Western Carriers (India) IPO allotment: Here's how to check

20 Sep 2024 , 01:31 PM

The initial public offer of Western Carriers (India) closed on September 19 and the company will likely to allot shares today. The investors who have applied to check the IPO allotment status on BSE website and on the website of registrar, Link Intime India. Investors can check the allotment status by providing PAN details and application number.

On the last day of the offer, the issue has been subscribed 30.57 times. The retail portion of the IPO has been subscribed 25.95 times, NII portion received 44.71 times subscription while the QIB portion was booked 27.99 times.

The ₹493 crore IPO of Western Carriers comprised fresh issue of equity shares worth ₹400 crore and an offer for sale of ₹93 crore. The company will use the net proceeds from the IPO towards capital expenditure on the purchase of commercial vehicles, shipping containers, and reach stackers as well as on other general corporate purposes.

As of March 2024, Western Carriers, India’s leading private multimodal, rail-focused, asset-light logistics company, caters to 1,647 clients across various sectors, including metals and mining, FMCG, pharmaceuticals, building materials, chemicals, oil and gas, and utilities.

Notable clients include Tata Steel, Hindalco Industries, Vedanta, BALCO, HUL, Coca-Cola India, Tata Consumer Products, Wagh Bakri, Cipla, Haldia Petrochemicals, and Gujarat Heavy Chemicals, among others.