The IPO of Western Carriers (India) is set as a book-built issue with a total of Rs 492.88 crores. The issue consists of a combination of a fresh issue of 2.33 crore shares, aggregating to Rs 400.00 crores, and an offer for sale of 0.54 crore shares, aggregating to Rs 92.88 crores.
The IPO of Western Carriers (India) is scheduled to open for subscription on September 13, 2024, and close on September 18, 2024. The finalization of the allotment for the Western Carriers (India) IPO is expected to occur on Thursday, September 19, 2024. The listing of the Western Carriers (India) IPO on BSE and NSE is anticipated, with the tentative listing date set for Monday, September 23, 2024.
The price band for the Western Carriers (India) IPO is set between ₹163 and ₹172 per share. A minimum lot size of 87 shares is required for an application. The minimum investment amount required by retail investors is ₹14,964. For sNII investors, the minimum lot size investment is set at 14 lots (1,218 shares), amounting to ₹209,496, while for bNII investors, it is set at 67 lots (5,829 shares), amounting to ₹1,002,588.
Refer to Western Carriers (India) IPO RHP for brief information.
| IPO Date | September 13, 2024 to September 18, 2024 |
| Listing Date | September 23, 2024 |
| Face Value | ₹ 5 / Share |
| Price Band | ₹ 163 to ₹ 172 / Share |
| Lot Size | 87 Shares |
| Total Issue Size | 28,655,813 share (Aggregating up to ₹492.88 Cr) |
| Fresh Issue | 23,255,813 (Aggregating up to ₹400.00 Cr) |
| Offer for Sale | 5,400,000 shares (Aggregating up to ₹92.88 Cr) |
| Employee Discount | |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 78,699,400 |
| Share holding post issue | 101,955,213 |
| Market Maker portion |
Western Carriers India Limited IPO opens on September 13, 2024, and closes on September 18, 2024.
| IPO Open Date | September 13, 2024 |
| IPO Close Date | September 18, 2024 |
| Basis of Allotment | September 19, 2024 |
| Initiation of Refunds | September 20, 2024 |
| Credit of Shares to Demat | September 20, 2024 |
| Listing Date | September 23, 2024 |
| Cut-off time for UPI mandate confirmation | September 18, 2024 |
A minimum of 87 shares can be bid for by investors, with additional shares being bid in multiples thereof. The minimum and maximum investments by retail investors and HNI, in terms of shares and amount, are depicted in the table below.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 87 | Rs.14,964 |
| Retail (Max) | 13 | 1,131 | Rs.194,532 |
| S-HNI (Min) | 14 | 1,218 | Rs.209,496 |
| S-HNI (Max) | 66 | 5,742 | Rs.987,624 |
| B-HNI (Min) | 67 | 5,829 | Rs.1,002,588 |
| HNI (Min) |
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue |
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | Not more than 50.00% of the offer |
|
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | Not less than 35.00% of the Offer |
|
| Employee Shares Offered | |
|
| Total Shares Offered | |
| Bid Date | |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | |
| Anchor lock-in period end date for 50% shares (30 Days) | |
| Anchor lock-in period end date for remaining shares (90 Days) |
Established in 2011, Western Carriers (India) Limited offers completely customizable, multi-model logistics services across a range of industries including rail, road, water, and air transportation. Because of its asset-light, scalable business strategy, WCIL is able to offer unique 3PL and 4PL solutions. In order to meet complexity (both in terms of the size of operations and the logistics requirements), it aims to provide customers with customized, end-to-end, single-window, integrated logistics solutions that include a range of value-added services along the supply chain. The business designs customized supply chains using its suite of logistics products, optimizing them to meet client-specific goals.
Western Carriers has established ties with clients in a number of different industries, including engineering, oil & gas, fast-moving consumer goods ("FMCG"), chemicals, metals, pharmaceuticals, and retail. GHCL, BCPL, Sheela Foam, Cipla, Vedanta, Hindalco, Cipla, Haldia, and Tata Steel are a few of them. These enduring connections have also helped WCIL's customer base to increase and its revenues from current clients to rise. Eighty percent of its revenue in the fiscal year 2024 came from clients who had been using the service for more than three years, and the top ten clients had a 100% customer retention rate. Its firm continues to change in response to the changing needs of its clients, some of whom are leaders in their respective industries.
The company aims to broaden the breadth of engagement with current clients over the next several years by bolstering current service offerings, expanding into new markets, servicing previously untapped locations, introducing value-added services, and providing time- and money-saving solutions. Apart from its own fleet of more than 400 cars, the company also hires out cars on-demand through spot agreements with nearby third-party market participants. It has specialized brokers on most main routes that provide WCIL with automobiles first. This makes supply from a trusted and certified source possible. Although it has a contract with a third party for rake booking, it books rakes based on the requirements and needs.
The market capitalization of Western Carriers (India) IPO is Rs 1753.63 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 22.41% |
| ROCE | 29.23% |
| Debt/Equity | 0.67 |
| RoNW | 20.17% |
| P/BV | 3.4 |
| PAT Margin (%) |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.21 | 7.88 |
| P/E (x) | 16.85 | 21.83 |
The net proceeds of the Fresh Issue, i.e., gross proceeds of the Fresh Issue less the Offer expenses apportioned to the Company (“Net Proceeds”) are proposed to be utilised in the following manner:
Western Carriers (India) Limited 2/6 Sarat Bose Road |
Link Intime India Private Ltd Phone: +91-22-4918 6270 |
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