Western Carriers India IPO Day 2: Subscription Status, GMP Update, and Should You Apply?

Western Carriers (India) Limited IPO is in its second day of bidding. Investors are keenly watching the subscription status and the Grey Market Premium (GMP) to make informed decisions. The IPO aims to raise ₹492.88 crores, with a price band set between ₹163 and ₹172 per share. As of now, the subscription numbers indicate a growing interest among retail investors.

Western Carriers India IPO Launch Date

The IPO opened for public subscription on September 13, 2024, and will remain available until September 18, 2024. The shares are set to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 23, 2024.

How to Apply for Western Carriers India IPO

Investors can apply for the IPO through various methods. The most common way is via the ASBA (Application Supported by Blocked Amount) facility available in bank accounts. Alternatively, investors can download IPO forms online, fill them out, and submit them to their banks or brokers. The minimum investment for one lot, comprising 87 shares, is approximately ₹14,964 at the upper price band.

Western Carriers India IPO Price Band

The price band for the Western Carriers IPO is set between ₹163 and ₹172 per share. This pricing reflects the company’s valuation and is expected to attract a wide range of investors, from retail to institutional.

Western Carriers India IPO Lot Size

The minimum lot size for the IPO is 87 shares. Therefore, the total investment for one lot would be between ₹14,201 to ₹15,004, depending on the final price at which shares are allotted.

Western Carriers India IPO Subscription Status

As of September 16, 2024, the IPO has received a total subscription of 1.81 times. This includes a robust response from retail investors, who have subscribed 2.91 times. The non-institutional investor category has seen a subscription of 1.65 times, while the Qualified Institutional Buyers (QIB) segment has received a mere 1% subscription. This strong retail interest indicates positive market sentiment towards the IPO.

Western Carriers India IPO GMP Today

The Grey Market Premium (GMP) for the Western Carriers IPO is currently ₹57. This means that shares are expected to list at around ₹229, indicating a potential listing gain of approximately 33.14% from the upper price band. The GMP reflects positive investor sentiment and suggests that the market expects the shares to perform well upon listing.

Western Carriers India IPO Allotment Date

The share allotment for the Western Carriers IPO is expected to be finalized on September 19, 2024. Investors will be notified of their allotment status shortly after this date.

Western Carriers India IPO Listing Date

The shares of Western Carriers are anticipated to be listed on the BSE and NSE on September 23, 2024. This is a crucial date for investors as it marks the beginning of trading for the newly issued shares.

Western Carriers India IPO DRHP Analysis

The Draft Red Herring Prospectus (DRHP) reveals that the IPO consists of a fresh issue of ₹400 crores and an offer for sale (OFS) of ₹92.88 crores. The proceeds from the fresh issue will be utilized for debt repayment, capital expenditures, and general corporate purposes. This strategic allocation of funds aims to strengthen the company’s financial position and expand its operations.

Western Carriers India IPO Financials

For the fiscal year ending March 31, 2024, Western Carriers reported a net profit of ₹80 crores, with revenues reaching ₹1,685 crores. This reflects a steady growth trajectory, showcasing the company’s robust business model and operational efficiency.

Western Carriers India IPO Promoter Background

Western Carriers is led by Rajendra Sethia, who has extensive experience in the logistics sector. Under his leadership, the company has established itself as a significant player in the multi-modal logistics industry in India.

Western Carriers India IPO Risk Factors

Investors should consider potential risks associated with the IPO. Market volatility, competition in the logistics sector, and regulatory changes could impact the company’s performance. It is essential for investors to evaluate these risks before making investment decisions.

Western Carriers India IPO Industry Outlook

The logistics sector in India is poised for growth, driven by increasing demand for efficient supply chain solutions. As a leading player in the multi-modal logistics space, Western Carriers is well-positioned to capitalize on this trend.

Western Carriers India IPO Peer Comparison

When compared to its peers, Western Carriers stands out due to its asset-light business model and focus on rail logistics. This competitive advantage allows the company to offer cost-effective solutions to its clients.

Western Carriers India IPO Objectives of Issue

The primary objectives of the IPO include raising funds for debt repayment and capital expenditures. This financial strategy aims to enhance the company’s operational capabilities and market presence.

Western Carriers India IPO Lead Managers

JM Financial and Kotak Mahindra Capital Company are the lead managers for the IPO. Their expertise in managing public offerings adds credibility to the issue.

Western Carriers India IPO Registrar

The registrar for the Western Carriers IPO is KFin Technologies Limited. They will handle the allotment process and ensure a smooth transition for investors.

Western Carriers India IPO Company Profile

Founded in 2011 and headquartered in Kolkata, Western Carriers is a multi-modal logistics company specializing in rail-focused solutions. The company serves various sectors, including FMCG, pharmaceuticals, and metals, and has a customer base of over 1,600 clients.

Western Carriers India IPO Business Model

The company operates on a scalable, asset-light model, providing integrated logistics solutions that include transportation, cargo handling, and warehousing. This approach enhances operational efficiency and customer satisfaction.

Western Carriers India IPO Market Share

Western Carriers is recognized as the largest private, multi-modal logistics company in India based on container volumes handled. This significant market share underscores its competitive position in the industry.

Western Carriers India IPO Growth Prospects

With a robust business model and a growing customer base, Western Carriers is well-positioned for future growth. The company aims to expand its service offerings and enhance its operational capabilities.

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.