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Carraro India Ltd.

17 Dec 2024

543.10

3.81%

Carraro India IPO to open on Dec 20 with price band of Rs 668-774 per share

Business Standard

Carraro India Ltd, the manufacturer of transmission systems for off-highway vehicles and other agricultural and construction equipment, on Tuesday fixed a price band of Rs 668-774 per share of its Rs 1,250-crore initial public offering (IPO) that will open for subscription on December 20. The Pune-based company's initial share-sale will conclude on December 24 and the anchor bidding will open for a day on December 19, the company said. Carraro India's IPO is completely an offer for sale (OFS) of shares worth Rs 1,250 crore by Carraro International S E, with no fresh issue component, according to the red herring prospectus. Since the entire issue is an OFS, all the proceeds from the IPO will go directly to the selling shareholder, rather than the company. Founded in 1997, Carraro India, a subsidiary of Carraro S.p.A, began its manufacturing journey with transmission systems in 1999 and axles in 2000. The company started its operations using IP rights licensed from other entities wi