Carraro India Ltd. was incorporated on April 11, 1997. The company is a technology-driven integrated supplier that develops complex automotive engineering products and solutions for its original equipment manufacturer (“OEM”) customers.
| Bidding Dates |
|---|
| 20 Dec 2024 - 24 Dec 2024 |
| Subscription |
|---|
| 1.12x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,028 | 1 | 13 | 21 | 17.8 M | ₹668 - ₹704 | 68.77 % | ₹11860.8 M - ₹12500.0 M | RHP DOC |
Carraro India Ltd. IPO SUBSCRIPTION STATUS
24 Dec '24Carraro India Ltd. IPO overall subscription rate was 1.12 times the total available shares
Carraro India Ltd. IPO retail subscription rate was 0.71 times in the retail segment
Carraro India Ltd. IPO non-institutional investor subscription rate was 0.6 times in the non-institutional investor category
Carraro India Ltd. IPO Qualified Institutional Bidder subscription rate was 2.21 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
24 Dec 2024 (Day 3) | 0.71x | 0.6x | 2.21x |
23 Dec 2024 (Day 2) | 0.35x | 0.2x | 0x |
20 Dec 2024 (Day 1) | 0.15x | 0.06x | 0x |
Carraro India Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY25 | 497.3 | 9,146.2 | 437.3 | 251.8 | 11.0% |
| H1FY24 | 249.4 | 9,610.3 | -109.2 | -361.0 | 6.8% |
| FY24 | 625.6 | 17,889.7 | 1,121.9 | 540.9 | 8.3% |
| FY23 | 484.6 | 17,131.5 | 802.2 | 175.1 | 7.2% |
| FY22 | 224.3 | 14,975.4 | 958.3 | 369.6 | 5.5% |
Carraro India Ltd. IPO SUBSCRIPTION STATUS DETAILS
Carraro India Ltd. had 17.8 M shares on offer
Carraro India Ltd. IPO offer price was in the range ₹668 - ₹704
Carraro India Ltd. IPO minimum Investment was ₹14028
Carraro India Ltd. IPO issue size was ₹ 11860.8 M - ₹ 12500.0 M
Carraro India Ltd. had a minimum lot size of 21 Shares per application
Carraro India Ltd. NUMBER OF SHARES ON OFFER
Carraro India Ltd. IPO IMPORTANT DATES
| Issue Open Date | 20 Dec 2024 |
| Issue close Date | 24 Dec 2024 |
| Allotment Date | 26 Dec 2024 |
| Refund Date | 26 Dec 2024 |
| Demat Account Credit Date | 27 Dec 2024 |
| Listing Date | 30 Dec 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Carraro India Ltd. Allotment Status | Exchange |
Carraro India Ltd. IPO subscription opened on 20 Dec 2024, and closed on 24 Dec 2024
IPO allotment for Carraro India Ltd. was finalized on Thursday, 26 Dec 2024
IPO listing for Carraro India Ltd. was on NSE and BSE on Monday, 30 Dec 2024
Carraro India Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 704.0 |
| Listing Open Price | 651.0 |
| Listing Close Price | 636.2 |
| Listing Gain% | -7.5% |
| Current Gain% | -28.7% |
Carraro India Ltd. Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Carraro India Ltd. | 502 | 2854.2 | 21.5 | 0.4 | 1.2 | 23.1 | 10.3 | 2284 | 25.3 | 130.6 | 48.2 | 23.4 | 48.5 |
| Tata Motors Ltd. | 453.1 | 166863.2 | 55.1 | 2 | 23.8 | 5.8 | 84979 | 43.8 | 3030 | -5.2 | 8.2 | ||
| Ashok Leyland Ltd. | 177.5 | 104260.9 | 30 | 2.6 | 1.8 | 24.4 | 3.4 | 56946.9 | 16.5 | 3471 | 11.7 | 5.9 | 11.7 |
| Escorts Kubota Ltd. | 3080 | 34458.4 | 24.9 | -0.6 | 2.8 | 19.3 | 15.2 | 12106.6 | 13.1 | 2394.1 | 89.3 | 123.6 | -41.4 |
| BEML Ltd. | 1787.8 | 14890.4 | 83.4 | -2.1 | 3.3 | 4.8 | 2 | 4380 | 8.3 | 141.4 | -51.7 | 21.4 | -40.3 |
| Action Construction Equipment Ltd. | 1094.3 | 13031.3 | 29.8 | 8.9 | 3.8 | 20.6 | 12.8 | 3390.5 | -1.1 | 415.1 | 1.4 | 36.7 | 3.3 |
Carraro India Ltd. INFORMATION ON IPO ISSUE
About Carraro India Ltd.
Carraro India Ltd. was incorporated on April 11, 1997. The company is a technology-driven integrated supplier that develops complex automotive engineering products and solutions for its original equipment manufacturer (“OEM”) customers.
Object of the Issue
- Carry out the Offer for Sale of equity shares of face value of Rs 10 each aggregating up to Rs 1,811.7 crore by the promoter selling shareholder.
- Achieve the benefits of listing equity shares on the stock exchanges.
Carraro India Ltd. - PROMOTERS
| Name |
|---|
| Tomaso Carraro |
| Enrico Carraro |
| Carraro S.p.A. |
| Carraro International S.E. |
Carraro India Ltd. Book running lead manager
Axis Capital Limited
carraro.ipo@axiscap.in
BNP Paribas
DL.CarraroIndia.IPO@bnpparibas.com
Nuvama Wealth Management Limited
carraro.ipo@nuvama.com
Carraro India Ltd. Registrar to the offer
Link Intime India Private Limited
carraro.ipo@linkintime.co.in
Carraro India Ltd. Strengths
Leading tier 1 suppliers of transmission systems
According to the Markets and Markets Report, the company is one of the leading independent tier 1 suppliers of axles, transmission systems, and gears for the agricultural tractor and construction vehicle industries in India
Strong, in-house R&D capabilities
According to Markets and Markets, the company is among the pioneers to enter the agricultural tractor and construction vehicle component market with its dedicated R&D team and centre
Carraro India Ltd. Risks
Concentrated Revenue Source
The company derived 70% and 86.3% of its revenue from its top five and top 10 customers, respectively, in FY24, and any inability to retain its key customers or attract new customers and expand its customer network could negatively affect its business
Geographically concentrated
The company currently owns and operates two manufacturing plants in Pune, India, and events impacting this geographical area may disrupt its production and operations
Dependent on global OEM customer base
The success of its business depends on maintaining good relationships with OEM customers (including the international OEM customers sourced through Carraro Drive Tech Italia S.p.A.) and ensuring that they find the company's products to be commercially remunerative and have continuing demand from customers
IPO FAQs
This IPO consists of an offer for sale of up to Rs 1,250.0 crore, of 17,755,681 shares.
The promoters of the company are Tomaso Carraro, Enrico Carraro, Carraro S.p.A. and Carraro International S.E..
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 668.0 - 704.0.
The IPO application opens on Dec 20, 2024 and closes on Dec 24, 2024.
The minimum lot size for the IPO is 21. The maximum lot size for the IPO is 273.
For all category investors, the minimum application amount for this IPO is Rs. 14,028.0, the maximum value for this IPO is Rs 192,192.0.
This IPO will be allotted on Dec 26, 2024.
The refund will be credited to your account on Dec 26, 2024.
The allotted shares will be credited to your demat on Dec 27, 2024.
Carraro India Ltd.’s shares listed on the stock exchanges on Dec 30, 2024.