Carraro India Limited has announced the launch of its Initial Public Offering (IPO) with a price band of ₹668 to ₹704 per equity share, each having a face value of ₹10. The IPO will be open for subscription from December 20 to December 24, 2024, with investors required to bid for a minimum of 21 shares and in multiples thereafter. The IPO is an offer for sale (OFS) worth ₹1,250 crore by Carraro International S.E., without any new equity issuance.
A subsidiary of Carraro S.p.A., Carraro India was founded in 1997 and began manufacturing operations in 1999. Specializing in axles and transmission systems for agricultural and construction vehicles, it serves as a Tier 1 supplier to original equipment manufacturers (OEMs). Key products include systems for tractors up to 150 HP and machinery such as backhoe loaders and cranes.
Carraro India operates two state-of-the-art facilities in Pune, one for drivelines and the other for gears, with capacity utilization in FY2024 reaching 81.07% and 89.94%, respectively. The company caters to 38 domestic and six international clients, maintaining supplier relationships with over 220 entities across India and 58 globally.
The offering is structured through a book-building process, reserving up to 50% of the shares for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors. Axis Capital Limited, BNP Paribas, and Nuvama Wealth Management Limited are acting as book-running lead managers, with Link Intime India Private Limited serving as the registrar for the IPO.
Carraro India, a subsidiary of the Italian engineering company Carraro Group, is a leading manufacturer of precision transmission systems and driveline components for the automotive, agricultural, and construction industries in India. Established in 2007, Carraro India operates state-of-the-art manufacturing facilities that produce high-quality gearboxes, axles, and related products for both domestic and international markets.
The company is renowned for its advanced engineering capabilities, commitment to innovation, and strong focus on sustainability. By leveraging Carraro Group’s global expertise, Carraro India plays a crucial role in meeting the growing demand for specialized drivetrain solutions, while contributing significantly to the Indian economy and the development of the local automotive and machinery sectors.
