Carraro India Limited, a leading supplier of axles, transmission systems, and gears for agricultural tractors and construction vehicles, is set to launch its Initial Public Offering (IPO) on December 20, 2024.The IPO will close on December 24, 2024.
IPO Details:
- Issue Size: The IPO aims to raise ₹1,250 crore through a complete Offer for Sale (OFS) of 1,77,55,680 equity shares by the promoter, Carraro International
- Price Band: The shares are priced between ₹668 and ₹704 per equity share, each with a face value of ₹10.
- Lot Size: Investors can bid for a minimum of 21 shares, amounting to ₹14,784 at the upper price band. Retail investors can apply for up to 13 lots, totaling 273 shares or ₹1,92,192.
- Reservation: The allocation is structured with 50% reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors.
Key Dates:
- Anchor Investor Bidding: December 19, 2024.
- IPO Opening Date: December 20, 2024.
- IPO Closing Date: December 24, 2024.
- Allotment Finalization: December 26, 2024.
- Refunds Initiation: December 27, 2024.
- Credit to Demat Accounts: December 27, 2024.
- Listing Date: December 30, 2024, on both BSE and NSE.
Company Overview:
Established in 1997, Carraro India operates two manufacturing plants in Pune, Maharashtra, specializing in driveline and gear manufacturing. The company serves 38 manufacturers in India, including prominent OEMs like Mahindra & Mahindra, TAFE, and Sonalika.
Financial Performance:
- Revenue: Increased from ₹1,733.3 crore in FY23 to ₹1,806.55 crore in FY24.
- Profit After Tax: Rose from ₹48.46 crore in FY23 to ₹62.56 crore in FY24.
Valuation Metrics:
- Earnings Per Share (EPS): ₹11.00 (Basic).
- Return on Net Worth (RoNW): 16.92%.
- Net Asset Value (NAV): ₹65.05.
Use of Proceeds:
As this is a complete OFS, the company will not receive any proceeds from the offer. All proceeds will go to the promoter selling shareholder after deducting offer-related expenses and relevant taxes.
Disclaimer-
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