Western Carriers (India) Ltd IPO Opens On September 13. Check IPO Details Issue Date Price

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Western Carriers (India) Ltd IPO Opens On September 13. Check IPO Details Issue Date Price

September 13, 2024
Western Carriers (India) Ltd IPO Opens On September 13. Check IPO Details Issue Date Price

Western Carriers (India) Limited is coming out with an initial public offer to raise Rs. 492.88 crores from the market.

Below are the details of the Western Carriers (India) Limited IPO:

  • Issue opens – September 13 (Friday)
  • Issue closes – September 19 (Thursday)
  • Issue size – Rs. 492.88 crores
  • Price band – Rs. 228 to 240 per equity share
  • Bid lot – 87 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Western Carriers (India) Limited is the largest private, multi-modal, rail focused, 4PL asset-light logistics company in India in terms of container volumes handled/operated by private players in Fiscal 2023. Their domestic and EXIM market share, based upon container volumes handled, was 6% and 2%, respectively, in Fiscal 2023 (Source: 1Lattice Report). They have several years of experience in road, rail and sea / river multi-modal movement for domestic as well as EXIM cargo in and out of India.
  • They operate on a scalable, asset-light business model which enables them to provide differentiated 3PL and 4PL solutions. They endeavour to address complexities (in terms of scale of operations and logistics requirements) by creating customised, one-stop/single-window, end-to-end and integrated logistics solutions for their customers, which involve a variety of value-added services across the supply chain.
  • They have long-standing relationships with customers across varied sectors such as metals, fast moving consumer goods (“FMCG”), pharmaceuticals, chemicals, engineering, oil and gas and retail. Some of their key customers include: Tata Steel Limited (“Tata Steel”), Hindalco Industries Limited (“Hindalco”), Jindal Stainless Limited (“JSL”), JSW Steel Coated Products Limited (“JSW”), Bharat Aluminium Company Limited (“BALCO”) and Vedanta Limited (“Vedanta”) Hindustan Unilever Limited (“HUL”), Hindustan Coca Cola Beverages Private Limited (“Coca Cola India”), Tata Consumer Products Limited (“Tata Consumer”),Gujarat Tea Processors and Packers Limited (“Wagh Bakri”) and CG Foods India Private Limited (“CG Foods”)  Cipla Limited (“Cipla”), Materials Chemicals and Performance Intermediaries Private Limited (“MCPI”) (formerly, MCC PTA India Corp. Private Limited, a subsidiary of Mitsubishi Chemical Corporation), Haldia Petrochemicals Limited (“Haldia”) and Gujarat Heavy Chemicals Limited (“GHCL”)  Brahmaputra Cracker and Polymer Limited (“BCPL”) Sheela Foam Limited (“Sleepwell”) and DHL Logistics Private Limited (“DHL”).

Issue Size : Rs. 492.88 Cr

Issue break-up :

QIB – 50 % of the offer – Rs. 246.44 Cr.
NIB – 15 % of the offer – Rs. 73.93 Cr.
RET – 35 % of the offer – Rs. 172.51 Cr.

Listing : BSE & NSE

Registrar : Link Intime India Private Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Thursday, September 19th, 2024.

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