Western Carriers IPO subscribed 3.24 times so far

16 Sep 2024 , 01:58 PM

Western Carriers (India) Ltd’s initial public offering, which began on Friday, is entering its second day of bidding on Monday. The price band for the Rs 492.88 crore IPO has been set at Rs 163 to Rs 172 per share for the public issue.

On Monday, until 1:53 p.m., the IPO got a 3.24 times subscription, with bids for 6,80,43,309 shares outnumbering the 2,08,68,467 shares offered.

Non-institutional investors portion of the IPO received 2.24 times subscriptions whereas retail individual investors (RIIs) portion was subscribed 5.24 times. The QIB category obtained a 1% subscription.

Western Carriers (India) is India’s largest private, multi-modal, rail-focused, 4PL asset-light logistics firm based on container volumes handled by private operators in FY2023.

The IPO will be open for public subscriptions from September 13 to September 18. The share allotment for the Western Carriers India IPO is expected to be finalised on September 19, with the company’s shares listed on both the BSE and the NSE on September 23.

Western Carriers (India) raised Rs 148 crore from anchor investors on Thursday, one day before its inaugural share offer for public subscription.

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