Western Carriers (India) is launching its IPO (Initial Public Offering) on September 13, 2024, and it will close on September 18, 2024. Through this IPO, the company plans to raise about ₹492.88 crores. This amount includes a fresh issue of ₹400 crores and an offer for sale of 5.4 million shares with a face value of ₹5 each.
The price range for the shares will be ₹163 to ₹172 per share. The shares will be listed on the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) on September 23, 2024. For retail investors, 35% of the shares are available, while 50% is reserved for Qualified Institutional Buyers (QIB), and 15% for Non-Institutional Investors (NII).
Table of Contents
Company Financials and Performance
Western Carriers’ revenue for 2024 was ₹1,691.41 crores, compared to ₹1,637.84 crores in 2023. The profit in 2024 was ₹80.35 crores, up from ₹71.57 crores in 2023. With these numbers, investors might consider applying for the IPO for long-term benefits.
Key IPO Details:
| Details | Information |
|---|---|
| IPO Open Date | September 13, 2024 |
| IPO Close Date | September 18, 2024 |
| Price Band | ₹163 to ₹172 per share |
| Issue Size | ₹492.88 crores |
| Fresh Issue | ₹400 crores |
| Offer for Sale | 5.4 million shares |
| Listing | BSE & NSE |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
Market Lot for IPO
The minimum market lot for the Western Carriers IPO is 87 shares, which will cost ₹14,964. Retail investors can apply for a maximum of 13 lots (1,131 shares), with a total investment of ₹194,532.
Important Dates for Western Carriers IPO
- Open Date: September 13, 2024
- Close Date: September 18, 2024
- Allotment Date: September 19, 2024
- Refunds: September 20, 2024
- Listing Date: September 23, 2024
Company Background
Western Carriers (India) is one of India’s largest logistics companies. They offer a variety of services, including rail and road transport, cargo handling, ocean and air freight, and warehousing. With over 50 branches across the country, they have a strong presence and provide tailored logistics solutions to their clients. The company operates on an asset-light model, which helps them be more flexible and efficient.
Financial Report Highlights (₹ in crores)
- 2024 Revenue: ₹1,691.41
- 2023 Revenue: ₹1,637.84
- 2024 Profit: ₹80.35
- 2023 Profit: ₹71.57
Valuation and Peer Comparison
The company has a Return on Equity (ROE) of 22.41% and a Return on Capital Employed (ROCE) of 29.23%. Western Carriers competes with companies like Container Corporation of India and TCI Express.
How to Apply for Western Carriers IPO?
You can apply for the Western Carriers IPO online through ASBA (Application Supported by Blocked Amount) using your bank account or stock broker apps. You can also apply through UPI if your broker supports it.
Read Also: Tolins Tyres IPO 2024 Review, Price, Allotment Details
Western Carriers IPO FAQs:
What is the price band for Western Carriers IPO?
The price band is set between ₹163 and ₹172 per share.
When will the IPO be listed?
The IPO will be listed on September 23, 2024, on BSE and NSE.
How many shares can a retail investor apply for?
A retail investor can apply for a minimum of 87 shares and a maximum of 1,131 shares.
When is the allotment date?
The allotment will be finalized on September 19, 2024.
What is the total issue size of the IPO?
The total issue size is ₹492.88 crores.
In conclusion, Western Carriers (India) is a well-established logistics company with strong financials, making this IPO a potential long-term investment opportunity.
Read Also: Bajaj Housing Finance IPO Review, Price, Allotment Details
