Western Carriers (India) Ltd IPO - Check Issue Date, Price, Lot Size & Details with BlinkX.

Western Carriers (India) Ltd IPO

Western Carriers (India) Limited is the largest private, multi-modal, rail focused, 4PL asset-light logistics company in India in terms of container volumes handled by private players in Fiscal 2023. Its domestic and EXIM market share, based upon container volumes handled, was 6% and 2%, respectively, in Fiscal 2023. The Company possesses expertise in facilitating multi-modal transportation across roads, railways, and waterways, catering to both domestic as well as EXIM cargo movements in and out of India. The Company endeavours to address complexities by creating customised, one-stop/single-window, end-to-end and integrated logistics solutions for its customers.

Western Carriers (India) Ltd IPO Details

Total Shares Offered

₹ 2,86,55,814

Offer to Public

54,00,000

Retail Max (Shares)

₹ 1,00,29,535

Pre Issue Promoters Holding

₹ 7,86,94,120

Exchange

BSE

Issue size

₹ 492.88 Cr

IPO Open Date

Sep 13, 2024

Close Date

Sep 19, 2024

Lot Size

Min Investment

₹ 14,181

Issue Type

Book Building

Listing Date

Sep 24, 2024

Western Carriers (India) Ltd IPO Dates

Sep 13, 2024

Opening date

Sep 19, 2024

Closing date

Sep 20, 2024

Basis of Allotment

Sep 23, 2024

Initiation of Refunds

Sep 23, 2024

Credit of Shares

Sep 24, 2024

Listing date

Details

Sector	Type
Sector	Miscellaneous
Sub Sector	NA
Issue Type	Book Building

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*
QIB	0x	14327907
NII	0x	4298372
Retail	0x	10029535
Employee	0x	0
Total	0x	28655814

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

14327907

4298372

10029535

28655814

Western Carriers (India) Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	1,725.72	1,685.77	1,633.06
EBITDA	135.42	150.87	126.59
PAT	65.13	80.33	71.55
Total Assets	894.88	623.91	467.89
Share Capital	50.98	39.35	39.35
Total Borrowings	254.65	337.31	260.59
Operating Activities (Net Cash)	88.92	101.57	86.82
Investing Activities (Net Cash)	-11.73	3.28	-1.60
Financing Activities (Net Cash)	254.65	337.31	260.59
Net Cashflow	190.35	26.87	19.55

About Western Carriers (India) Ltd

Western Carriers (India) Limited was incorporated as `Western Carriers (India) Private Limited' in Kolkata, West Bengal as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated March 23, 2011, issued by the Deputy Registrar of Companies, West Bengal. Subsequently, the Company was converted into a public limited company pursuant to a special resolution passed in the extraordinary general meeting of its Shareholders held on February 11, 2013 and consequently, the name of the Company was changed to its present name, `Western Carriers (India) Limited', and a fresh certificate of incorporation dated February 28, 2013 was issued by the Registrar of Companies, West Bengal at Kolkata (RoC) to the Company. Rajendra Sethia, the Promoter Selling Shareholder, transferred his business carried under the name and style `Western Carriers' to the Company on a going concern basis with effect from July 1, 2013.

Logistics sector is a core enabler for the development of India to reach the government's vision of achieving a U.S.$5 trillion economy by the year 2025. Robust expansion led by an increase in public infrastructure spending through policies such as the NLP, the DFCs, Gati Shakti Master Plan (aims to reduce logistics costs to 7% to 8% of GDP). Demand drivers include surging domestic manufacturing and consumption, rise in MSMEs demand supported by Government initiatives such as `Aatmanirbhar Bharat' and ake in India' and an increasing adoption of integrated fulfilment services and digitised supply chains.

Peer Comparison:

Container Corporation Of India Ltd
Mahindra Logistics Ltd
TCI Express Ltd

Western Carriers (India) Ltd Key Points

Strengths

Experience in delivering customised, end-to-end services and executing complex and customised projects.

Comprehensive and integrated multi-modal, end-to-end logistics solutions.

Strong customer relationships with a diverse customer base.

Strategically positioned to capitalise on a fast-growing logistics market in India.

Scaled, asset-light business model with successful track record of delivering growth and profitability and experience of its Promoters and the Company.

Risk

The company depends on a limited number of key customers for a majority of its revenues, which exposes the company to a high risk of customer concentration. Particularly, the company depends significantly on customers in the metals and FMCG industries and are highly dependent on the performance of these industries. A decrease in the revenues the company derives from them could materially and adversely affect its business, results of operations, cash flows and financial condition.

The company operates in the Indian logistics industry and may be adversely affected by certain factors affecting the growth of this industry. Additionally, its business is dependent on the company ability to utilise the logistics infrastructure in an uninterrupted manner. Any disruption or deficiencies in the logistics infrastructure, including those affecting freight and container traffic could impair its operations and adversely affect the company's business and results of operations. Any damage to its brand image or reputation may adversely affect the company's growth.

There may be delays or defaults in payment by its customers or the tightening of payment periods by thirdparty service providers which could negatively affect its cash flows. As a result, the company experience significant working capital requirements and its inability to meet the company working capital requirements may materially and adversely affect its business, cash flows and financial condition.

Strategy

Grow its relationships with its existing customers.

Acquire new customers and expand into new sectors and new geographies.

Continued focus on improving margins.

Pursue inorganic growth on an opportunistic basis.

Continue to invest in its infrastructure capabilities.

How To Apply for Western Carriers (India) Ltd IPO Online?

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From the list of open IPOs, select the IPO you want to invest.

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Go through the IPO details like lot size, price band, about the company, etc.

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Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Western Carriers (India) Ltd IPO?

Western Carriers (India) Ltd's IPO offers shares for up to 400 It begins on Sep 13, 2024 and ends on Sep 19, 2024.

What is the price of the Western Carriers (India) Ltd IPO?

The price of Western Carriers (India) Ltd IPO ranges between ₹163 to ₹172 per share.

What are the open and close dates for the Western Carriers (India) Ltd IPO?

The Western Carriers (India) Ltd IPO opens on Sep 13, 2024 and closes on Sep 19, 2024.

When will the Western Carriers (India) Ltd IPO be allotted?

The allotment for the Western Carriers (India) Ltd IPO will be finalised on Sep 20, 2024. The shares will be listed on BSE and NSE on Sep 24, 2024.

What is the minimum lot size required for Western Carriers (India) Ltd IPO?

The minimum lot size for Western Carriers (India) Ltd IPO is 87 shares, priced between ₹163 to ₹172 per share.

What is the GMP of Western Carriers (India) Ltd IPO?

The GMP (Grey Market Premium) of Western Carriers (India) Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Western Carriers (India) Ltd IPO?

To check the allotment status of Western Carriers (India) Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Western Carriers (India) Ltd IPO getting listed?

The Western Carriers (India) Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Sep 13, 2024, and closes on Sep 19, 2024. The allotment is finalised on Sep 20, 2024.

How do you apply for the Western Carriers (India) Ltd IPO?

To apply for the Western Carriers (India) Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.