The IPO is an entire provide on the market (OFS) of as much as Rs 1,811.65 crore by Carraro Worldwide S.E.
The provide is being made by way of the book-building course of, whereby no more than 50% of the provide shall be out there for allocation on a proportionate foundation to certified institutional consumers, not lower than 15% of the provide shall be out there for allocation to non-institutional traders, and never lower than 35% of the provide shall be out there for allocation to retail particular person traders.
Established in 1997, Carraro India, a subsidiary of Carraro S.p.A, started its manufacturing journey with transmission programs in 1999 and axles in 2000. The corporate began its operations utilizing IP rights licensed from different entities throughout the Carraro Group and focuses on complicated engineering merchandise and options for unique tools producer (OEM) clients. It serves as an impartial tier-1 supplier, concentrating on axles and transmission programs for agricultural tractors and building automobiles.
The Carraro Group is likely one of the main impartial tier 1 suppliers of transmission programs and a key provider of axles within the agricultural tractor and building car industries in India. It has additionally established itself because the market chief in offering transmission programs for tractors as much as 150HP and four-wheel drive capabilities. In 2023, the corporate was the main sole provider within the non-captive phase of the agriculture tractors transmission market and the market chief with a 60-65% share of the non-captive building car transmission market.Carraro India operates two manufacturing crops in Pune: one for drivelines and one for gears.In FY24, the corporate equipped to 38 producers in India and 6 internationally. Its key clients within the agricultural tractor sector embrace CNH, TAFE, Mahindra and Mahindra, John Deere India Non-public Restricted, Escorts Kubota, Motion Building Restricted, and Worldwide Tractors Restricted. Within the building car sector, it serves CNH, Bull Machines, Liugong, Manitou Tools, Doosan, Escorts Kubota, Mahindra and Mahindra, and Motion Building Restricted.
Carraro India’s income from operations elevated by 4.44% from Rs 1,695.12 crore in FY23 to Rs 1,770.45 crore in FY24, primarily because of a rise in income from the sale of merchandise. Revenue after tax elevated by 29.44% from Rs 46.80 crore in FY23 to Rs 60.58 crore in FY24.
Axis Capital Restricted, BNP Paribas and Nuvama Wealth Administration Restricted are the book-running lead managers and Hyperlink Intime India Non-public Restricted is the registrar of the provide. The fairness shares are proposed to be listed on BSE and NSE.
