The preliminary public providing of Western Carriers (India) Ltd. has been subscribed 0.21 occasions after it opened for bidding on Friday. The corporate is seeking to mop up Rs 492.9 crore. The IPO consists of a contemporary situation of Rs 400 crore and a proposal on the market of shares value Rs 92.9 crore.
The worth band has been set at Rs 163–172 per share for the difficulty, which can shut on Sept. 18. The itemizing is anticipated to happen on Sept. 23. The market worth of the corporate on the higher finish of the worth band is Rs 1,754 crore.
WCIL is a multi-modal, rail-focused, 4PL asset-light logistics firm. The corporate presents totally customisable, multi-modal logistics options encompassing highway, rail, water, and air transportation and a tailor-made vary of value-added providers.
It raised Rs 147.9 crore from anchor buyers on Thursday, a day forward of its preliminary public providing. The corporate allotted roughly 86 lakh shares at Rs 172 apiece to fifteen anchor buyers.
Difficulty Particulars
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Difficulty opens: Sept. 13.
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Difficulty closes: Sept. 18.
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Difficulty worth: Rs 163–172 per share.
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Contemporary situation: Rs 400 crore.
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Provide on the market: Rs 92.9 crore.
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Complete situation dimension: Rs 492.9 crore.
Enterprise Overview
WCIL, which commenced operations in 2011, is a multi-modal, rail-focused, 4PL asset-light logistics firm. The corporate presents totally customisable, multi-modal logistics options encompassing highway, rail, water, and air transportation and a tailor-made vary of value-added providers.
The corporate has long-standing relationships with prospects throughout different sectors equivalent to metals, fast-moving client items, prescription drugs, chemical compounds, engineering, oil and fuel, and retail.
The corporate’s home and export-import market share, based mostly upon its container volumes dealt with, stood at 6% and a pair of%, respectively, in fiscal 2023.
The corporate gives chartering providers to abroad locations, stevedoring providers at Indian ports, and coastal motion of cargo inside India. It specialises in combining rail with highway actions by means of an asset-light enterprise mannequin.
Western Carriers IPO Subscription Standing
The IPO has been subscribed 0.21 occasions as of 11:03 a.m. on Friday.
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Institutional buyers: Nil.
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Non-institutional buyers: 0.05 occasions or 5%.
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Retail buyers: 0.40 occasions or 40%.
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