Carraro India Ltd Gears Up for Rs 1,250-Crore IPO

Carraro India Ltd, a Pune-based manufacturer of transmission systems for agricultural and construction vehicles, has announced its Rs 1,250-crore IPO, set to open on December 20. The offering is entirely an offer for sale by Carraro International S E, with proceeds distributed directly to the selling shareholder.

Pune-based Carraro India Ltd, a significant player in manufacturing transmission systems for off-highway vehicles, has set the price range for its initial public offering (IPO) at Rs 668-704 per share. This Rs 1,250-crore IPO opens for subscription on December 20 and aims to conclude on December 24.

The IPO is structured as a complete offer for sale by Carraro International S E, ensuring that all financial proceeds directly benefit the selling shareholder. This announcement, outlined in the company's prospectus, highlights the firm's strategic focus on its core proficiency in agricultural and construction vehicle markets.

Founded in 1997 and a subsidiary of Carraro S.p.A, Carraro India operates two advanced production facilities in Pune, which cater to both the domestic and international markets. The company reported a 4.44% increase in revenue to Rs 1,770.45 crore in FY24, reflecting its robust performance.

(With inputs from agencies.)