Western Carriers (India) Limited IPO Overview

is a book-built issue valued at ₹492.88 crores, which includes a fresh issue of ₹400 crores and an offer for sale of ₹92.88 crores. The IPO opens for subscription from September 13 to September 18, 2024, with shares expected to list on BSE and NSE by September 23, 2024. The price band is set between ₹163 to ₹172 per share.

Retail investors can apply for a minimum lot size of 87 shares, requiring an investment of ₹14,964. JM Financial and Kotak Mahindra Capital are the lead managers for the issue, while Link Intime India is the registrar. For more information, please refer to the Western Carriers (India) IPO RHP.

Western Carriers (India) Limited IPO Important dates

Western Carriers (India) IPO opens on September 13, 2024, and closes on September 18, 2024.

IPO Open Date Friday, September 13, 2024
IPO Close Date Wednesday, September 18, 2024
Basis of Allotment Thursday, September 19, 2024
Initiation of Refunds Friday, September 20, 2024
The credit of Shares to Demat Friday, September 20, 2024
Listing Date Monday, September 23, 2024
Cut-off time for UPI mandate confirmation 5 PM on September 18, 2024

Western Carriers (India) Limited Financial Performance

Period Ended 31 Mar 2024 31 Mar 2023 31 Mar 2022
Assets 754.01 crore 604.14 crore 490.33 crore
Revenue 1,691.41 crore 1,637.84 crore 1,475.79 crore
Profit After Tax 80.35 crore 71.57 crore 61.13 crore
Net Worth 398.36 crore 318.61 crore 257.58 crore
Reserves and Surplus 359.01 crore 279.08 crore 157.12 crore
Total Borrowing 266 crore 210.47 crore 150.4 crore

Western Carriers (India) Limited IPO Key Performance Indicator

KPI as of March 31, 2024.

KPI Values
ROE 22.41%
ROCE 29.23%
Debt/Equity 0.67
RoNW 20.17%

Western Carriers (India) Limited IPO Objectives

The net proceeds of the Fresh Issue, i.e., gross proceeds of the Fresh Issue less the Offer expenses apportioned to the Company (“Net Proceeds”) are proposed to be utilized in the following manner:

  • Prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the Company;
  • Funding of capital expenditure requirements of our Company towards the purchase of:
    • commercial vehicles;
    • 40 feet specialized containers and 20 feet normal shipping containers; and
    • reach stackers; and
  • General corporate purposes

Western Carriers (India) Limited IPO Lot Size

Investors can bid for a minimum of 87 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 87 ₹14,964
Retail (Max) 13 1131 ₹194,532
S-HNI (Min) 14 1,218 ₹209,496
S-HNI (Max) 66 5,742 ₹987,624
B-HNI (Min) 67 5,829 ₹1,002,588

Western Carriers (India) Limited IPO Details

IPO Date September 13, 2024 to September 18, 2024
Listing Date [September 23, 2024]
Face Value ₹5 per share
Price Band ₹163 to ₹172 per share
Lot Size 87 Shares
Total Issue Size 28,655,813 shares
(aggregating up to ₹492.88 Cr)
Fresh Issue 23,255,813 shares
(aggregating up to ₹400.00 Cr)
Offer for Sale 5,400,000 shares of ₹5
(aggregating up to ₹92.88 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Shareholding pre-issue 78,699,400
Shareholding post issue 101,955,213

Western Carriers (India) Limited Company Overview and Services

Established in March 2011, is a leading multi-modal logistics company specializing in rail-focused, asset-light solutions. The company delivers customizable logistics services that integrate road, rail, water, and air transportation, offering a broad range of value-added services tailored to various industries.

Western Carriers serve diverse sectors including metals, FMCG, pharmaceuticals, chemicals, engineering, oil and gas, and retail. Its notable clients include Tata Steel, Hindalco, Jindal Stainless, JSW, BALCO, Vedanta, Hindustan Unilever, Coca-Cola India, Tata Consumer, Wagh Bakri, CG Foods, Cipla, MCPI, Haldia Petrochemicals, GHCL, BCPL, Sheela Foam, and DHL Logistics.

The company excels in chartering services to international destinations, stevedoring at Indian ports, and coastal cargo movements within India. Known for its asset-light model, Western Carriers combines rail and road transport to enhance supply chain efficiency. As of December 31, 2022, it managed logistics for over 1,100 customers and employed 1,350 professionals across various departments.

Western Carriers (India) Limited IPO SWOT Analysis

Strengths:

  • Established Market Presence: Western Carriers (India) Limited has a long-standing presence in the logistics industry, which has helped it build a robust brand reputation and a loyal customer base.
  • Diverse Service Portfolio: The company offers a wide range of logistics and transportation solutions, including freight forwarding, warehousing, and supply chain management, catering to diverse industry sectors.
  • Strong Network: It has an extensive operational network across major Indian cities, which ensures efficient service delivery and strong geographic reach.
  • Experienced Management Team: The company is led by a seasoned management team with significant expertise in logistics and supply chain management, which enhances strategic decision-making and execution capabilities.

