Western Carriers (India) Ltd shares debut flat on the stock exchanges.
The shares get listed on NSE at ₹171, 0.58% low from the issue price of ₹172 and at 170 on BSE, 1.16% down.
The initial share sale being oversubscribed 30.46 times during its three-day bidding period. Non-institutional investors led the charge, placing bids 44.67 times the reserved quota. The portion for qualified institutional buyers (QIBs) was subscribed 27.99 times, while retail investors subscribed 25.77 times. The allotment status was finalized on Friday, September 20.
The ₹492.88 crore IPO, priced between ₹163 to ₹172 per share, comprised a fresh issue of ₹400 crore and an offer-for-sale (OFS) of up to 54 lakh shares, valued at ₹93 crore. The proceeds from the IPO will be utilized for debt repayment, funding capital expenditure, and other general corporate purposes.
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