Western Carriers India IPO: Latest Insights on Grey Market Premium and Subscription Status as of September 18, 2024

the initial public offering (IPO) of Western Carriers (India) Ltd. has been subscribed over 5.63 times, with strong interest from retail and non-institutional investors. The company, which aims to raise ₹492.88 crores through this offering, has also seen a positive response in the grey market, with the Grey Market Premium (GMP) remaining stable at around ₹56-60 per share.

Key Highlights

• Western Carriers IPO Subscription Status: The IPO has been subscribed over 5.63 times as of September 18, 2024, the final day of bidding.
• Retail Investors: The retail portion has been subscribed 8.38 times.
• Non-Institutional Investors (NIIs): This category has seen a subscription of 6.59 times.
• Qualified Institutional Buyers (QIBs): The QIB portion has been subscribed merely 0.03 times.

Western Carriers India IPO Grey Market Premium (GMP) Update

The Grey Market Premium (GMP) for Western Carriers IPO has remained stable at around ₹56-60 per share, implying a potential listing gain of over 33-35% from the upper price band of ₹172. This positive sentiment in the grey market suggests that investors expect the shares to perform well upon listing.

Western Carriers India IPO Financials and Business Overview

Western Carriers (India) Ltd. is a leading player in the logistics sector, offering multimodal transportation solutions. For the fiscal year ended March 31, 2024, the company reported a net profit of ₹80.35 crores with revenues of ₹1,691.41 crores, showcasing steady growth.

Western Carriers India IPO Competitive Positioning

Western Carriers is the largest private, multi-modal, rail-focused, 4PL asset-light logistics company in India in terms of container volumes handled by private players. The company’s asset-light business model and extensive network of over 50 branch offices across 23 states allow it to offer comprehensive logistics solutions to a diverse client base.

Western Carriers India IPO Analysts’ Recommendations

Financial analysts have mostly given positive recommendations for the Western Carriers IPO, citing the company’s strong market positioning, asset-light model, and attractive pricing.

• Arihant Capital has given a “subscribe” rating for listing gains, stating that the issue is priced at a P/E of 21.82 times based on FY24 earnings.
• SMIFS recommends subscribing to the issue as a good long-term investment, noting Western Carriers’ consistent financial performance and return ratios.

Key Dates

• IPO Opening Date: September 13, 2024
• IPO Closing Date: September 18, 2024
• Allotment Date: Expected on September 19, 2024
• Listing Date: Anticipated on September 23, 2024

Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.