Western Carriers IPO Description – Western Carriers (India) is a private multi-modal rail-based 4PL asset-light logistics company in India. The company operates on a scalable, asset-light business model that allows us to deliver value-added, end-to-end 3PL and 4PL solutions. The company seeks to resolve such complexities by engineering tailor-made, one-stop/single-window, end-to-end, and integrated logistics solutions, that encompass a range of supply chain-related value-added services for its customers.
Business has since adapted to provide end-to-end, bespoke, multi-modal logistics solutions through the supply chain combining road, rail, water, and air logistics with a customized suite of value-added services. As of 31 March 2024, the company served a diverse base of over 1,647 customers and employed 1,427 permanent staff members.
As of 31 March 2024, the company maintained four zonal offices, over 50 branch offices, and 16 warehouses, all on leased premises. On the same date, Western Carriers (India) boasted a fleet of over 400 GPS-enabled heavy commercial vehicles, more than 100 pieces of heavy equipment, and over 500 shipping containers. They offer customers jumbo rakes, capable of transporting 1,500-2,000 metric tons of cargo in a single trip, as well as mini rakes with 20 wagons.
Promoters of Western Carriers (India) – Rajendra Sethia and Kanishka Sethia
Table of Contents
Western Carriers (India) IPO Details
| Western Carriers IPO Dates | 13 – 19 September 2024 |
| Western Carriers Issue Price | INR 163 – 172 per share |
| Fresh issue | INR 400 crore |
| Offer For Sale | 54,00,000 shares (INR 92.88 crore) |
| Total IPO size | INR 492.88 crore |
| Minimum bid (lot size) | 87 shares (INR 14,964) |
| Face Value | INR 5 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Western Carriers Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 1,470.88 | 1,633.06 | 1,685.77 |
| Expenses | 1,392.43 | 1,541.77 | 1,583.13 |
| Net income | 61.13 | 71.57 | 80.35 |
| Margin (%) | 4.16 | 4.38 | 4.77 |
Western Carriers (India) Offer News
- Western Carriers RHP
- Western Carriers DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
Western Carriers (India) Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2024 (Post Issue) | |
| EPS | 7.77 | 9.09 | 10.21 | 7.88 |
| PE Ratio | – | – | 15.96 – 16.85 | 20.69 – 21.83 |
| FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | 23.73 | 22.46 | 20.17 |
| NAV | 32.73 | 40.48 | 50.62 |
| ROCE (%) | 33.40 | 29.71 | 29.23 |
| EBITDA (%) | 7.40 | 7.74 | 9.01 |
| Debt/Equity | 0.58 | 0.66 | 0.67 |
Western Carriers IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 23 September 2024 | 20 | – | 1,000 |
| 21 September 2024 | 30 | – | 1,000 |
| 20 September 2024 | 30 | – | 1,000 |
| 19 September 2024 | 40 | – | 2,000 |
| 18 September 2024 | 62 | – | 4,000 |
| 17 September 2024 | 60 | – | 4,000 |
| 16 September 2024 | 54 | – | 3,700 |
| 14 September 2024 | 50 | – | 3,500 |
Western Carriers (India) IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the company – INR 163.50 crore
- Funding of capital expenditure requirements of the company towards the purchase of – INR 151.71 crore
- General corporate purposes
Western Carriers IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 58,98,528 | 44,90,982 | 1,04,78,957 | 2,08,68,467 |
| 19 Sep 2024 | 27.99 | 44.71 | 25.95 | 30.57 |
| 18 Sep 2024 | 0.14 | 20.93 | 18.61 | 13.89 |
| 17 Sep 2024 | 0.09 | 12.74 | 13.27 | 9.43 |
| 16 Sep 2024 | 0.03 | 5.36 | 7.33 | 4.84 |
| 13 Sep 2024 | 0.00 | 0.38 | 1.41 | 0.79 |
Shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.
Western Carriers – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Western Carriers | 21.83 | 10.21 | 20.17 | 50.62 | 1,685.77 |
| Container Corporation of India | 47.73 | 20.22 | 10.42 | 193.87 | 8,653.41 |
| Mahindra Logistics | (62.93) | (7.60) | (10.33) | 69.99 | 5,505.97 |
| TCI Express | 32.48 | 34.27 | 18.71 | 183.57 | 1,253.82 |
Western Carriers IPO Allotment Status
Western Carriers IPO allotment status is now available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Western Carriers IPO Dates & Listing Performance
| IPO Opening Date | 13 September 2024 |
| IPO Closing Date | 19 September 2024 |
| Finalization of Basis of Allotment | 20 September 2024 |
| Initiation of refunds | 20 September 2024 |
| Transfer of shares to demat accounts | 23 September 2024 |
| Western Carriers IPO Listing Date | 24 September 2024 |
| Opening Price on NSE | INR 171 per share (down 0.58%) |
| Closing Price on NSE | INR 159.44 per share (down 7.30%) |
Western Carriers IPO Reviews – Subscribe or Avoid?
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Western Carriers Offer Lead Manager
JM FINANCIAL LIMITED
7th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi Mumbai – 400 025
Phone:Â +91 22 6630 3030
Email:Â [email protected]
Website: jmfl.com
Western Carriers Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone:Â +91 810 811 4949
Email: [email protected]
Website:Â www.linkintime.co.in
Western Carriers Contact Details
WESTERN CARRIERS (INDIA) LIMITED
2/6 Sarat Bose Road, 2nd Floor, Kolkata
700 020, West Bengal, India
Phone:Â +91 33 2485 8519
Email: [email protected]
Website: www.western-carriers.com
Western Carriers IPO FAQs
How many shares in Western Carriers IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for a Western Carriers Public Offer?
The best way to apply for Western Carrier’s public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Western Carriers IPO GMP today?
Western Carriers IPO GMP today is INR 20 per share.
What is Western Carrier’s kostak rate today?
Western Carrier’s kostak rate today is INR NA per application.
What is Western Carriers Subject to Sauda rate today?
Western Carriers Subject to Sauda rate today is INR 1,000 per application.
