Western Carriers (India) is launching a book-built IPO to raise ₹492.88 crore. This includes a fresh issue of 2.33 crore shares worth ₹400 crore and an offer for sale of 0.54 crore shares valued at ₹92.88 crore.
The IPO opened for subscription on September 13, 2024, and will close on September 19, 2024. Allotment is expected on September 20, 2024, with the listing scheduled on BSE and NSE on September 24, 2024.
The price band is set between ₹163 and ₹172 per share. The minimum application size is 87 shares, requiring retail investors to invest at least ₹14,964. For sNII, the minimum investment is ₹209,496 for 1,218 shares, and for bNII, it is ₹1,002,588 for 5,829 shares.
Below are the details of Western Carriers (India) Limited IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Western Carriers (India) Limited IPO Detail
| IPO Date | September 13, 2024 to September 19, 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 |
Western Carriers (India) Limited IPO Timeline
| IPO Open Date | Friday, September 13, 2024 |
| IPO Close Date | Thursday, September 19, 2024 |
| Basis of Allotment | Friday, September 20, 2024 |
| Initiation of Refunds | Monday, September 23, 2024 |
| Credit of Shares to Demat | Monday, September 23, 2024 |
| Listing Date | Tuesday, September 24, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 19, 2024 |
Western Carriers (India) Limited 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) Limited IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 85,96,743 (30%) | NA |
| QIB Shares Offered | 57,31,163 (20%) | NA |
| NII (HNI) Shares Offered | 42,98,372 (15%) | |
| bNII > ₹10L | 28,65,581 (10%) | 2,352 |
| sNII < ₹10L | 14,32,791 (5%) | 1,176 |
| Retail Shares Offered | 1,00,29,535 (35%) | 1,15,282 |
| Total Shares Offered | 2,86,55,813 (100%) |
Western Carriers (India) Limited IPO Anchor Investors
| Bid Date | September 12, 2024 |
| Shares Offered | 8,596,743 |
| Anchor Portion Size (In Cr.) | 147.86 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 19, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 18, 2024 |
Western Carriers (India) Limited IPO 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) Limited IPO Review
Western Carriers (India) Ltd. (WCIL) is the largest private, multi-modal, rail-focused, 4PL asset-light logistics company in India, with significant expertise in handling both domestic and EXIM cargo. With its scalable, asset-light business model, WCIL provides tailored logistics solutions, maintaining strong customer relationships across sectors like metals, FMCG, and pharmaceuticals. The company has reported consistent financial growth, with PAT margins improving annually, and aims to further expand services in the coming years.
WCIL’s IPO, priced between ₹163-172 per share, offers a promising investment opportunity, supported by its steady growth, favorable market position, and future potential in the expanding logistics sector.