Western Carriers (India) Limited IPO (Western Carriers (India) IPO) Detail
Western Carriers India IPO: Logistics company Western Carriers India Limited has announced the price band for its IPO. The company has fixed a price band of Rs 163-172 per share for the public issue. This IPO will open on September 13 and close on September 18. Anchor book bidding will start on September 12. The company intends to raise Rs 492.88 crore through IPO. This IPO includes fresh shares as well as Offer for Sale (OFS).
Western Carriers India IPO to issue fresh shares worth Rs 400 crore
Under the IPO of Kolkata-based Western Carriers India, 2.32 crore fresh equity shares worth Rs 400 crore will be issued. Apart from this, 54 lakh equity shares worth Rs 92.88 crore will be sold through OFS. Promoter Rajendra Sethia will sell shares as part of OFS.
Rs 163.50 crore raised from the public issue will be used to repay the debt. Apart from this, capital expenditure of Rs 151.71 crore will be made. The total outstanding borrowing as of July 2024 was Rs 352.72 crore.
Business of Western Carriers India
Western Carriers India is India’s largest private, multi-modal, rail-focused, 4PL asset-light logistics firm by container volume handled by private companies, with a 6 per cent share in the domestic market and 2 per cent in the EXIM market. It has considerable experience in road, rail and sea/river multi-modal transport for both domestic and EXIM cargo.
Working on a scalable, asset-light model, it provides unique 3PL and 4PL solutions. The company provides customized, end-to-end logistics solutions, offering a range of value-added services to meet complex operational and supply chain needs.
Western Carriers (India) IPO Details
| IPO Date | September 13, 2024 to September 18, 2024 |
| Listing Date | [.] |
| Face Value | ₹5 per share |
| Price Band | ₹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 |
| Share holding pre issue | 78,699,400 |
| Share holding post issue | 101,955,213 |
Financials of Western Carriers India
Western Carriers India’s revenue in FY24 stood at Rs 1685.77 crore as against Rs 1633.06 crore a year ago. Net profit this year stood at Rs 80.35 crore as against Rs 71.57 crore last year.
Western Carriers (India) IPO Timeline (Tentative Schedule)
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 |
| 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 |
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 |
About Western Carriers (India) Limited
Incorporated in March 2011, Western Carriers (India) Limited is a Multi-modal, rail-focused, 4PL asset-light logistics company. The company offers fully customizable, multi-modal logistics solutions encompassing road, rail, water, and air transportation and a tailored range of value-added services.
Western Carriers India’s key clients include Tata Steel, Hindalco Industries, Vedanta, Balco, HUL, Coca-Cola India, Tata Consumer Products, Wagh Bakri, Cipla, Haldia Petrochemicals, MCPI, Gujarat Heavy Chemicals, BCPL and DHL. JM Financial and Kotak Mahindra Capital Company are the book-running lead managers to the issue.
