Carraro India Ltd IPO

Carraro India Ltd IPO

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Bidding period

20 Dec 2024 - 24 Dec 2024

Bid price

₹704.00 - ₹704.00

Listing on

BSE, NSE

Listing date

30 Dec 2024

Lot size

21 shares

Issue size

₹1,250.00 crore


Minimum investment

₹14,784.00 / 1 lot

Maximum investment

₹1,92,192.00 / 13 lot

Bidding closed on 24 Dec 2024

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Carraro India Ltd IPO dates

IPO opening date

20 Dec 2024

IPO end date

24 Dec 2024

Allotment date

26 Dec 2024

Initiation of refunds

27 Dec 2024

Credit of shares to demat

27 Dec 2024

IPO listing date

30 Dec 2024

Carraro India Ltd IPO financials

Particulars

For the period ending in March 2024 (in ₹ million)

Total assets ₹1,072.89
Total liabilities ₹1,072.89
Total expenditure ₹1,722.18
Total revenue ₹1,806.55
Profit after tax ₹62.54
EBITDA ₹149.99
Adjusted EBITDA ₹0.00

Carraro India Ltd shareholder pattern

Pre-issue Post-issue
Promoter group 100.0 68.77
Public group 0.0 31.23

Carraro India Ltd strengths and risks

Information currently unavailable

  • One of the leading tier 1 suppliers of transmissions systems and a key supplier of axles in the agricultural tractor and construction vehicle industries in India with competitive moat for mission critical and complex driveline components.

  • Customer-centric, one-stop shop offering customized solutions to a longstanding OEM customer base.

  • Longstanding relationships with marquee local and international supplier base.

  • Strong, in-house R&D capabilities with proprietary IP rights to facilitate innovation of future-ready products.

  • Technologically advanced manufacturing plants with large production capacities.

  • Stable and experienced senior management team with strong industry knowledge and proven track record of growing the business and achieving margin optimization.

  • The company derived 69.55% and 87.88% of its revenue in the six months ended September 30, 2024 and 69.37% and 85.39% of its revenue in Fiscal 2024 from the company top five and top 10 customers, respectively, and any inability to retain its key customers or attract new customers and expand the company customer network, could negatively affect its business and results of operations.

  • The company depends partially on other entities in the Carraro Group for its operations, such as the license of the Carraro brand, customer sourcing, procurement, R&D and general support of the company operations. The Carraro Group was its largest customer in the six months ended September 30, 2024 and 2023 and Fiscals 2024, 2023 and 2022. For the six months ended September 30, 2024 and Fiscal 2024, the company derived 33.27% and 33.91% of its total revenue from the Carraro Group and have purchased 3.81% and 4.91% of its raw materials from the Carraro Group, respectively. Any disruption in this relationship could have a material adverse impact on its operations.

  • The company has entered into and may continue to enter into related party transactions with the Carraro Group, Directors and Key Managerial Personnel. The company incurred 33.89% and 34.67% of its total income and 6.70% and 8.63% of the company total expenses in transactions with related parties in the six months ended September 30, 2024 and Fiscal 2024, respectively. Such transactions may require significant capital outlay and there can be no assurance that the company will be able to make a return on these transactions or investments.

  • Its agricultural tractor business is seasonal in nature and a decrease in its sales during some quarters could have an adverse impact on the company financial performance.

  • The company and certain of its Group Companies have common pursuits as they are engaged in similar business or segments within the automotive components industry and may compete with it, and that there may be conflict of interest in allocating business opportunities between the company and such Group Companies.

  • Its Promoters and certain of the company Directors may be involved in ventures which are engaged in the same line of activity or business as that of the Company and this may result in conflicts of interest with it. The company Directors, Key Managerial Personnel and Senior Management may have interests in the Company in addition to their remuneration and reimbursement of expenses.

  • The company is dependent on the performance of the tractor and construction vehicle markets, as its agricultural tractors sector and construction vehicles sector constituted 45.05% and 41.29% of its revenue from product sector only for Fiscal 2024, 49.37% and 38.43% of the company revenue for Fiscal 2023 and 50.59% and 36.12% of its revenue for Fiscal 2022, respectively. Any adverse changes in the conditions affecting the tractor or construction vehicles markets can adversely impact its business, financial condition, results of operations, cash flows and prospects.

