Auto parts manufacturer Carraro India Ltd. has announced the price band for its ₹1,250 crore IPO, set between ₹668 – ₹704 per share. The public issue is entirely an Offer for Sale (OFS) by the parent company Carraro International S.E., and Carraro India will not receive any proceeds from the issue.
Carraro India IPO Details:
- IPO Subscription Dates: December 20, 2024, to December 24, 2024.
- Price Band: ₹668 – ₹704 per share.
- Issue Size: ₹1,250 crore (entirely OFS).
- Lot Size: 21 shares (minimum investment of ₹14,784).
- Investor Reservation:
- QIB: 50%
- NII: 15%
- Retail Investors: 35%
Timeline for Allotment and Listing:
- Basis of Allotment: December 26, 2024.
- Refund Initiation: December 26, 2024.
- Credit to Demat Accounts: December 27, 2024.
- Listing Date: December 30, 2024.
Company Overview:
Founded in 1997 as a subsidiary of Carraro S.p.A, Carraro India is a leading tier-1 provider of axles, transmission systems, and gears for agricultural tractors and construction vehicles in India.
Key Highlights:
- Operates two manufacturing plants in Pune with cutting-edge technologies for casting, machining, assembly, and testing.
- Revenue for FY24 grew 4.44% to ₹1,770.45 crore from ₹1,695.12 crore in the previous year.
Lead Managers & Registrar:
- Book-Running Lead Managers: Axis Capital Ltd, BNP Paribas, Nuvama Wealth Management Ltd.
- Registrar: Link Intime India Private Limited.
The upcoming IPO marks a significant milestone for Carraro India as it strengthens its presence in the Indian market, catering to the growing demand in the agricultural and construction industries.
