Western Carriers (India) Limited IPO

NiftyTrader • September 12, 2024

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Western Carriers (India) Limited IPO

Western Carriers (India) Limited IPO opens on September 13, 2024, and closes on September 18, 2024. The allotment for the Western Carriers (India) Limited IPO is anticipated to be completed on Thursday, September 19, 2024. The IPO will be tentatively listed on the NSE and BSE on Monday, September 23, 2024.

Western Carriers (India) Limited IPO’s price band is Rs 163 to Rs 172 per share. The IPO is a book-built issue of Rs 492.88 crores. The issue is a combination of a fresh issue of 2.33 crore shares.

Western Carriers (India) IPO Details

IPO Date	September 13, 2024 to September 18, 2024
Listing Date	[.]
Face Value	₹5 per share
Price	₹163 to ₹172 per share
Lot Size	87 Shares
Total Issue Size	28,655,813 shares (aggregating up to ₹492.88 Cr)
Fresh Issue	23,255,813 shares (aggregating up to ₹400.00 Cr)
Offer for Sale	5,400,000 shares of ₹5 (aggregating up to ₹92.88 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre-issue	78,699,400
Shareholding post-issue	101,955,213

Western Carriers (India) IPO Lot Size

Investors can bid for a minimum of 87 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (Min)	1	87	₹14,964
Retail (Max)	13	1131	₹194,532
S-HNI (Min)	14	1,218	₹209,496
S-HNI (Max)	66	5,742	₹987,624
B-HNI (Min)	67	5,829	₹1,002,588

Western Carriers (India) IPO Objectives

The net proceeds of the Fresh Issue, i.e., gross proceeds of the Fresh Issue less the Offer expenses apportioned to the Company (“Net Proceeds”) are proposed to be utilized in the following manner:

Prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the Company;
General corporate purpose

About Western Carriers (India) Limited

Incorporated in March 2011, Western Carriers (India) Limited is a multi-modal, rail-focused 4PL logistics company offering customizable solutions across road, rail, water, and air transport. Specializing in sectors like metals, FMCG, pharmaceuticals, and chemicals, the company serves major clients including Tata Steel, Hindalco, and Cipla. Western Carriers excels in integrating rail with road movements through its asset-light model and provide chartering, stevedoring, and coastal cargo services. As of December 31, 2022, it boasts over 1,100 customers and employs 1,350 people across various departments.

Western Carriers (India) Limited Financial Information

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	754.01	604.14	490.33
Revenue	1,691.41	1,637.84	1,475.79
Profit After Tax	80.35	71.57	61.13
Net Worth	398.36	318.61	257.58
Reserves and Surplus	359.01	279.08	157.12
Total Borrowing	266	210.47	150.4
			Amount in ₹ Crore

Western Carriers (India) IPO Reservation

Investor Category	Shares Offered
Retail Shares Offered	Not less than 35.00% of the Net Issue
QIB Shares Offered	Not more than 50.00% of the Net offer
NII (HNI) Shares Offered	Not less than 15.00% of the Net Issue

Western Carriers (India) IPO Timeline

Western Carriers (India) IPO opens on September 13, 2024, and closes on September 18, 2024.

IPO Open Date	Friday, September 13, 2024
IPO Close Date	Wednesday, September 18, 2024
Basis of Allotment	Thursday, September 19, 2024
Initiation of Refunds	Friday, September 20, 2024
A credit of Shares to Demat	Friday, September 20, 2024
Listing Date	Monday, September 23, 2024
Cut-off time for UPI mandate confirmation	5 PM on September 18, 2024