Western Carriers (India) Ltd. was incorporated on March 23, 2011. The company is a private, multi-modal, rail-focused 4PL asset-light logistics provider. It offers customized and end-to-end integrated logistics solutions with value-added services across the supply chain.
| Bidding Dates |
|---|
| 13 Sep 2024 - 19 Sep 2024 |
| Subscription |
|---|
| 30.57x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,181 | 1 | 13 | 87 | 28.7 M | ₹163 - ₹172 | 71.89 % | ₹4670.9 M - ₹4928.8 M | RHP DOC |
Western Carriers (India) Ltd. IPO SUBSCRIPTION STATUS
19 Sep '24Western Carriers (India) Ltd. IPO overall subscription rate was 30.57 times the total available shares
Western Carriers (India) Ltd. IPO retail subscription rate was 25.95 times in the retail segment
Western Carriers (India) Ltd. IPO non-institutional investor subscription rate was 44.71 times in the non-institutional investor category
Western Carriers (India) Ltd. IPO Qualified Institutional Bidder subscription rate was 27.99 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
19 Sep 2024 (Day 5) | 25.95x | 44.71x | 27.99x |
18 Sep 2024 (Day 4) | 18.61x | 20.93x | 0.14x |
17 Sep 2024 (Day 3) | 13.27x | 12.74x | 0.09x |
16 Sep 2024 (Day 2) | 7.32x | 5.35x | 0.03x |
13 Sep 2024 (Day 1) | 1.41x | 0.38x | 0x |
Western Carriers (India) Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 803.5 | 16,857.7 | 7.4 | -351.3 | 9.0% |
| FY23 | 715.7 | 16,330.6 | 18.7 | -396.7 | 7.7% |
| FY22 | 611.3 | 14,708.8 | 51.9 | -103.9 | 7.4% |
Western Carriers (India) Ltd. IPO SUBSCRIPTION STATUS DETAILS
Western Carriers (India) Ltd. had 28.7 M shares on offer
Western Carriers (India) Ltd. IPO offer price was in the range ₹163 - ₹172
Western Carriers (India) Ltd. IPO minimum Investment was ₹14181
Western Carriers (India) Ltd. IPO issue size was ₹ 4670.9 M - ₹ 4928.8 M
Western Carriers (India) Ltd. had a minimum lot size of 87 Shares per application
Western Carriers (India) Ltd. NUMBER OF SHARES ON OFFER
Western Carriers (India) Ltd. IPO IMPORTANT DATES
| Issue Open Date | 13 Sep 2024 |
| Issue close Date | 19 Sep 2024 |
| Allotment Date | 20 Sep 2024 |
| Refund Date | 23 Sep 2024 |
| Demat Account Credit Date | 23 Sep 2024 |
| Listing Date | 24 Sep 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Western Carriers (India) Ltd. Allotment Status | Exchange |
Western Carriers (India) Ltd. IPO subscription opened on 13 Sep 2024, and closed on 19 Sep 2024
IPO allotment for Western Carriers (India) Ltd. was finalized on Friday, 20 Sep 2024
IPO listing for Western Carriers (India) Ltd. was on NSE and BSE on Tuesday, 24 Sep 2024
Western Carriers (India) Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 172.0 |
| Listing Open Price | 171.0 |
| Listing Close Price | 159.4 |
| Listing Gain% | -0.6% |
| Current Gain% | -48.6% |
Western Carriers (India) Ltd. Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Western Carriers (India) Ltd. | 88.5 | 901.9 | 23.2 | -0.6 | 0.5 | 4.5 | 3.2 | 1843.8 | 6 | 38.8 | -40.4 | 3.8 | -40.4 |
| Container Corporation of India Ltd. | 505.2 | 38476.9 | 31 | -7.3 | 4.2 | 9.6 | 8.2 | 9443.2 | 1.2 | 1241.8 | -3.6 | 16.3 | -4.2 |
| Delhivery Ltd. | 473.3 | 35452.8 | 379 | -7.2 | 3.2 | 1.6 | 1.2 | 10867 | 16 | 152.7 | -5.8 | 1.2 | -52.9 |
| Shadowfax Technologies Ltd. | 241.2 | 14120.3 | 83.5 | 3 | 6.4 | 3.9 | 4238.6 | 68.6 | 111.7 | 1638.4 | 2.9 | ||
| Blue Dart Express Ltd. | 5089.5 | 12076.3 | 42.1 | 2.7 | 1.9 | 13.9 | 6 | 6182.8 | 7.3 | 247.4 | -2 | 121 | 15.8 |
| VRL Logistics Ltd. | 281.4 | 4921.9 | 18.4 | 0.8 | 1.5 | 20.7 | 9.1 | 3244.8 | 1.8 | 236.8 | 29.5 | 15.3 | 21.8 |
Western Carriers (India) Ltd. INFORMATION ON IPO ISSUE
About Western Carriers (India) Ltd.
Western Carriers (India) Ltd. was incorporated on March 23, 2011. The company is a private, multi-modal, rail-focused 4PL asset-light logistics provider. It offers customized and end-to-end integrated logistics solutions with value-added services across the supply chain.
Object of the Issue
- Prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the company
- Funding of capital expenditure requirements of the company towards the purchase of (i) commercial vehicles; (ii) 40 feet specialised containers and 20 feet normal shipping containers; and (iii) reach stackers
- General corporate purposes
Western Carriers (India) Ltd. - PROMOTERS
| Name |
|---|
| Rajendra Sethia |
| Kanishka Sethia |
Western Carriers (India) Ltd. Book Running Lead Manager
JM Financial Limited
westerncarriers.ipo@jmfl.com
Kotak Mahindra Capital Company Limited
westerncarriers.ipo@kotak.com
Western Carriers (India) Ltd. Registrar to the Offer
Link Intime India Private Limited
westerncarriers.ipo@linkintime.co.in
Western Carriers (India) Ltd. Strengths
Diverse customer base
As of FY24, the company has served over 1,647 diverse customers. Its integrated and customized services help maintain long-standing relationships with industry leaders.
Multi-modal logistics solutions
The company's multi-modal logistics solutions which include road, rail, ocean/river/coastal, and air transport, reduce transit time, minimize risks of loss and damage, cut down on documentation, and help lower costs.
Cutomised solutions
The company is experienced in delivering customized, end-to-end services and executing complex and bespoke projects
Western Carriers (India) Ltd. Risks
Few customers
The company depends on certain key customers for revenues. Particularly, it depends significantly on customers in the metals and FMCG industries and is highly dependent on the performance of these industries
Dependent on third-party services
The company relies on network partners, third-party service providers, and vendors/suppliers for certain operations. Unsatisfactory service or failure to maintain these relationships could disrupt its operations.
IPO FAQs
This IPO consists of an offer for sale of up to Rs 92.9 crore, of 5,400,000 shares. It also consists of a fresh issue of Rs 400.0 crore.
The promoters of the company are Rajendra Sethia and Kanishka Sethia.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 163.0 - 172.0.
The IPO application opens on Sep 13, 2024 and closes on Sep 19, 2024.
The minimum lot size for the IPO is 87. The maximum lot size for the IPO is 1131.
For all category investors, the minimum application amount for this IPO is Rs. 14,181.0, the maximum value for this IPO is Rs 194,532.0.
This IPO will be allotted on Sep 20, 2024.
The refund will be credited to your account on Sep 23, 2024.
The allotted shares will be credited to your demat on Sep 23, 2024.
Western Carriers (India) Ltd.’s shares listed on the stock exchanges on Sep 24, 2024.