Pune based Carraro India files draft papers with Sebi for Rs 1,812 cr IPO
Carraro India Ltd, manufacturer of transmission systems for off-highway vehicles and other agricultural and construction equipment, on Saturday filed draft papers with markets regulator for Sebi for its Rs 1,812-crore initial public offering (IPO).
The Pune-based company's initial share-sale is completely an Offer-For-Sale (OFS) by Carraro International S.E, according to the draft red herring prospectus (DRHP).
Since the entire issue is an OFS, all the proceeds from the IPO will go directly to the selling shareholder, rather than to 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 within the Carraro Group and specializes in complex engineering products and solutions for original equipment manufacturer (OEM) customers.
It serves as an independent tier 1 provider, concentrating on axles and ...