Western Carriers (India) Limited IPO: Analysis, GMP & Subscription Status
Introduction
Western Carriers (India) Limited, a key player in the logistics industry, is coming up with its IPO with an issue size of ₹492.88 crore. The company aims to use the proceeds to enhance its infrastructure and reduce debt. Here’s a complete overview of the IPO details, financial performance, and other key information.
IPO Details
The IPO of Western Carriers (India) Limited opens on Friday, September 13, 2024, and closes on Wednesday, September 18, 2024. The price band is set at ₹163 to ₹172 per share, with a lot size of 87 shares. The total issue size consists of 28,655,813 shares, aggregating up to ₹492.88 crore. Of this, ₹400 crore will come from the fresh issue, while ₹92.88 crore is reserved for the offer for sale (OFS). Post-issue, the shareholding will increase to 101,955,213 shares from the pre-issue shareholding of 78,699,400 shares. The shares will be listed on both BSE and NSE.
Important Dates Western Carriers (India) Limited IPO
| Event |
Date |
| 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 |
| UPI Mandate Confirmation Cut-Off |
5 PM on September 18, 2024 |
Western Carriers Limited Financial Performance
Western Carriers has shown steady growth over the last few years. Below are the verified financial highlights:
| Particulars (₹ in Crore) |
FY24 |
FY23 |
FY22 |
| 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 & Surplus |
359.01 |
279.08 |
157.12 |
| Total Borrowing |
266 |
210.47 |
150.4 |
These financials reflect the company’s growing assets, consistent revenue increase, and profitability, indicating a solid financial foundation.
Grey Market Premium (GMP) and Subscription Stats
IPO Grey Market Premium (GMP)
| Date |
GMP (₹ per share) |
| September 13, 2024 |
₹₹35 |
| September 16, 2024 |
₹62 |
| September 17, 2024 |
₹56 |
| September 18, 2024 |
₹50 |
| September 19, 2024 |
₹25 |
Note: GMP details will be updated closer to the IPO launch.
Subscription Status
| Category |
Subscription times (Day 1) |
Subscription times (Day 2) |
Subscription times (Day 3) |
Subscription times (Day 4) |
Subscription times (Day 5) |
| QIB (Qualified Institutional Buyers) |
0.00 |
0.03 |
0.05 |
0.12 |
28.81 |
| NII (Non-Institutional Investors) |
0.24 |
5.62 |
10.69 |
18.26 |
46.68 |
| RII (Retail Individual Investors) |
1.21 |
7.84 |
12.22 |
17.47 |
26.92 |
| Total Subscription |
0.66 |
5.13 |
8.42 |
12.68 |
31.69 |
Subscription stats will be updated as the IPO progresses.
Company Overview
Western Carriers (India) Limited is a Kolkata-based logistics company with over a decade of experience offering comprehensive logistics solutions across India. The company provides end-to-end supply chain services, including transportation, warehousing, and distribution, serving major industries such as FMCG, automotive, and chemicals. With its strong market presence, Western Carriers has built a reputation for efficiency, reliability, and cost-effective logistics solutions.
Objectives of the IPO
The proceeds from the IPO will be used for:
- Expanding logistics and warehousing infrastructure.
- Reducing existing borrowings.
- General corporate purposes.
How to Apply for the IPO
Investors can apply for the Western Carriers (India) Limited IPO through the ASBA (Application Supported by Blocked Amount) process via their bank’s net banking platform or using UPI (Unified Payments Interface) through brokers. Retail investors need to apply in multiples of the lot size of 87 shares. Ensure you have sufficient funds in your bank account for the blocked amount while applying for the IPO.
Steps to Apply:
- Login to your bank’s net banking portal or broker platform.
- Select the IPO option from the menu.
- Choose Western Carriers (India) Limited IPO from the list.
- Enter the number of lots you wish to apply for and the price within the price band.
- Submit your application and approve the mandate on your UPI app if applying through UPI.
Should You Invest?
Western Carriers is a well-established player in the logistics sector, with a solid track record of financial performance. The IPO proceeds are aimed at expanding its infrastructure and reducing debt, positioning the company for further growth. Investors looking for exposure to the logistics sector may find this IPO a promising opportunity, given the company’s steady growth and expansion plans. However, as with any investment, it is important to consider the risks and perform due diligence before making any decisions.
Conclusion
The Western Carriers (India) Limited IPO presents a valuable opportunity to invest in one of India’s leading logistics companies. With its strong financials and expansion plans, the company is well-positioned for growth in the logistics sector. Investors should keep an eye on the GMP and subscription stats closer to the IPO date to gauge market sentiment.
Headlines
- Western Carriers (India) Limited IPO 2024: Dates, Price, and Financial Performance
- How to Apply for Western Carriers (India) Limited IPO: Price Band and Key Details
- Western Carriers (India) Limited IPO: Key Dates, Subscription Stats, and GMP
- Logistics Sector IPO: Everything You Need to Know About Western Carriers IPO
- Western Carriers (India) Limited IPO Review: Should You Invest?