Western Carriers (India) IPO
GMP, Subscription, Price, Dates & Financial Details
Western Carriers (India) stands as the largest private, multi-modal, rail-focused, asset-light logistics company in India by container volumes for Fiscal 2022. Dominating both domestic and EXIM (Export-Import) markets, the company achieved a market share of 7% and 3%, respectively, for container…
Open Date
Fri, 13 Sep 2024
Close Date
Thu, 19 Sep 2024
Price Band
₹ 163 – 172
Lot Size
87
Issue Size
₹ 492.88 Cr
Minimum Investment
₹ 14,964 (87 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Western Carriers (India) IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹492.88 Crore, comprising a fresh issue of 2.33 Crore equity shares aggregating to ₹400.00 Crore and an offer for sale (OFS) of 54.00 Lakh equity shares aggregating to ₹92.88 Crore by the existing shareholders.
The Western Carriers (India) IPO remained open for subscription from September 13, 2024, to September 19, 2024. The basis of allotment was finalized on September 20, 2024, and the company's shares were listed on the NSE and BSE on September 24, 2024.
The company had fixed the price band at ₹163 to ₹172 per share, with a lot size of 87 shares. Retail investors were required to make a minimum investment of ₹14,964 (based on the upper price band) to apply for one lot.
MUFG Intime India Private Limited served as the registrar to the issue. JM Financial Limited, and Kotak Mahindra Capital Company Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Western Carriers (India) Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Western Carriers (India) IPO Timeline (Tentative)
- IPO Open Date
- Fri, 13 Sep 24
- IPO Close Date
- Thu, 19 Sep 24
- Basis of Allotment
- Fri, 20 Sep 24
- Initiation of Refunds
- Mon, 23 Sep 24
- Credit of Shares to Demat
- Mon, 23 Sep 24
- Listing Date
- Tue, 24 Sep 24 — NSE & BSE
Open Date
13 September 2024
Close Date
19 September 2024
Basis Of Allotment
20 September 2024
Listing Date
24 September 2024
IPO Subscription
Check Live Subscription →The Western Carriers (India) IPO has received bids for 63,74,29,425 shares against 2,08,68,467 shares offered, resulting in an overall subscription of 30.55x. the NII category is subscribed 44.71x, Retail Investors 25.92x, and QIBs 27.99x. Within the NII category, BNII is subscribed 39.86x, while SNII is subscribed 54.39x.
QIB
27.99x
NII
44.71x
BNII
39.86x
SNII
54.39x
RII
25.92x
Total
30.55x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 1,00,29,535 shares, representing 35% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 57,31,163 shares (20%), while Non-Institutional Investors (NIIs) receive 42,98,372 shares (15%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Anchor Investors | 8,596,743 | 30% |
| Qualified Institutions | 5,731,163 | 20% |
| Non-Institutional | 4,298,372 | 15% |
| BNII | 2,865,581 | 10% |
| SNII | 1,432,791 | 5% |
| Retail Investors | 10,029,535 | 35% |
| Total | 28,655,813 | 100% |
Financials Details(₹ in Crores)
| Particular | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 754.01 | 604.14 | 490.33 |
| Revenue | 1691.41 | 1637.84 | 1475.79 |
| Profit After Tax | 80.35 | 71.57 | 61.13 |
| Net Worth | 398.36 | 318.61 | 257.58 |
| Reserve & Surplus | 359.01 | 279.08 | 157.12 |
| Total Borrowings | 266 | 210.47 | 150.4 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Western Carriers (India) Limited KPI Information
| Particular | KPI as of March 31, 2024. |
|---|---|
| ROE % | 22.41 |
| ROCE % | 29.23 |
| Debt / Equity | 0.67 |
| RoNW % | 20.17 |
| PbW | 3.4 |
Peers Comparison
No Peer Comparision Available
About Western Carriers (India) Limited
Western Carriers (India) stands as the largest private, multi-modal, rail-focused, asset-light logistics company in India by container volumes for Fiscal 2022. Dominating both domestic and EXIM (Export-Import) markets, the company achieved a market share of 7% and 3%, respectively, for container volumes during that period.
With a legacy spanning five decades, Western Carriers (India) brings extensive expertise in road, rail, sea, and river multi-modal transportation. Its Promoter, Rajendra Sethia, has been a key figure in the logistics sector since founding a rail-focused logistics business in 1972. This business was acquired by Western Carriers (India) in 2013, further cementing the company's leadership in the industry.
