About Carraro India
Incorporated in 1997, Carraro India is a technology-driven integrated supplier specializing in developing complex engineering products and solutions for original equipment manufacturers (OEMs). The company is an independent Tier-1 solution provider, producing axles, transmission systems, and gears for agricultural tractors and construction vehicles in India. It operates manufacturing facilities in Pune, with expertise spanning design, prototyping, and testing.
Carraro India specializes in agricultural tractors and construction vehicles, supported by a network of 220 suppliers across eight Indian states and 58 internationally. The top 10 suppliers have partnered for an average of 15 years as of September 30, 2024. The company supplies products to 38 manufacturers in India and serves international clients, with exports facilitated by Carraro Drive Tech Italia S.p.A., the Carraro Group’s driveline leader.
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Overall | ₹1250 crores |
| Offer for sale | ₹1250 crores |
Financial Snapshot
| Financial Year Ended | March 2022 | March 2023 | March 2024 | September 2024 |
|---|---|---|---|---|
| Total Assets | 1,012.44 | 1,072.39 | 1,072.89 | 1,093.41 |
| Revenue | 1,520.05 | 1,733.3 | 1,806.55 | 922.74 |
| Profit After Tax | 22.43 | 48.46 | 62.56 | 49.73 |
*All figures are in ₹ Crores.
Strengths
- Leading Tier-1 supplier for tractors and construction vehicles.
- Customer-centric, offering customized solutions to OEMs.
- Strong in-house R&D with proprietary intellectual property.
- Technologically advanced manufacturing plants in Pune, India.
- Longstanding relationships with marquee local and global suppliers.
- Experienced and stable senior management team.
- Focused on innovation for future-ready products.
- Comprehensive supply chain and cost optimization strategies.
- Synergy with the Carraro Group for global expertise.
Risks
- Heavy reliance on top customers for revenue generation.
- Dependency on the Carraro Group for key business operations.
- High exposure to seasonal fluctuations in tractor demand.
- Competitive risks from both domestic and global OEM suppliers.
- Challenges in maintaining and expanding its OEM customer base.
- Risk of disruptions at manufacturing plants in Pune, India.
- Significant exposure to foreign currency exchange rate fluctuations.
- Vulnerability to market risks, including raw material price changes.
- Potential liabilities from hazardous materials and industrial operations.
IPO Schedule
| Issue Period | 20th December to 24th December 2024 |
|---|---|
| Price band | ₹ 668 - 704 |
| Minimum Bid quantity | 21 shares |
| UPI Mandate Deadline | 5 PM, 24 December 2024 |
| Allotment Finalization | 26 December 2024 |
| Refund Initiation | 27 December 2024 |
| Share Credit | 27 December 2024 |
| Listing Date | 30 December 2024 |
| Mandate end date | 08 January 2025 |
| Lock-In End Date for Anchor Investors (50%) | 25 January 2025 |
| Lock-In End Date for Anchor Investors (Remaining) | 26 March 2025 |