Western Carriers IPO allotment scheduled from Friday, September 13 to Wednesday, September 18, 2024.
Western Carriers IPO is book built issue of Rs. 514.96 crores. The issue is combination of fresh issue of 2.45 lakh shares and an offer for sale of 54 lakhs equity shares. Price range of the IPO is set to Rs. 155 to Rs. 160 per equity shares with a face value of Rs. 10 each. The minimum order quantity of the issue is 800 equity shares, aggregating to Rs. 1,28,000.
The allotment of the IPO is expected to finalized on Thursday, September 19, 2024. The IPO will list on NSE SME with tempting date fixed on Monday, September 23, 2024.
JM Financial Limited and Kotak Mahindra Capital Company Limited is book running lead manager. HDFC Bank Limited and Kotak Mahindra Bank Limited is sponsor bank of the IPO. Link Intime India Private Limited is registrar to the issue.
Objects of the issue:-
The net proceeds of the Fresh Issue are proposed to be utilised in the following manner:
- Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the Company;
- Funding of capital expenditure requirements of our Company towards purchase of: (i) commercial vehicles; (ii) 40 feet specialised containers and 20 feet normal shipping containers; and (iii) reach stackers; and
- General Corporate Purposes.
Financials:-
Western Carriers IPO has increased by only 3.27% and profit after tax (PAT) rose up by 12.27% in Financial Year 2024, as compared to FY2023.
| Particulars | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Revenue | 16,914.10 | 16,378.40 | 14,757.89 |
| PAT | 803.47 | 715.65 | 611.29 |
| PAT Margin | 4.77% | 4.38% | 4.16% |
| Total Borrowings | 2,659.98 | 2,104.71 | 1,503.96 |
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