Western Carriers (India) IPO Subscribed 14.44x on Day 4

On the fourth day of bidding, Western Carriers (India) IPO recorded significant interest from NIIs. 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 ₹400.00 crores and an offer for sale of 0.54 crore shares aggregating ₹92.88 crores.

The net proceeds raised from Western Carriers (India) IPO would be utilised in the following manner:

• Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the Company;
• Funding of capital expenditure requirements 
• General corporate purposes

Day Wise Subscription

On 1st day, Western Carriers (India) IPO subscribed 0.85 times. The public issue subscribed 1.54 times in the retail category, 0.00 times in QIB, and 0.40 times in the NII category. 

On 2nd day, Western Carriers (India) IPO subscribed 5.13 times. The public issue subscribed 7.84 times in the retail category, 0.03 times in QIB, and 5.62 times in the NII category. 

On 3rd day of bidding, Western Carriers (India) IPO subscribed 9.75 times. The public issue subscribed 13.82 times in the retail category, 0.08 times in QIB, and 13.15 times in the NII category. 

On the 4th day, Western Carriers (India) IPO subscribed 14.44 times. The public issue subscribed 19.43 times in the retail category, 0.14 times in QIB, and 21.85 times in the NII category.

Grey Market Premium

Western Carriers (India) IPO last GMP is ₹56. With the price band of ₹172.00, Western Carriers (India) IPO’s estimated listing price is ₹228 (cap price + today’s GMP). The expected percentage gain/loss per share is 32.56%.

About Western Carriers (India) Limited

Incorporated in March 2011, Western Carriers (India) Limited is a Multi-modal, rail-focused, 4PL asset-light logistics company. The company offers fully customisable, multi-modal logistics solutions encompassing road, rail, water, and air transportation and a tailored range of value-added services.

The company provides chartering services to overseas destinations, stevedoring services at Indian ports, and coastal cargo movement within India. It specialises in combining rail and road movements through 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.