Bookbuilding IPO | ₹493 Cr | Listed at BSE, NSE | Fri, Sep 13, 2024 - Thu, Sep 19, 2024
Western Carriers IPO is a book build issue of ₹492.88 crores. The issue is a combination of fresh issue of 2.33 crore shares aggregating to ₹400.00 crores and offer for sale of 0.54 crore shares aggregating to ₹92.88 crores.
Western Carriers IPO bidding started from Sep 13, 2024 and ended on Sep 19, 2024. The allotment for Western Carriers IPO was finalized on Sep 20, 2024. The shares got listed on BSE, NSE on Sep 24, 2024.
Western Carriers IPO price band is set at ₹172 per share. The lot size for an application is 87. The minimum amount of investment required by an retail is ₹14,964 (87 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,218 shares), amounting to ₹2,09,496, and for bNII, it is 67 lots (5,829 shares), amounting to ₹10,02,588.
JM Financial Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Western Carriers IPO RHP for detailed Information.
IPO Open
Fri, Sep 13, 2024
IPO Close
Thu, Sep 19, 2024
Issue Price
₹172 per share
Market Cap (Pre-IPO)
₹1,753.63 Cr
| IPO Date | 13 to 19 Sep, 2024 |
| Listed on | Tue, Sep 24, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹163 to ₹172 |
| Issue Price | ₹172 per share |
| Lot Size | 87 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,86,55,813 shares (agg. up to ₹493 Cr) |
| Fresh Issue | 2,32,55,813 shares (agg. up to ₹400 Cr) |
| Offer for Sale | 54,00,000 shares of ₹5 (agg. up to ₹93 Cr) |
| Share Holding Pre Issue | 7,86,99,400 shares |
| Share Holding Post Issue | 10,19,55,213 shares |
| BSE Script Code / NSE Symbol | 544258 / WCIL |
| ISIN | INE0CJF01024 |
Western Carriers IPO offers total 2,86,55,813 shares. Out of which 1,43,27,906 (50.00%) allocated to QIB, 57,31,163 (20.00%) allocated to QIB (Ex- Anchor), 42,98,372 (15.00%) allocated to NII 1,00,29,535 (35.00%) allocated to RII and 85,96,743 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,43,27,906 (50.00%) | NA |
| − Anchor Investor Shares Offered | 85,96,743 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 57,31,163 (20.00%) | NA |
| NII (HNI) Shares Offered | 42,98,372 (15.00%) | NA |
| − bNII > ₹10L | 28,65,581 (10.00%) | 2,352 |
| − sNII < ₹10L | 14,32,791 (5.00%) | 1,176 |
| Retail Shares Offered | 1,00,29,535 (35.00%) | 1,15,282 |
| Total Shares Offered | 2,86,55,813 (100.00%) |
Investors can bid for a minimum of 87 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 87 | ₹14,964 |
| Retail (Max) | 13 | 1,131 | ₹1,94,532 |
| S-HNI (Min) | 14 | 1,218 | ₹2,09,496 |
| S-HNI (Max) | 66 | 5,742 | ₹9,87,624 |
| B-HNI (Min) | 67 | 5,829 | ₹10,02,588 |
Western Carriers IPO raises ₹147.86 crore from anchor investors. Western Carriers IPO Anchor bid date is September 12, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Sep 12, 2024 |
| Shares Offered | 85,96,743 |
| Anchor Portion (₹ Cr.) | 147.86 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Oct 19, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Dec 18, 2024 |
Incorporated in March 2011, Western Carriers (India) Limited is a Multi-modal, rail-focused, 4PL asset-light logistics company. The company offers fully customizable, multi-modal logistics solutions encompassing road, rail, water, and air transportation and a tailored range of value-added services.
The company offers sectors such as metals, fast-moving consumer goods (“FMCG”), pharmaceuticals, chemicals, engineering, oil and gas and retail. The company's clientele includes 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”)Oil and Gas Brahmaputra Cracker and Polymer Limited(“BCPL”)Utilities and others*Sheela Foam Limited(“Sleepwell”)and DHL Logistics Private Limited.
The company provides chartering services to overseas destinations, stevedoring services at Indian ports, and coastal movement of cargo within India. They specialize in combining rail with road movements through an asset-light business model. The company manages and handles the supply chain for increased imports, exports, and production levels for a leading metals and resource group company.
