Carraro India Ltd Files Draft Papers for Rs 1,812-Crore IPO

Carraro India Ltd, a manufacturer of transmission systems for agricultural and construction equipment, has filed draft papers with SEBI for a Rs 1,812-crore IPO. The Pune-based company, founded in 1997, will conduct an Offer-For-Sale. Proceeds from the IPO will go to the selling shareholder, Carraro International S.E.

In a significant financial move, Carraro India Ltd has submitted draft papers to the Securities and Exchange Board of India (SEBI) seeking approval for an Rs 1,812-crore Initial Public Offering (IPO). The Pune-based manufacturer specializes in transmission systems for off-highway vehicles, including agricultural and construction equipment.

The proposed IPO is an Offer-For-Sale (OFS) by Carraro International S.E., ensuring that all funds raised will benefit the selling shareholder. Established in 1997 and operational with transmission systems since 1999, Carraro India Ltd is a subsidiary of Carraro S.p.A. The company has grown to become a key supplier of complex engineering solutions for Original Equipment Manufacturer (OEM) customers.

With two state-of-the-art manufacturing plants in Pune focusing on drivelines and gears, Carraro India boasts advanced technology and serves major domestic and international customers. Its revenue increased by 4.44% in fiscal 2024 to Rs 1,770.45 crore, while profit after tax surged by 29.44% to Rs 60.58 crore. Axis Capital Ltd, BNP Paribas, and Nuvama Wealth Management Ltd are the lead managers for the issue.

(With inputs from agencies.)