  • Its EBITDA margins and PAT margins were lower than the EBITDA margins and PAT margins of the company industry peers in the six months ended September 30, 2024 and September 30, 2023 and Fiscals 2024, 2023 and 2022, as disclosed in this Red Herring Prospectus, and the company cannot assure you that its will be able to continue to improve the company EBITDA margins and PAT margins in comparison to its competitors or at all.

  • The company currently manufacture its axles, transmissions and gears at the company manufacturing plants in Pune, India. Any disruptions or stoppages at its manufacturing plants could adversely impact the company operations, financial condition and results of operations.

  • As the company derives 34.60%, 36.09%, 35.87%, 38.19% and 36.80% of its revenue from exports from the six months ended September 30, 2024 and 2023 and Fiscals 2024, 2023 and 2022, respectively, the company heavily rely on its extensive global customer base of OEM customers and the company inability to maintain the stability of its OEM customer base and attract additional customers may have a material adverse effect on its results of operations and financial condition.

How to check the allotment status of the Carraro India Ltd IPO?

To check the IPO allotment status, follow these steps:

 

  1. Visit the official website of the IPO’s registrar.
  2. Go to the IPO allotment status page.
  3. Select the ‘Carraro India Ltd’ from the list of available IPOs.
  4. Enter your PAN, Demat ID, or application number.
  5. Click on ‘Submit’ or ‘Check Status’ to view your allotment details.

Alternatively, you can also check the allotment status on stock exchange websites such as the NSE or BSE.

To check the IPO allotment status, follow these steps:

 

  1. Visit the official website of the IPO’s registrar.
  2. Go to the IPO allotment status page.
  3. Select the ‘Carraro India Ltd’ from the list of available IPOs.
  4. Enter your PAN, Demat ID, or application number.
  5. Click on ‘Submit’ or ‘Check Status’ to view your allotment details.

Alternatively, you can also check the allotment status on stock exchange websites such as the NSE or BSE.

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Carraro India Ltd IPO registrar

MUFG Intime India Pvt Ltd

Phone number +91 8108114949
E-mail ID carraro.ipo@linkintime.co.in
Website www.linkintime.co.in

Carraro India Ltd IPO reservation

QIB shares offered

35,51,136 (20.0%)

NII (HNI) shares offered

26,63,352 (15.0%)

Retail shares offered

62,14,489 (35.0%)

Anchor investor shares offered

53,26,705 (30.0%)

Total shares offered

1,77,55,682

Total shares with anchor investor

1,77,55,682

Carraro India Ltd IPO lead manager

  • Axis Capital Ltd
  • BNP Paribas
  • Nuvama Wealth Management Ltd

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How to apply for an IPO with Bajaj Broking?

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  • Log in to the Bajaj Broking trading platform and select ‘IPO’ from the menu.
  • Browse the list of open IPOs and click ‘Apply’ for your chosen IPO.
  • Enter the quantity and your UPI ID.
  • Submit your application—and you're done!

Frequently asked questions

What is the listing date for the Carraro India Ltd IPO?

The listing date for the Carraro India Ltd IPO is 30 Dec 2024.

What is the issue size of Carraro India Ltd IPO?

The issue size of the Carraro India Ltd IPO is ₹1,250.00 cr.

What is the minimum lot size needed for Carraro India Ltd IPO?

The minimum lot size for Carraro India Ltd IPO is 21

When does the Carraro India Ltd open and close?

Carraro India Ltd IPO is open from 20 Dec 2024 to 24 Dec 2024.

How can I apply for the Carraro India Ltd IPO?

To apply for the Carraro India Ltd, follow the steps given below:

  • Log in to your Bajaj Broking trading account and navigate to the current IPOs section.
  • Browse the list of open IPOs and click ‘Apply’ for your chosen PO.
  • Enter the quantity and your UPI ID. You will receive a mandate notification to block funds in your UPI app.
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