As of December 31, 2022, the company served a d over 1,100 customers.
As of December 31, 2022, the company had 1,350 employees in various departments.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 754.01 | 604.14 | 490.33 |
| Total Income | 1,691.41 | 1,637.84 | 1,475.79 |
| Profit After Tax | 80.35 | 71.57 | 61.13 |
| NET Worth | 398.36 | 318.61 | 257.58 |
| Reserves and Surplus | 359.01 | 279.08 | 157.12 |
| Total Borrowing | 266.00 | 210.47 | 150.40 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the Company | 163.50 |
| 2 | Funding of capital expenditure requirements of the Company towards purchase of: (i) commercial vehicles; (ii) 40 feet specialised containers and 20 feet normal shipping containers; and (iii) reach stackers; and | 151.71 |
| 3 | General corporate purposes | 47.73 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 22.41% |
| ROCE | 29.23% |
| Debt/Equity | 0.67 |
| RoNW | 20.17% |
| PAT Margin | 4.77% |
| Price to Book Value | 3.40 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.21 | 7.88 |
| P/E (x) | 16.85 | 21.83 |
| Promoter Holding | 99.99% | 71.89% |
| Market Cap | ₹1,753.63 Cr. |
The Western Carriers (India) IPO is subscribed 31.69 times on September 19, 2024 6:16:07 PM (Day 5). The public issue subscribed 26.92 times in the retail category, 28.81 times in the QIB category, and 46.68 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 28.81 | 57,31,163 | 16,50,92,679 |
| NII | 46.68 | 42,98,372 | 20,06,27,307 |
| bNII (bids above ₹10L) | 41.65 | 28,65,581 | 11,93,45,817 |
| sNII (bids below ₹10L) | 56.73 | 14,32,791 | 8,12,81,490 |
| Retail | 26.92 | 1,00,29,535 | 26,99,92,668 |
| Total | 31.69 | 2,00,59,070 | 63,57,12,654 |
Total Application : 28,87,712
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs and commissions (including underwriting commission, brokerage and selling commission as applicable) | 23.60 |
| 2 | Selling commission/processing fee for SCSBs, Sponsor Banks and fee payable to the Sponsor Banks for Bids made by RIBs(2)(3) | |
| 3 | Brokerage and selling commission and bidding/uploading charges for members of the Syndicate (including their sub-Syndicate Members), Registered Brokers, RTAs and CDPs(4)(5)(6) | 1.86 |
| 4 | Fees payable to the Registrar to the Offer | 0.44 |
| 5 | Other Expenses: (i) Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 4.66 |
| 6 | (ii) Fees payable to the Depositories | 0.06 |
| 7 | (iii) Printing and stationery expenses | 1.27 |
| 8 | (iv) Advertising and marketing expenses | 3.02 |
| 9 | (v) Fees payable to Monitoring Agency | 0.24 |
| 10 | (vi) Fees payable to legal counsels | 5.90 |
| 11 | (vii) Fees payable to the auditors and independent chartered accountant | 0.89 |
| 12 | (viii) Fees payable to the industry service provider | 0.47 |
| 13 | (ix) Miscellaneous | 3.24 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹172.00 | ₹172.00 |
| Open | ₹170.00 | ₹171.00 |
| Low | ₹158.50 | ₹158.51 |
| High | ₹177.00 | ₹177.00 |
| Last Trade | ₹159.45 | ₹159.44 |
Lead Manager Reports
Western Carriers IPO is a main-board IPO of 2,86,55,813 equity shares of the face value of ₹5 aggregating up to ₹493 Crores. The issue is priced at ₹172 per share. The minimum order quantity is 87.
The IPO opens on Fri, Sep 13, 2024, and closes on Thu, Sep 19, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Western Carriers IPO using UPI as a payment gateway. Zerodha customers can apply in Western Carriers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Western Carriers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Western Carriers IPO opens on Fri, Sep 13, 2024 and closes on Thu, Sep 19, 2024.
Western Carriers IPO lot size is 87, and the minimum amount required for application is ₹14,964.
You can apply in Western Carriers IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Western Carriers IPO will be done on Friday, September 20, 2024, and the allotted shares will be credited to your demat account by Mon, Sep 23, 2024. Check the Western Carriers IPO allotment status.
The Western Carriers IPO listing date is on Tue, Sep 24, 2024.
