Global law firm White & Case LLP has advised the book running lead managers on the ₹12.5 billion (approximately US$145.64 million) Rule 144A/Regulation S initial public offering (IPO) of Carraro India Limited, an original equipment manufacturer (OEM) manufacturing axles and transmission systems for agricultural tractors and construction equipment, on the National Stock Exchange of India.
"This IPO, which was subscribed 1.12 times upon closing, showcases Carraro India's manufacturing excellence and significant position not only within the Carraro Group, but also in the Indian market," said White & Case partner Rahul Guptan, who co-led the Firm's deal team. "The successful IPO will unlock further value in Carraro Group's India business."
All proceeds of the IPO will go to Carraro International S.E., the parent company of Carraro India.
The book running lead managers were Axis Capital Limited, BNP Paribas and Nuvama Wealth Management Limited.
Carraro India Limited is a group company of the Carraro Group, which manufactures transmission systems for tractors and off-highway vehicles. The Carraro Group started its international expansion by entering the India market and establishing Carraro India Limited in 1997, and its current global presence spans the United States, Argentina, Brazil, Luxembourg, Italy, India and China.
The White & Case team which advised on the transaction was led by partners Rahul Guptan (London) and Kaya Proudian (Singapore) and included partner Steven Gee (New York) and associates Rachna Talati (Singapore), Ece Kuregibuyuk (London), Hilda Leung, Paul Qu, Royston Tan (all Hong Kong) and Nir Fishbien (New York).
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