Free Equity Delivery
Flat ₹10 per Trade in Intraday & F&O
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 ₹704.00 per share . The lot size for an application is 21. The minimum amount of investment required by an retail is ₹14,028 (21 shares). 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 Date | December 20, 2024 to December 24, 2024 |
| Listing Date | December 30, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹668 to ₹704 per share |
| Issue Price Final | ₹704 per share |
| Lot Size | 21 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 1,77,55,681 shares (aggregating up to ₹1,250.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,68,51,538 shares |
| Share Holding Post Issue | 5,68,51,538 shares |
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, 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 | Maximum 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%) |
Carraro India IPO raises ₹375.00 crore from anchor investors. Carraro India IPO Anchor bid date is December 19, 2024. Carraro India IPO Anchor Investors list
| Bid Date | December 19, 2024 |
| Shares Offered | 53,26,703 |
| Anchor Portion Size (In Cr.) | 375.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 24, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 25, 2025 |
Carraro India IPO opens on December 20, 2024, and closes on December 24, 2024.
| IPO Open Date | Fri, Dec 20, 2024 |
| IPO Close Date | Tue, Dec 24, 2024 |
| Tentative Allotment | Thu, Dec 26, 2024 |
| Initiation of Refunds | Fri, Dec 27, 2024 |
| Credit of Shares to Demat | Fri, Dec 27, 2024 |
| Tentative Listing Date | Mon, Dec 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Dec 24, 2024 |
Investors can bid for a minimum of 21 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) 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 |
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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:
Carraro India Limited's revenue increased by 4% and profit after tax (PAT) rose by 29% between the financial year ending with March 31, 2024 and March 31, 2023.
| 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 | 1,733.3 | 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 |
| Amount in ₹ Crore | ||||
The market capitalization of Carraro India IPO is ₹4002.35 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 17.69% |
| ROCE | 19.35% |
| Debt/Equity | 0.58 |
| RoNW | 16.92% |
| PAT Margin | 3.50% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 11.00 | 17.50 |
| P/E (x) | 63.97 | 40.24 |
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.
[Dilip Davda] The company enjoys preferred partner status for Tier 11 solutions provider of critical components required by agriculture/construction and off-highway vehicles. The company posted steady growth in its top lines with commensurate rise in its bottom lines for the reported periods. Based on recent earnings, the issue appears aggressively priced. Considering company’s niche play in the segment, well-informed investors may park moderate funds for long term. Read detail review...
| Listing Date | December 30, 2024 |
| BSE Script Code | 544320 |
| NSE Symbol | CARRARO |
| ISIN | INE0V7W01012 |
| Final Issue Price | ₹704 per share |
| NSE Listing Group | EQ |
| BSE Listing Group | B |
Carraro India Ltd.
B2/ 2 MIDC,
Ranjangaon,
Pune 412 220 Maharashtra,
Pune, Maharashtra
Phone: +91 2138 662666
Email: company_secretary@carraroindia.com
Website: https://www.carraroindia.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: carraro.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Carraro India IPO is a main-board IPO of 1,77,55,681 equity shares of the face value of ₹10 aggregating up to ₹1,250.00 Crores. The issue is priced at ₹704 per share. The minimum order quantity is 21.
The IPO opens on December 20, 2024, and closes on December 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 December 20, 2024 and closes on December 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 Friday, December 27, 2024. Check the Carraro India IPO allotment status.
The Carraro India IPO listing date is on Monday, December 30, 2024.
Useful Articles
RHP