Western Carriers IPO Oversubscribed 12.75 Times

18 Sep 2024 , 03:30 PM

Western Carriers (India) Ltd.’s initial public offering has been subscribed for 12.75 times as of Wednesday, the fourth day of subscription. The offering was subscribed 9.4 times on Tuesday, 4.84 times on Monday, and 0.85 times on Friday, the opening day of bidding.

The business expects to collect Rs 492.9 crore. The IPO consists of a fresh offering of Rs 400 crore and an offer to sell shares for Rs 92.9 crore.

The issue’s price band has been set at Rs 163-172 per share, with a closing date of September 18. The company’s market worth at the upper end of the pricing range is Rs 1,754 crore. The listing is planned to occur on September 23.

It received Rs 147.9 crore from anchor investors the day before its IPO. The company distributed around 86 lakh shares for Rs 172 each to 15 anchor investors.

WCIL is a multimodal, rail-focused, 4PL asset-light logistics provider. It provides fully configurable, multimodal logistics solutions that include road, rail, water, and air transportation, as well as a bespoke variety of value-added services.

The company has long-term connections with customers in a variety of industries, including metals, fast-moving consumer products, pharmaceuticals, chemicals, engineering, oil & gas, and retail.

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