Kolkata-based Western Carriers (India) is floating a book-built IPO the target of which is to mop up Rs 492.88 crore through a fresh issue of Rs 400 crore (2.33 crore shares) and an OFS of Rs 92.88 crore (0.54 crore shares). The company wishes to utilise IPO proceeds for early repayment of a part of the outstanding loans. It also wants to purchase commercial vehicles and 40-feet containers and 20-feet normal shipping containers.
Western Carriers (India) provides tailor-made logistics over roads, railways, waterways and flights to prominent companies such as Tata Steel, Hindalco Industries, Jindal Stainless, Vedanta, BALCO, HUL, Cipla, Haldia Petrochemicals.
Significant dates
The process of application for subscription begins on September 13 and will close on September 18, 2024. The allotment of the shares will be finalised on September 19. The money will be refunded on September 20. The listing will take place on NSE and BSE on September 23.
Western Carriers IPO GMP, Price
The price of one equity share that has a face value of Rs 5 has been fixed at Rs 163-172. The minimum number of shares that a retail investor can bid for is 87. Therefore, the minimum amount of money that one needs to commit for a lot is Rs 14,964.
On September 12, the GMP stood at Rs o, according to investorgain. It indicates a listing gain of zero. A positive GMP indicates a listing price that will be the same as the upper band of the price ie, Rs 172. However, GMP is a dynamic estimate and can vary with time.
Financials
The revenues of Western Carriers (India) at the end of FY24, FY23 and FY22 stood at Rs 754.01 crore, Rs 604.14 crore and Rs 490.33 crore respectively. In the same years, profit after tax stood at Rs 80.35 crore, Rs 71.57 crore and Rs 61.13 crore respectively. The total borrowing of the company stood at Rs 266 crore, Rs 210.47 crore and Rs 150.4 crore in these three financial years respectively.
JM Financial Network and Kotak Mahindra Capital Company are the book running managers of the Western Carrier (India) public issue.
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Western Carriers (India) is a multi-modal, asset-light logistics company that has some of India’s biggest corporates on its client list. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
