Western Carriers (India) IPO
IPO Listing Details
- Listing Date
24 Sep 2024
- Listing Price
₹170.00
- Listing Change
-1.16%
- Last Traded Price
₹128.30
IPO Details
- Open Date
13 Sep 2024
- Close Date
19 Sep 2024
- IPO
Price Range
₹ 163 to ₹ 172
- IPO
Size
₹ 492.88 Cr
- Listing Exchange
BSE, NSE
- Listing Date
24 Sep 2024
IPO Timeline
Western Carriers (India) IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 13-Sep-24 | 0.00 | 0.40 | 1.54 | 0.85 |
| 16-Sep-24 | 0.03 | 5.61 | 7.75 | 5.09 |
| 17-Sep-24 | 0.10 | 13.32 | 13.93 | 9.85 |
| 18-Sep-24 | 0.14 | 21.90 | 19.61 | 14.54 |
| 19-Sep-24 | 28.81 | 46.64 | 26.79 | 31.62 |
Last Updated: 20 September 2024 12:05 PM by 5Paisa
Western Carriers (India) IPO is set to open on 13 September 2024 and will close on 19 September 2024. Western Carriers (India) Limited is a logistics company that focuses on rail transport and uses various modes of transport, like road, rail, water and air. They provide flexible logistics solutions and offer additional services that can be customized to meet specific needs.
The IPO includes a fresh issue of 2.33 Cr shares aggregating ₹400.00 Cr and an offer for sale of 0.54 Cr shares aggregating ₹92.88 Cr. The price range is set between ₹163 to ₹172 per share and the lot size is 87 shares.
The allotment is scheduled to be finalized on 20 September 2024. It will go public on BSE & NSE, with a tentative listing date of 24 September 2024.
Jm Financial Limited and Kotak Mahindra Capital Company Limited are the book-running lead managers, while Link Intime India Private Ltd is the registrar.
Western Carriers (India) IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹492.88 Cr |
| Offer For Sale | ₹92.88 Cr |
| Fresh Issue | ₹400.00 Cr |
Western Carriers (India) IPO Lot Size
| 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 Reservation
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| QIB | 28.81 | 57,31,163 | 16,50,92,679 | 2,839.59 |
| NII (HNI) | 46.64 | 42,98,372 | 20,04,76,014 | 3,448.19 |
| Retail | 26.79 | 1,00,29,535 | 26,87,32,560 | 4,622.20 |
| Total | 31.62 | 2,00,59,070 | 63,43,01,253 | 10,909.98 |
Western Carriers (India) IPO Anchor Allocation
| Anchor Bid Date | 12 September, 2024 |
| Shares Offered | 8,596,743 |
| Anchor portion Size (In ₹ Cr.) | 147.86 |
| Anchor lock-in period end date for 50% shares (30 Days) | 19 October, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | 18 December, 2024 |
1. Prepayment or partial repayment of the Company’s outstanding borrowings.
2. Funding the Company’s capital expenditure needs.
3. General corporate purposes.
Western Carriers (India) Limited, founded in March 2011, is a logistics company that focuses on rail transport but uses multiple modes like road, water and air. They offer customizable logistics services and work with various sectors including metals, FMCG, pharmaceuticals, chemicals, engineering, oil and gas and retail.
Their clients include well known companies like Tata Steel, Hindalco, JSW, Vedanta, Hindustan Unilever, Coca Cola India, Cipla, and many others. They also provide chartering services, stevedoring at Indian ports and coastal cargo movement within India, using an asset light model that combines rail and road transport.
As of 31 December 2022, the company served over 1,100 customers and employed 1,350 people across different departments.
Peers
● Container Corporation Of India Ltd.
● Mahindra Logistics Ltd
● TCI Express Limited
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue | 1691.41 | 1637.84 | 1475.79 |
| EBITDA | 151.82 | 126.45 | 108.89 |
| PAT | 80.35 | 71.57 | 61.13 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Total Assets | 754.01 | 604.14 | 490.33 |
| Share Capital | 39.35 | 39.35 | 39.35 |
| Total Borrowings | 266 | 210.47 | 150.4 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | 0.74 | 1.87 | 5.19 |
| Net Cash Generated From / (used in) investing activities | -39.85 | -35.84 | -3.01 |
| Net Cash Generated From / (used in) financing activities | 39.55 | 32.88 | -3.07 |
| Net Increase (Decrease) In Cash And Cash Equivalents | 0.43 | -1 | -0.89 |
Strengths
1. The company has extensive experience in delivering tailored logistics solutions and managing complex projects from start to finish.
2. They have built strong relationships with a diverse range of clients, offering comprehensive and integrated multi-modal logistics solutions.
3. Leveraging an asset-light business model, the company is well-positioned to capitalize on India’s rapidly growing logistics market, backed by a proven track record of growth and profitability.
Risks
1. The company relies heavily on a few major clients, and any loss or reduction in business from these clients could impact revenue.
3. The company’s logistics operations are exposed to risks such as transportation delays, accidents, and regulatory changes which could affect service delivery and costs.
4. The logistics industry in India is highly competitive and the company may face challenges in maintaining its market position and profitability due to aggressive competition.
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FAQs
Western Carriers (India) IPO opens from 13 September to 19 September 2024.
The size of Western Carriers (India) IPO is ₹492.88 crores.
The price of Western Carriers (India) IPO is fixed at ₹163 to ₹172 per share.
To apply for Western Carriers (India) IPO, follow the steps given below:
1. Login to your 5paisa account and select the issue in the current IPO section
2. Enter the number of lots and the price at which you wish to apply for the Western Carriers (India) IPO.
3. Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Western Carriers (India) IPO is 87 shares and the minimum investment required is ₹14,181.
The share allotment date of Western Carriers (India) IPO is 20 September 2024
The Western Carriers (India) IPO will be listed on 24 September 2024.
JM Financial Limited and Kotak Mahindra Capital Company Limited are the book-running lead managers for Western Carriers (India) IPO.
Western Carriers (India) plans to utilize the raised capital from the IPO for:
1. Prepayment or partial repayment of the Company’s outstanding borrowings.
2. Funding the Company’s capital expenditure needs.
3. General corporate purposes.
Contact Information
Western Carriers (India)
Western Carriers (India) Limited
2/6 Sarat Bose Road
2nd Floor,
Kolkata-700020
Phone: +91 33 2485 8519
Email: investors@westcong.com
Website: https://western-carriers.com/
Western Carriers (India) IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: westerncarriers.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Western Carriers (India) IPO Lead Manager
Jm Financial Limited
Kotak Mahindra Capital
