The Western Carriers IPO is set to open on September 13 and close on September 18. This Book Built Issue aims to raise approximately ₹492.88 crores, comprising a fresh issue of shares worth ₹400 crores and an offer for sale of up to 5,400,000 equity shares, each with a face value of ₹5.
The price band for the IPO is between ₹163 and ₹172 per share. Allocation details are as follows: 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net-Worth Individuals (HNIs). The shares are expected to be listed on both BSE and NSE on September 23, with the allotment date set for September 19.
In terms of financial performance, the company reported revenue of ₹1,691.41 crores in 2024, up from ₹1,637.84 crores in 2023. The profit increased to ₹80.35 crores in 2024, compared to ₹71.57 crores in 2023. The company also showed steady growth with revenue of ₹1,475.79 crores in 2022, up from ₹1,113.9 crores in 2021, and net profit rising to ₹61.13 crores in 2022 from ₹44.53 crores in 2021. Given these financial indicators, investors may find this IPO appealing for long-term investment prospects.
Western Carriers IPO Objectives
The net proceeds from the Fresh Issue, after deducting Offer expenses, will be used for:
Prepaying or repaying part of the company’s outstanding borrowings.
Funding capital expenditures, including:
Purchase of commercial vehicles.
Acquisition of 40-foot specialized containers and 20-foot standard shipping containers.
Acquisition of reach stackers.
General corporate purposes.
Western Carriers IPO Review
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Western Carriers IPO Dates & Price Band
| IPO Open Date: | September 13, 2024 |
| IPO Close Date | September 18, 2024 |
| Face Value: | ₹5 Per Equity Share |
| IPO Price Band: | ₹163 to ₹172 Per Share |
| Issue Size: | Approx ₹492.88 Crores |
| Fresh Issue: | Approx ₹400 Crores |
| Offer for Sale: | Approx 5,400,000 Equity Shares |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
Western Carriers IPO Lot Size
The minimum lot size for the Western Carriers (India) IPO is 87 shares, with an application amount of ₹14,964. Retail investors can apply for up to 13 lots, totaling 1,131 shares, which amounts to ₹194,532
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 87 | ₹ 14,964 |
| Retail Maximum | 13 | 1,131 | ₹ 1,94,532 |
| S-HNI Minimum | 14 | 1,218 | ₹ 2,09,496 |
| B-HNI Minimum | 67 | 5,829 | ₹ 10,02,588 |
Western Carriers IPO Timeline
The Western Carriers (India) IPO will start on September 13 and end on September 18. The final allotment of shares will happen on September 19, and the shares will be listed on the stock exchanges on September 23.
| IPO Open Date: | September 13, 2024 |
| IPO Close Date: | September 18, 2024 |
| Basis of Allotment: | September 19, 2024 |
| Refunds: | September 20, 2024 |
| Credit to Demat Account: | September 20, 2024 |
| IPO Listing Date: | September 23, 2024 |
Read Also: Northern Arc Capital IPO Date, Review, Price, Allotment Details
Western Carriers IPO GMP Today
Update coming soon
Promoters
The Western Carriers (India) IPO is promoted by Rajendra Sethia and Kanishka Sethia.
About Western Carriers (India) Limited
Western Carriers (India) Limited is the largest private multimodal logistics provider in India, focusing on rail transport and operating on a scalable, asset-light model. With over 50 branches across the country, they offer a wide range of services, including logistics, multimodal transportation, rail and road transport, cargo handling, customs, ocean and air freight, and warehousing. The company aims to provide integrated and customized supply chain solutions, ensuring seamless service for clients. Their emphasis on customer service, operational efficiency, and timely deliveries has made them a reliable partner for many.
Financial Report
In 2022, Western Carriers reported revenue of ₹1,475.79 crores, up from ₹1,113.9 crores in 2021. The profit increased to ₹61.13 crores in 2022, compared to ₹44.53 crores in 2021.
| Amount in crores | ||||
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2021 | ₹ 1,113.90 | ₹ 1,053.88 | ₹ 44.53 | ₹ 425.22 |
| 2022 | ₹ 1,475.79 | ₹ 1,392.43 | ₹ 61.13 | ₹ 490.33 |
| Dec-22 | ₹ 1,210.61 | ₹ 1,136.64 | ₹ 55.09 | ₹ 572.14 |
Western Carriers IPO Valuation – FY2022
Review the Western Carriers (India) IPO valuation details
| KPI | Values |
| ROE: | 26.92% |
| ROCE: | 33.40% |
| EBITDA Margin: | 7.40% |
| PAT Margin: | 4.16% |
| Debt to equity ratio: | 0.58 |
| Earning Per Share (EPS): | ₹7.77 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 23.73% |
| Net Asset Value (NAV): | ₹ 32.73 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Container Corporation of India Limited | 17.27 | 38.69 | 9.69 | 178.18 | 7652.73 Cr. |
| Mahindra Logistics Limited | 5.16 | 70.84 | 5.85 | 82.18 | 4083.03 Cr. |
| TCI Express Limited | 33.48 | 46.46 | 24.03 | 139.29 | 1081.47 Cr. |
Western Carriers IPO Registrar
- Link Intime India Private Ltd
- Phone: +91-22-4918 6270
- Email: westerncarriers.ipo@linkintime.co.in
- Website: Link Intime
IPO Lead Managers (Merchant Bankers)
- JM Financial Limited
- Kotak Mahindra Capital Company Limited
Company Address
- Western Carriers (India) Limited
- 2/6 Sarat Bose Road, 2nd Floor
- Kolkata-700020
- Phone: +91 33 2485 8519
- Email: investors@westcong.com
- Website: Western Carriers
Western Carriers IPO FAQs
What is the Western Carriers IPO?
The Western Carriers IPO is a main-board offering aiming to raise ₹492.88 crores. The issue price is between ₹163 and ₹172 per share. The IPO will be listed on both BSE and NSE.
When will the Western Carriers IPO open for subscription?
The IPO will open on September 13, 2024, and close on September 18, 2024, for all types of investors including QIBs, NIIs, and Retail investors.
What is the allocation for different types of investors?
Qualified Institutional Buyers (QIBs): 50%
Non-Institutional Investors (NIIs): 15%
Retail Investors: 35%
How can you apply for the Western Carriers IPO?
You can apply through ASBA online via your bank account, or via UPI through your stockbroker. Alternatively, you can fill out an offline application form through your stockbroker.
What is the issue size of the Western Carriers IPO?
The issue size is ₹492.88 crores.
What is the price band for the Western Carriers IPO?
The price band is ₹163 to ₹172 per share.
What is the minimum lot size for the Western Carriers IPO?
The minimum bid is for 87 shares, costing ₹14,964.
When is the Western Carriers IPO allotment date?
The allotment date is September 19, 2024.
