Western Carriers (India) Limited is a leading player in the asset-light logistics sector, specializing in multi-modal transportation across road, rail, and sea/river routes. As the largest private, multi-modal, rail-focused logistics company in India by container volumes handled in Fiscal 2023, Western Carriers has extensive experience managing domestic and EXIM cargo within and outside India.

The company is set to launch its book-built IPO with an issue amounting to ₹492.88 Crores. This comprises a fresh issue of 232.55 lakh shares worth ₹400.00 Crores and an offer for sale of 54 lakh shares totaling ₹92.88 Crores. The subscription period for the IPO will open on September 13, 2024, and close on September 18, 2024. The shares are expected to be listed on both BSE and NSE by September 23, 2024.

The IPO is priced between ₹163 and ₹172 per equity share, with a minimum lot size of 87 shares. Retail investors need to invest a minimum of ₹14,964, while High-Net-Worth Individuals (HNIs) must invest in 14 lots (1,218 shares) for a total of ₹209,496.

Kotak Mahindra Capital Company Limited and JM Financial Limited are the book-running lead managers, and Link Intime India Private Limited serves as the registrar for the issue.

The Grey Market Premium (GMP) for Western Carriers (India) IPO is anticipated to range between ₹95 and ₹105. This premium reflects the market's sentiment and demand but does not guarantee the final listing price, which will be determined by actual trading dynamics.

Live Subscription Status: As of September 13, 2024, 00:00 PM, the IPO subscription status shows active participation. For real-time updates, check the subscription status on the BSE website.

Anchor Investors Report: Western Carriers (India) has secured investments from prominent anchor investors such as HDFC Trustee Capital, Nippon Life India Trustee, and Axis Mutual Fund Trustee, among others. The exact amount raised and the price per share allocated to anchor investors will be disclosed in the detailed report.

IPO Allotment: The allotment of shares is expected to be finalized on September 19, 2024. Investors can check their allotment status on the registrar’s website by selecting Western Carriers (India) Limited IPO and entering the required details like application number, PAN, or DP Client ID.

Objectives of the IPO: The proceeds from the IPO will be used for:

₹1,635.00 Crores for prepayment or scheduled repayment of outstanding borrowings.

₹1,517.10 Crores for capital expenditure on commercial vehicles, specialized containers, and reach stackers.

General corporate purposes.

Western Carriers (India) has a rich history dating back to 1972 when its promoter, Rajendra Sethia, started a rail-focused logistics business. This business evolved and was acquired by the company in 2013. Over the decades, Western Carriers has grown to provide comprehensive, customized logistics solutions integrating road, rail, water, and air transport.

The IPO's financial metrics and Grey Market Premium indicate strong investor interest, suggesting potential for listing gains. Given the company's solid market position and financial stability, it is recommended for both short-term listing gains and long-term investment.

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