Carraro India Limited, a Pune-based manufacturer of transmission systems for off-highway vehicles, has filed for an initial public offering (IPO) worth Rs 1,812 crore with the Securities and Exchange Board of India (SEBI). The draft red herring prospectus (DRHP) reveals that the IPO will be a complete offer for sale (OFS) by Carraro International S.E., with shares priced at ₹10 each.
The IPO will employ a book-building process, with allocations set at up to 50% for qualified institutional buyers, at least 15% for non-institutional investors, and a minimum of 35% for retail investors. This move aims to enhance Carraro India’s public presence and expand its investor base.
Founded in 1997 and a subsidiary of Carraro S.p.A., Carraro India began production of transmission systems in 1999 and axles in 2000. Over the years, the company has transitioned from licensing IP rights from Carraro Group entities to developing its own complex engineering solutions for original equipment manufacturers (OEMs). Carraro India now operates as a tier 1 provider specializing in axles and transmission systems for agricultural tractors and construction vehicles.
