Bookbuilding IPO | ₹1,250 Cr | Listed at BSE, NSE | Fri, Dec 20, 2024 - Tue, Dec 24, 2024
Carraro India IPO is a book build issue of ₹1,250.00 crores. The issue is entirely an offer for sale of 1.78 crore shares of ₹1,250.00 crore.
Carraro India IPO bidding started from Dec 20, 2024 and ended on Dec 24, 2024. The allotment for Carraro India IPO was finalized on Dec 26, 2024. The shares got listed on BSE, NSE on Dec 30, 2024.
Carraro India IPO price band is set at ₹704 per share. The lot size for an application is 21. The minimum amount of investment required by an retail is ₹14,784 (21 shares) (based on upper price). The lot size investment for sNII is 14 lots (294 shares), amounting to ₹2,06,976, and for bNII, it is 68 lots (1,428 shares), amounting to ₹10,05,312.
Axis Bank Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Carraro India IPO RHP for detailed Information.
IPO Open
Fri, Dec 20, 2024
IPO Close
Tue, Dec 24, 2024
Issue Price
₹704 per share
Market Cap (Pre-IPO)
₹4,002.35 Cr
| IPO Date | 20 to 24 Dec, 2024 |
| Listed on | Mon, Dec 30, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹668 to ₹704 |
| Issue Price | ₹704 per share |
| Lot Size | 21 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,77,55,681 shares (agg. up to ₹1,250 Cr) |
| Offer for Sale | 1,77,55,681 shares of ₹10 (agg. up to ₹1,250 Cr) |
| Share Holding Pre Issue | 5,68,51,538 shares |
| Share Holding Post Issue | 5,68,51,538 shares |
| BSE Script Code / NSE Symbol | 544320 / CARRARO |
| ISIN | INE0V7W01012 |
Carraro India IPO offers total 1,77,55,681 shares. Out of which 88,77,839 (50.00%) allocated to QIB, 35,51,136 (20.00%) allocated to QIB (Ex- Anchor), 26,63,353 (15.00%) allocated to NII 62,14,489 (35.00%) allocated to RII and 53,26,703 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 88,77,839 (50.00%) | NA |
| − Anchor Investor Shares Offered | 53,26,703 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 35,51,136 (20.00%) | NA |
| NII (HNI) Shares Offered | 26,63,353 (15.00%) | NA |
| − bNII > ₹10L | 17,75,569 (10.00%) | 6,039 |
| − sNII < ₹10L | 8,87,784 (5.00%) | 3,019 |
| Retail Shares Offered | 62,14,489 (35.00%) | 2,95,928 |
| Total Shares Offered | 1,77,55,681 (100.00%) |
Investors can bid for a minimum of 21 shares and in multiples thereof.
| Application | 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 |
Carraro India IPO raises ₹375.00 crore from anchor investors. Carraro India IPO Anchor bid date is December 19, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Dec 19, 2024 |
| Shares Offered | 53,26,703 |
| Anchor Portion (₹ Cr.) | 375.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Jan 24, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Mar 25, 2025 |
Incorporated in 1997, Carraro India Ltd is engaging in manufacturing components ranging from the smallest gear to complete tractor manufacturing.
The company designs, manufactures, and sells transmission systems (axles, transmissions, and drives) primarily for agricultural and construction equipment for off-highway vehicles. It also offers a wide range of gears for various sectors, including automotive, trucks agricultural, and construction vehicles.
The company owns and operates two manufacturing plants in Pune, Maharashtra, India. The driveline manufacturing plant occupies a plot area of approximately 84,000 square meters, while the gear manufacturing plant covers an area of approximately 78,000 square meters.
The driveline plant has technologies including casting, machining, assembly, prototyping, testing, and painting. The gears plant features machining and heat treatment technologies such as carburizing, induction, hardening, and nitriding.
Products:
The company has developed expertise in the agricultural tractor and construction vehicle industry in India and has established a network of 220 suppliers across eight states in India, along with 58 suppliers internationally.
As of September 30, 2024, the company's local quality and after-sales team consisted of 87 full-time employees and 53 contractual temporary employees.
Competitive Strengths:
| 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 |
| Total Income | 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 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | The company will not receive any proceeds from the Offer (the “Offer Proceeds”) and all the Offer Proceeds will be received by the Promoter Selling Shareholder |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 17.69% |
| ROCE | 19.35% |
| Debt/Equity | 0.58 |
| RoNW | 16.92% |
| PAT Margin | 3.50% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 11.00 | 17.50 |
| P/E (x) | 63.97 | 40.24 |
| Promoter Holding | 100% | 68.77% |
| Market Cap | ₹4,002.35 Cr. |
The Carraro India IPO is subscribed 1.18 times on December 24, 2024 6:19:10 PM (Day 3). The public issue subscribed 0.75 times in the retail category, 2.33 times in the QIB category, and 0.63 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 2.33 | 35,51,138 | 82,72,824 |
| NII | 0.63 | 26,63,352 | 16,86,531 |
| bNII (bids above ₹10L) | 0.45 | 17,75,568 | 7,92,099 |
| sNII (bids below ₹10L) | 1.01 | 8,87,784 | 8,94,432 |
| Retail | 0.75 | 62,14,489 | 46,58,850 |
| Total | 1.18 | 1,24,28,979 | 1,46,18,205 |
Total Application : 1,93,137
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees and commissions payable to the BRLMs (including any underwriting commission, brokerage and selling commission) | 30.50 |
| 2 | Brokerage, selling commission, bidding charges, processing fees and bidding charges for the Members of the Syndicate, Registered Brokers, SCSBs, RTAs and CDPs | 3.28 |
| 3 | Fees payable to the Registrar to the Offer | 0.05 |
| 4 | Listing fees, SEBI filing fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 3.62 |
| 5 | Printing and stationery expenses | 0.89 |
| 6 | Fees payable to the legal counsel | 13.57 |
| 7 | Advertising and marketing expenses for the Offer | 11.24 |
| 8 | Fees payable to other parties to the Offer including but not limited to the Statutory Auditors, independent chartered accountants and industry report provider | 9.17 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹704.00 | ₹704.00 |
| Open | ₹660.00 | ₹651.00 |
| Low | ₹631.30 | ₹631.00 |
| High | ₹682.00 | ₹682.00 |
| Last Trade | ₹636.30 | ₹636.20 |
Lead Manager Reports
Carraro India IPO is a main-board IPO of 1,77,55,681 equity shares of the face value of ₹10 aggregating up to ₹1,250 Crores. The issue is priced at ₹704 per share. The minimum order quantity is 21.
The IPO opens on Fri, Dec 20, 2024, and closes on Tue, Dec 24, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Carraro India IPO using UPI as a payment gateway. Zerodha customers can apply in Carraro India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Carraro India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Carraro India IPO opens on Fri, Dec 20, 2024 and closes on Tue, Dec 24, 2024.
Carraro India IPO lot size is 21, and the minimum amount required for application is ₹14,784.
You can apply in Carraro India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Carraro India IPO will be done on Thursday, December 26, 2024, and the allotted shares will be credited to your demat account by Fri, Dec 27, 2024. Check the Carraro India IPO allotment status.
The Carraro India IPO listing date is on Mon, Dec 30, 2024.
