The Western Carriers IPO: ₹500 Crore Public Issue Opens On September 13; Know Everything About It
As per the Red Herring Prospectus (RHP), the IPO comprises two components: a new share offering valued at up to Rs 400 crore and an offer for sale (OFS) of 54 lakh shares made by promoter Rajendra Sethia.
(L-R): Mr. Kamal Sultania, Executive Director, JM Financial Ltd, Mr. Kanishka Sethia, Whole-time Director and CEO, Western Carriers (India) Ltd, Mr. Rajendra Sethia, Chairman and MD, Western Carriers (India) Ltd, Mr. Dinesh Kumar Mantri, CFO, Western Carriers (India) Ltd and Mr. Kaushal Shah, Managing Director, Equity Capital Markets, Kotak Mahindra Capital Company Limited at a press conference in connection with the Western Carriers’ forthcoming Initial Public Offering (IPO). | SAMEER
The Western Carriers (India) initial public offering (IPO) will accept subscriptions from September 13 through September 18. A price band of Rs 163–Rs 172 per share has been fixed.
As per the Red Herring Prospectus (RHP), the IPO comprises two components: a new share offering valued at up to Rs 400 crore and an offer for sale (OFS) of 54 lakh shares made by promoter Rajendra Sethia.
Lot and offer size
It is anticipated that the issue will be worth about Rs 500 crore.
A minimum of 87 equity shares, as well as multiples of those, are available for application from investors.
Book-running lead manager
JM Financial and Kotak Mahindra Capital Company are the book-running lead managers for this issue. It is suggested that the equity shares be listed on the BSE and National Stock Exchange (NSE).
Utilisation of IPO proceeding
The proceeds of the new issue will be utilised for general corporate purposes, capital expenditure requirements, and debt repayment.
Company's financials
The company's operational revenue was Rs 1,685 crore as of fiscal 2024, and its net profit was Rs 80 crore.
Customers of company
Cipla, Haldia Petrochemicals, Wagh Bakri, MCPI, BCPL, Gujarat Heavy Chemicals, Hindalco Industries, Tata Steel, Vedanta, BALCO, Coca-Cola India, HUL, and Tata Consumer Products are a few of its major clients.
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About company
As of March 2024, Western Carriers was a top-tier private, multi-modal, asset-light logistics company that catered to 1,647 clients in a variety of industries, including FMCG, metals and mining, pharmaceuticals, chemicals, oil and gas, building materials, and utilities.
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