Till September 16, Western Carriers (India) bagged subscriptions of 5.13 times overall and 7.84 times in the retail section. It has priced an equity share bearing a face value of Rs 5 at Rs 163-172. The minimum investible lot has been fixed at 87 shares for a retail investor, which means that one has to commit an investment of Rs 14,964 to apply for one lot. Allotment will be finalised on September 19, 2024.
The IPO originally targeted to raise Rs 492.88 crore. On offer were 2.33 crore fresh shares that cost Rs 400 crore and 54 lakh shares via OFS (offer for sale) valued at Rs 92.88 crore. In its prospectus the company has stated that one of the key utilities of the proceeds of this IPO will be to buy commercial vehicles, containers that are 40 feet long and those that are 20 feet long.
Western Carriers (India) GMP
According to investorgain, the Grey Market Premium or GMP of the share stood at 0 on September 12 but rose dramatically since. The GMP on September 16 stood at Rs 62, while on September 15, 14 and 12, it was at Rs 57. The GMP of Rs 62 indicates a listing gain of 36.05% since the share is priced at Rs 172 at the upper end of the price band. However, it must be borne in mind that GMP is an unofficial estimate.
Western Carriers (India) Financials
Western Carriers (India) has been delivering profits for the past three years consistently. The revenue of the company stood at Rs 754.01 crore, Rs 604.14 crore and Rs 490.33 crore at the end of FY24, FY23 and FY22 respectively.
In these 3 financial years, the net profit of this Kolkata-based company was recorded at Rs 80.35 crore, Rs 71.57 crore and Rs 61.13 crore. The total borrowing of this logistics firm was recorded at Rs 266 crore, Rs 210.47 crore and Rs 150.4 crore in FY24, FY23 and FY22.
Major companies such as Tata Steel, Hindalco Industries, Jindal Stainless, Vedanta, BALCO, HUL, Cipla, HPL (Haldia Petrochemicals) feature among the customers of Western Carriers (India).
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Western Carriers (India) is a company that is based in Kolkata, offers logistics services across multiple modes and has several big corporates on its client list. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
