Carraro India IPO Day 2 Live Updates: Key Highlights, Subscription Status, and Insights
Founded in 1997, Carraro India Ltd. engaged in manufacturing a wide range of components, from small gears to complete tractor assemblies. The company's initial public offering (IPO) opened on December 20, 2024, and is scheduled to close on December 24, 2024.
Carraro India IPO Details
- The Carraro India IPO is a book-built issue valued at ₹1,250 crores, with an offer for sale of 1.78 crore shares.
- Bidding for the IPO opened on December 20, 2024, and will close on December 24, 2024.
- The allotment is expected to be finalized on December 26, 2024, and the listing is scheduled for December 30, 2024, on both BSE and NSE.
- The price band for the IPO is ₹668 to ₹704 per share.
- The minimum application lot size is 21 shares, with a minimum investment of ₹14,784 for retail investors. For sNIIs, the minimum investment is ₹2,06,976 for 14 lots (294 shares), and for bNIIs, it is ₹10,05,312 for 68 lots (1,428 shares).
- Axis Bank Limited, BNP Paribas, and Nuvama Wealth Management Limited are the book-running lead managers for the IPO, with Link Intime India Private Ltd serving as the registrar.
Use of Proceeds
The Company will not receive any proceeds from the Offer and all the Offer Proceeds will be received by the Promoter Selling Shareholder Carraro International S.E after the deduction of Offer related expenses and relevant taxes thereon.
Carraro India IPO Day 2 Subscription Status
(December 23, 2024, 01:30:00 PM)
On the second day of bidding, the Carraro India IPO was subscribed 0.17 times the total shares available.
- Non-Institutional Investors (NIIs) subscribed 0.12 times their allocated portion.
- While retail investors subscribed 0.87 times the shares reserved for them.
- The subscription rate for Qualified Institutional Buyers (QIBs) was 0.00 times.
Carraro India IPO Day 1 Subscription Status
(December 20, 2024, End of Day)
By the first day of bidding, the Carraro India IPO was oversubscribed 0.09 times the total shares offered.
- NIIs subscribed 0.06 times their allotted portion.
- While retail investors subscribed 0.16 times the shares reserved for them.
- The QIBs had a subscription rate of 0.00 times.
Carraro India Business Overview
Carraro India Ltd. designs, manufactures, and sells transmission systems, including axles, transmissions, and drives, primarily for agricultural and construction equipment. The company also produces a range of gears for automotive, truck, and construction vehicles.
It operates two manufacturing plants in Pune, Maharashtra: a driveline plant covering 84,000 square meters and a gear plant spanning 78,000 square meters. The driveline plant utilizes technologies such as casting, machining, assembly, testing, and painting, while the gear plant specializes in machining and heat treatments like carburizing and nitriding.
Carraro India’s product offerings include axles and transmission systems for agricultural tractors, gears and transmissions for construction vehicles like backhoe loaders and cranes, and additional components such as gears, shafts, and ring gears for industrial and automotive applications. The company has built expertise in these sectors and maintains a network of 220 suppliers across India and 58 internationally.
Carraro India Financial Highlights
- Revenue increased by 4.43% from Rs 1,713.15 crore in FY23 to Rs 1,788.97 crore in FY24.
- Profit after tax (PAT) rose by 29.10% between the financial year ending March 31, 2023 and March 31, 2024, from Rs 48.46 to Rs 62.56 crore.
Key Ratios
|
Years |
FY24 |
|
ROE |
17.69% |
|
ROCE |
19.35% |
|
EBITDA Margin |
8.30% |
|
PAT Margin |
3.50% |
|
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