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 |
