

IPO Timeline

Offer start

20 Dec 2024

Offer end

24 Dec 2024

Allotment

26 Dec 2024

Refund initiation

27 Dec 2024

Demat transfer

27 Dec 2024

Listing

30 Dec 2024

About Company

Founded in 1997, Carraro India Ltd. is a key manufacturer of transmission systems, including axles, drives, and gears, for agricultural and construction vehicles. The company also produces gears for sectors like automotive and industrial equipment. Operating two advanced manufacturing plants in Pune, spanning 84,000 and 78,000 square meters, it employs cutting-edge technologies for casting, machining, assembly, and heat treatment. Carraro India’s portfolio includes axles and transmissions for agricultural tractors and gears for construction equipment such as backhoe loaders and forklifts. It also manufactures gears, shafts, and ring gears for broader industrial and automotive applications. Supported by a network of 220 local and 58 international suppliers, it ensures efficient operations and after-sales service through its dedicated workforce. The company’s competitive edge lies in its Tier 1 supplier status, strong OEM relationships, advanced R&D capabilities, and high-tech production facilities, positioning it as a leader in India’s agricultural and construction vehicle markets.

Year Founded

11-04-1997

Promotor Details

Ettore Francesco Sequi

Promoter Holdings Details

ParticularPre-IPOPost-IPO
Percentage10068.77
Share Capital5685153839095857

Offer to Public

1,30,98,803.00 Cr

Project Details

  • None - Nonecr

Objectives

  • (i) carry out the Offer for Sale of [?] Equity Shares of face value of ? 10 each aggregating up to ? 18,52 million by the Promoter Selling Shareholder(ii) achieve the benefits of listingthe Equity Shares on the Stock Exchanges.

Highlights

  • Leading Tier-1 supplier of axles and transmission systems in India.
  • Strong market position with a 60-65% share in construction transmissions.
  • Early-mover advantage with 27 years of operations in the Indian market.
  • Robust R&D capabilities with a focus on proprietary IP and innovation.
  • Technologically advanced manufacturing plants with high production capacity.

Challenges

  • Top 10 customers contributed 86.29% of revenue in FY2024, indicating high customer concentration risk.
  • Dependence on Carraro Group for 34.28% of total revenue exposes the business to significant dependency risks.
  • Related party transactions require substantial capital investment without guaranteed returns.
  • Potential product defects may result in costly recalls and reputational damage.
  • Disruptions at Pune plants could severely impact operations and production.

Financials

YearsTotal AssetsShare CapitalProfit After TaxConsolidated Net ProfitAdjusted EPS
202211,525.12568.525,57,68,852.005,57,68,852.000.9814
202312,240.08568.529,90,34,700.009,90,34,700.002.4759
202412,593.17568.5226,16,80,430.0026,16,80,430.004.6049
202010,12,71,36,000.0056,85,15,400.00605.81605.8110.6559
202188,148.905,685.15NaN0.00None
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