Western Carriers (India) Ltd.’s ₹492.88 crore IPO is set to close on Thursday, September 19. The price band for the IPO is between ₹163 to ₹172 per share.
As of 12:35 pm on the final day of bidding, the IPO received 18.09 times subscription, the non-institutional investor category was subscribed 31.90 times, and the retail investor segment saw 22.21 times subscription. The Qualified Institutional Buyers (QIB) portion received 26% subscription.
The IPO was initially opened for public subscription from September 13 to 18, but it was extended to September 19. Share allotment is expected to be finalized on September 19, and listing on the BSE and NSE is set for September 23.
Western Carriers is India’s largest private, multi-modal, rail-focused 4PL logistics company in terms of container volumes for FY2023.
A day before the IPO, ₹148 crore was raised from anchor investors, including Aditya Birla Sun Life Insurance, Kotak Mahindra Life Insurance, and others. The company allocated 85.97 lakh equity shares at ₹172 each to 15 funds, as per the BSE circular.
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