Weaknesses:

  • High Operational Costs: The logistics industry is capital-intensive, and Western Carriers may face high operational costs related to transportation, fuel, and infrastructure maintenance, which can impact profitability.
  • Dependence on Key Clients: A substantial portion of the company’s revenue may come from a limited number of key clients, making it vulnerable to any changes in their business requirements or financial health.
  • Exposure to Regulatory Changes: The logistics sector is subject to various government regulations, and changes in policies or compliance requirements could affect operations and costs.

Opportunities:

  • Growing Demand for Logistics Solutions: The increasing need for efficient logistics and supply chain solutions in India presents growth opportunities for the company, particularly in the e-commerce and retail sectors.
  • Expansion into New Markets: Western Carriers can explore expansion into new regions, both domestically and internationally, to tap into untapped markets and diversify their customer base.
  • Technology Integration: Leveraging advanced technologies like AI, IoT, and data analytics can enhance operational efficiency, reduce costs, and improve customer service, giving the company a competitive edge.

Threats:

  • Intense Competition: The logistics industry in India is highly competitive, with numerous established and emerging players, which could lead to price wars and margin pressure.
  • Economic Slowdown: Any downturn in the Indian economy could reduce demand for logistics services, affecting the company’s revenue growth.
  • Fluctuations in Fuel Prices: The company is exposed to fluctuations in fuel prices, which can significantly impact operational costs and overall profitability.

This SWOT analysis provides a comprehensive overview of the strengths, weaknesses, opportunities, and threats for Western Carriers (India) Limited as it prepares for its IPO.

Western Carriers (India) Limited IPO GMP Details

Western Carriers (India) IPO last GMP is ₹0, last updated Sep 10th, 2024. With a price band of 172.00, Western Carriers (India) IPO’s estimated listing price is ₹172 (cap price + today’s GMP). The expected percentage gain/loss per share is 0.00%.

Stay with us to know the daily price trend of Western Carriers (India) IPO GMP with an expected listing price.

GMP Date IPO Price GMP Sub2 Sauda Rate Estimated Listing Price Last Updated
10-09-2024 172.00 ₹0  — ₹172 (0%) 10-Sep-2024
09-09-2024 ₹0  — ₹ (0%) 9-Sep-2024
08-09-2024 ₹0  — ₹ (0%) 8-Sep-2024
07-09-2024 ₹0  — ₹ (0%) 7-Sep-2024
06-09-2024 ₹0  — ₹ (0%) 6-Sep-2024
05-09-2024 ₹0  — ₹ (0%) 5-Sep-2024
04-09-2024 ₹0  — ₹ (0%) 4-Sep-2024

Western Carriers (India) Limited IPO subscription status 

Note that the bidding starts at 10 AM and ends at 5 PM on the days when the public issue is open.

Western Carriers (India) Limited IPO Allotment status

The allotment status of Western Carriers (India) IPO is expected to be available on September 19, 2024.

Western Carriers (India) IPO allotment status is not available at this time. Western Carriers (India) IPO – The allotment status will be available once the basis of allotment is finalized. Please revisit us to check the latest updates for Western Carriers (India) Limited IPO allotment status.

To check Western Carriers (India) IPO allotment status, follow the steps below:

  • Click on the allotment status check button below.
  • Select Company Name.
  • Enter your PAN Number, Application Number or DP Client ID (Anyone).
  • Click on Search.

When you secure the allotment, you will receive the credit for equivalent shares in your Demat account.

If you have any concerns or queries about the allotment status, contact Link Intime India Private Ltd either by phone or email. Investors can call +91-22-4918 6270 or send an email with all relevant details to westerncarriers.ipo@linkintime.co.in.

 Western Carriers (India) Limited Contact Details

Western Carriers (India) Limited
2/6 Sarat Bose Road
2nd Floor,
Kolkata-700020
Phone: +91 33 2485 8519
Email: investors@westcong.com
Website: https://western-carriers.com/

 Want to Raise money for your company through SME IPO? Read More

Disclaimer: Investing in Initial Public Offerings (IPOs) involves substantial risk, and financial returns are not guaranteed. The information provided should not be construed as financial or investment advice. Prospective investors are advised to consider their financial situation, investment objectives, and risk tolerance before participating in an IPO. It is recommended to consult with a qualified financial advisor or professional before making any investment decisions. Past performance is not indicative of future results. Investments in IPOs may be subject to market risk, including the potential loss of principal.