Western Carriers (India) IPO Subscribed 0.82x on Day 1

Western Carriers (India) IPO opens for bidding on September 13, 2024 and closes on September 18, 2024. Western Carriers (India) IPO is a book-built issue of ₹492.88 crores. The issue is a combination of a fresh issue of 2.33 crore shares aggregating to ₹400.00 crores and an offer for sale of 0.54 crore shares aggregating to ₹92.88 crores.

Western Carriers (India) IPO price band has been set at ₹163 to ₹172 per share. A retail investor is required to make a minimum investment of ₹14,964 for one lot comprising 87 Shares.

Day Wise Subscription

On the first day of bidding, Western Carriers (India) IPO subscribed 0.82 times. The public issue subscribed 1.47 times in the retail category, 0.00 times in QIB, and 0.40 times in the NII category.

Grey Market Premium

Western Carriers (India) IPO last GMP is ₹32. With the price band of ₹172.00, Western Carriers (India) IPO’s estimated listing price is ₹204 (cap price + today’s GMP). The expected percentage gain/loss per share is 18.60%.

About Western Carriers (India) Limited

Western Carriers (India) Limited is a multi-modal, rail-focused, asset-light 4PL logistics company founded in March 2011. The company provides a customised range of value-added services and fully customisable, multi-modal logistics solutions that include air, sea, land, and road transportation.

The company provides services in the following industries: engineering, chemicals, fast-moving consumer goods (FMCG), metals, pharmaceuticals, oil and gas, and retail. It offers coastal cargo movement inside India, stevedoring services at Indian ports, and chartering services to foreign locations. Its area of expertise lies in integrating road and rail movements using an asset-light business model. 

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.