Carraro India Ltd., a manufacturer of transmission systems for tractors and off-highway vehicles, and other agricultural and construction equipment, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to mobilise up to ₹1,811.65 crore through an offer for sale (OFS).

The Initial Public Offering (IPO) will be a complete OFS by Carraro International S.E. 

Established 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 specialises in complex engineering products and solutions for original equipment manufacturer (OEM) customers. It serves as an independent tier 1 provider, concentrating on axles and transmission systems for agricultural tractors and construction vehicles.

The company’s revenue from operations increased by 4.44% from ₹1,695.12 crore in fiscal 2023 to ₹1,770.45 crore in fiscal 2024, primarily due to an increase in revenue from the sale of products; Profit after tax increased 29.44% from ₹46.80 crore in fiscal 2023 to ₹60.58 crore in fiscal 2024.