IPO Details
Bidding Dates
13 Sep '24 - 18 Sep '24
Minimum Investment
₹14,964 / 1 Lot (87 Shares)
Price Range
₹163 - ₹172
Maximum Investment
₹1,94,532 / 13 Lot (1131 Shares)
Retail Discount
To be announced
Issue Size
₹492.88 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | Eligible employees |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Sep 13, 2024
Closing Date
Sep 18, 2024
Basis of Allotment
Sep 19, 2024
Initiation of Refunds
Sep 20, 2024
Listing Date
Sep 23, 2024
About Western Carriers (India) IPO
Western Carriers (India) IPO is a book-built issue worth ₹492.88 crore, comprising a fresh issue of 2.33 crore shares, raising ₹400 crore, and an offer for sale of 0.54 crore shares, raising ₹92.88 crore.
The IPO opens for subscription on September 13, 2024, and closes on September 18, 2024. Allotment of shares is expected to be finalised on September 19, 2024, with the listing anticipated on BSE and NSE on September 23, 2024.
The price band for the IPO is set between ₹163 and ₹172 per share. Retail investors can apply for a minimum of 87 shares, amounting to an investment of ₹14,964. For sNII, the minimum application is 14 lots (1,218 shares) at ₹209,496, while bNII requires a minimum investment of ₹10,02,588 for 67 lots (5,829 shares).
JM Financial Limited and Kotak Mahindra Capital Company Limited are the book-running lead managers, and Link Intime India Private Ltd is the registrar for this IPO.
Industry Outlook:
- The Indian logistics sector is projected to grow at a CAGR of 11%, reaching ₹30 trillion by Fiscal 2027. This growth, driven by rising domestic demand and government initiatives like 'Aatmanirbhar Bharat,' might benefit Western Carriers (India) Limited.
- MSMEs contribute around 30% to India's GDP, driving demand for logistics services. Western Carriers (India) Limited can benefit from the rise in manufacturing output.
Western Carriers (India) IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- A portion of the funds will be used to prepay or repay existing borrowings, helping the company reduce debt obligations.
- Funds will be allocated towards purchasing commercial vehicles, specialised containers, and reach stackers, enhancing the company's operational capacity.
- The remaining funds will be utilised for general corporate purposes.
About Western Carriers (India) Limited
Western Carriers (India) Limited is a leading logistics company in India, recognised for its multi-modal, rail-focused, 4PL asset-light business model. Established over 5 decades ago, the company offers fully integrated logistics solutions, covering road, rail, water, and air transport.
It specialises in providing end-to-end supply chain services, including value-added options such as inventory planning, warehouse management, cargo handling, packaging, and customs clearance. The company serves various industries, including metals, fast-moving consumer goods (FMCG), pharmaceuticals, chemicals, engineering, oil and gas, and retail.
Some of its notable clients include industry giants such as Tata Steel, Hindalco, Vedanta, Hindustan Unilever, and Cipla. Western Carriers' scalable solutions are designed to meet specific customer needs, helping clients streamline their logistics processes efficiently. Its long-standing reputation for reliability and customer-centric services has earned it recognition through awards and partnerships with top industry players.
Peer Details
The companies considered by Western Carriers (India) Limited as its peers include:
- Container Corporation of India Limited
- Mahindra Logistics Limited
- TCI Express Limited
How to Check the Allotment Status of the Western Carriers (India) IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Western Carriers (India) IPO
- Registered office: 2/6 Sarat Bose Road 2nd Floor, Kolkata 700 020, West Bengal, India
- Phone: +91 33 2485 8519
- E-mail: investors@westcong.com
Company Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Revenue from Operation (in ₹ million) | 16,857.69 | 16,330.63 | 14,708.75 |
| Profit After Tax (PAT) (in ₹ million) | 803.47 | 715.65 | 611.29 |
| Current Ratio (x) | 1.91 | 1.91 | 1.79 |
| Net Worth (in ₹ million) | 3,983.62 | 3,186.07 | 2,575.82 |
| Total Borrowings (in ₹ million) | 2,659.98 | 2,104.71 | 1,503.96 |
| Debt to Equity Ratio (x) | 0.67 | 0.66 | 0.58 |
| Return on Capital Employed (RoCE) (%) | 29.23 | 29.71 | 33.40 |
| EBITDA (in ₹ million) | 1,518.24 | 1,264.49 | 1,088.87 |
Know before investing
Strengths
6-
Western Carriers provides customised, cost-effective, and time-bound logistics services.
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Expertise in multi-modal logistics offers seamless, end-to-end solutions.
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Asset-light model ensures flexible and scalable logistics operations across sectors.
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Strong customer relationships drive long-term growth and client retention.
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Strategically positioned to capitalise on India's growing logistics market.
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Proven track record of delivering consistent growth and profitability.
Risks
6-
Dependency on a few key customers exposes Western Carriers to revenue risks.
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Losing key management personnel could adversely impact Western Carriers' business growth.
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Relying on third-party providers could disrupt Western Carriers' operations.
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Competitive market pressures may lower Western Carriers' profit margins.
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Short-term customer contract terminations could affect Western Carriers' revenue.
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Global trade fluctuations may negatively impact Western Carriers' operations.
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Western Carriers (India) Limited IPO FAQs
Western Carriers (India)’s IPO is a book-built IPO. It will be open from September 13, 2024, to September 18, 2024.
The Basis of Allotment will happen on Thursday, September 19, 2024.
The IPO subscription window will open on September 13, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 87 shares.
The listing date for Western Carriers (India) is Monday, September 23, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the ‘IPO’ section on the platform.
- Select IPO: Find and select the Western Carriers (India) IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Western Carriers (India) Limited’s financial statements, download the IPO’s RHP document.
