The initial public offering (IPO) of Western Carriers will open for subscription on September 13. The issue closes on September 18. Through the public offer, the company plans to raise nearly Rs 493 crore. Here are 10 things to know about the Western Carriers IPO before subscribing to the issue.
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1) What is the business overview of Western Carriers?
With a pan-India presence, Western Carriers operates over 50 branch offices, 16 warehouses across 12 states, and 55 major public rake handling points, providing extensive first- and last-mile connectivity. As of March 31, 2024, the company had a customer base of 1,647 across industries like metals, FMCG, pharmaceuticals, chemicals, and oil & gas. Key clients include Tata Steel, Hindalco Industries, HUL, and DHL.
2) What is the industry overview of Western Carriers?
Logistics sector is a core enabler for the development of India to reach the government’s vision of achieving a $5 trillion economy by the year 2025. Robust expansion led by an increase in public infrastructure spending through policies such as the NLP, the DFCs, Gati Shakti Master Plan (aims to reduce logistics costs to 7% to 8% of GDP).
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3) What is the current GMP of Western Carriers?
According to market analysts, the current GMP of Western Carriers is Rs 0 in the unlisted market.
4) What is the size of Western Carriers IPO?
The IPO includes a fresh issue of up to 2.32 crore shares and an offer for sale (OFS) of up to 54 lakh shares.
5) What is the price band for Western Carriers IPO?
The company has fixed a price band of Rs 163-172 for the public offer, where investors can bid for 87 shares in one lot.
6) What is the structure of Western Carriers IPO?
About 50% in the public offer is reserved for qualified institutional buyers, 35% for retail investors and the rest 15% for non-institutional investors.
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7) How is the financial performance of Western Carriers?The company’s consolidated revenue from operations increased 4% to Rs 1686 crore for FY24. Profit after tax rose 12% to Rs 80.3 in the same period.
8) What are the objects of Western Carriers IPO?Proceeds from the fresh issue will be used to repay borrowings, fund capital expenditure for the purchase of commercial vehicles, containers, and reach stackers, with the remainder allocated for general corporate purposes.
9) Who are the book-running lead managers for Western Carriers IPO?JM Financial and Kotak Mahindra Capital Company are the book-running lead managers for the IPO
10) When is the share allotment and listing date of Shree Tirupati Balajee Agro Trading IPO?The share allotment for the IPO will likely be finalised on September 19 and the company is anticipated to list on stock exchanges on September 23.