Adopting a scalable and asset-light model, Western Carriers (India) delivers innovative 3PL (third-party logistics) and 4PL (fourth-party logistics) solutions. The company specializes in managing the complexities of the supply chain with tailored, integrated, end-to-end logistics solutions. These offerings include a range of value-added services, ensuring a seamless experience for their clients.
Western Carriers (India) IPO Promoters
Promoters of the company
- Rajendra Sethia
- Kanishka Sethia
Promoters Holding
Holding Pre Issue
99.99%
Holding Post Issue
71.89%
Western Carriers (India) IPO Objective
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 utilised in the following manner:
- Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the Company;
- Funding of capital expenditure requirements of our Company towards purchase of:
- commercial vehicles
- 40 feet specialised containers and 20 feet normal shipping containers
- reach stackers
- General corporate purposes
Western Carriers (India) Limited Address / Contact Details
Western Carriers (India) Limited
2/6 Sarat Bose Road 2nd Floor,
Kolkata-700020 West Bengal, India
Phone: +91 33 2485 8519
Email: investors@westcong.com
Website: https://western-carriers.com
IPO Snapshot
Western Carriers (India) IPO Lot Size
The Western Carriers (India) IPO has a lot size of 87 shares. Retail investors require a minimum investment of ₹14,964 by applying for 1 lot (87 shares). The maximum application allowed for the retail category is 13 lots (1,131 shares), requiring an investment of ₹1,94,532.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 87 | 14,964.00 |
| Retail (Max) | 13 | 1,131 | 194,532.00 |
| S-HNI (Min) | 14 | 1,218 | 209,496.00 |
| S-HNI (Max) | 66 | 5,742 | 987,624.00 |
| B-HNI (Min) | 67 | 5,829 | 1,002,588.00 |
Issue Reservation
- Anchor Investors — 30%
- QIB — 20%
- NII — 15%
- RII — 35%
Book Running Lead Managers
- JM Financial Limited
- Kotak Mahindra Capital Company Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Western Carriers (India) IPO?
Western Carriers (India) IPO is a Book-building IPO with a total issue size of ₹492.88 crore. The Western Carriers (India) IPO price band is ₹163 to 172 per share. The Western Carriers (India) IPO subscription opens on Fri, Sep 13, 2024, and closes on Thu, Sep 19, 2024. The Western Carriers (India) IPO will be listed on the BSE,NSE. MUFG Intime India Private Limited is the registrar for the Western Carriers (India) IPO.
When will the Western Carriers (India) IPO open for subscription?
The Western Carriers (India) IPO opens on Fri, Sep 13, 2024 and closes on Thu, Sep 19, 2024
What is Western Carriers (India) IPO Price Band?
Western Carriers (India) IPO Price Band is ₹163 to 172 per share.
What is Western Carriers (India) IPO Lot Size?
Western Carriers (India) IPO lot size is 87 shares, Retail investors need a minimum investment of ₹14964 based on the upper price band
What is the minimum investment for Western Carriers (India) IPO?
The minimum investment for Western Carriers (India) IPO is ₹14964, based on one lot of 87 shares at the upper price band of ₹172 per share.
How to apply for Western Carriers (India) IPO?
Investors can apply for the Western Carriers (India) IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Thu, Sep 19, 2024. The application amount remains blocked until the Western Carriers (India) IPO allotment is finalized.
What is Western Carriers (India) IPO Issue Size?
Western Carriers (India) IPO issue size is ₹492.88 crores.
What is the Western Carriers (India) IPO Allotment Date?
Western Carriers (India) IPO allotment date is Fri, Sep 20, 2024.
Who is the Western Carriers (India) IPO Registrar?
The registrar for Western Carriers (India) IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check Western Carriers (India) IPO allotment status, refund processing, and other IPO-related information.
What is the Western Carriers (India) IPO GMP?
The Western Carriers (India) IPO GMP (Grey Market Premium) is ₹16 as of Tue, Sep 24, 2024. Based on the upper price band of ₹172 per share, the estimated Western Carriers (India) IPO listing price is ₹188, indicating a potential listing gain of approximately 9.30% over the issue price.
Who is the Western Carriers (India) IPO Lead Manager?
The book-running lead managers (BRLMs) for the Western Carriers (India) IPO are JM Financial Limited, and Kotak Mahindra Capital Company Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Western Carriers (India) IPO Red Herring Prospectus (RHP).