Carraro India a prominent player in Technology-oriented supplier, has submitted draft papers to the Securities and Exchange Board of India (SEBI) for its highly anticipated IPO worth ₹1812 crores. This public offering aims to raise approximately ₹1,812 crores through a combination of a fresh issue and an offer for sale. The IPO is expected to include a fresh issue of ₹[.] crores and an offer for sale (OFS) of up to [.] equity shares. The company plans to list its shares on both NSE and BSE.
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Carraro India IPO Details
- IPO Date: Not yet announced.
- Issue Type: Book-built issue.
- IPO Size: Approx. ₹1,812 crores
- Fresh Issue: ₹[.] crores
- Offer for Sale: Up to [.] equity shares
- Face Value: ₹10 per share
- Listing: NSE, BSE
- Retail Quota: 35%
- QIB Quota: 50%
- HNI Quota: 15%
About the IPO
Pune-based Carraro India is set to launch its ₹1812 crore IPO (Initial Public Offering) and will soon submit its Draft Red Herring Prospectus (DRHP) to SEBI. The IPO consists entirely of an Offer for Sale (OFS) by the existing promoter, Carraro International S.E., with no fresh issue of shares. The face value for this IPO is set at ₹10 per equity share.
Nuvama Wealth Management Limited (formerly Edelweiss Securities Limited), BNP Paribas, and Axis Capital Limited are the book-running lead managers for the offering, while Link Intime India Private Limited serves as the Registrar. Since there is no fresh issue, Carraro India will not receive any proceeds from the IPO; all funds raised will go directly to the promoter.
Financial Performance
The company reported a revenue of ₹1,770.5 crores for the financial year ending March 2024, marking a 4.4% increase compared to the previous year. In FY24, EBITDA (earnings before interest, tax, depreciation, and amortization) grew by 27.2% year-on-year, reaching ₹128.2 crores. Additionally, the EBITDA margin improved by 130 basis points, rising to 7.2%.
Company Overview
Carraro India has established itself as a leader in the tractor and construction equipment spare parts market. The company operates two manufacturing plants in Pune. Its products cater to a range of vehicles, including agricultural tractors, backhoe loaders, soil compactors, cranes, self-loading concrete mixers, and small motor graders.
IPO Documents
| Document | Link |
|---|---|
| DRHP Draft Document | Click Here |
| RHP Draft Document | Will Be Updated Shortly |
Financial Report
| Fiscal Year | Revenue | Expense | Profit After Tax |
|---|---|---|---|
| 2022 | ₹1503.54 | ₹1475.03 | ₹20.77 |
| 2023 | ₹1714.96 | ₹1654.58 | ₹46.80 |
| 2024 | ₹1787.63 | ₹1705.91 | ₹60.58 |
IPO Valuation FY-2024
| Earning Per Share (EPS): | ₹10.66 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 15.73% |
| Net Asset Value (NAV): | ₹67.75 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Escorts Kubota Limited | 96.80 | 43.21 | 11.43% | 830.45 | – Cr. |
| Schaeffler India Limited | 57.5 | 74.22 | 18.71% | 307.44 | – Cr. |
| Sona BLW Precision Forgings Ltd | 8.83 | 76.93 | 18.49% | 47.75 | – Cr. |
| Ramakrishna Forgings Limited | 20.27 | 42.82 | 12.72% | 148.48 | – Cr. |
| Happy Forgings Limited | 26.78 | 47.08 | 15.07% | 171.17 | – Cr. |
| Action Construction Equipment Ltd | 27.56 | 50.56 | 26.69% | 307.44 | – Cr. |
Objects of the Issue
N/A
IPO Lead Managers
- Axis Capital Limited
- BNP Paribas
- Nuvama Wealth Management Limited (Formerly known as Edelweiss Securities Limited)
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