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Western Carriers (India) Limited IPO And Its GMP
Western Carriers (India) Limited is the largest private, multimodal, rail-focused, 4PL asset-light logistics company in India in terms of container volumes in Fiscal 2022. Their domestic and EXIM market share, based on container volumes handled, was 7% and 3%, respectively, in Fiscal 2022.
Through the combined experience of the Company and its Promoter, Rajendra Sethia, they have five decades of experience in road, rail and sea/river multi-modal movement for domestic as well as EXIM cargo in and out of India. The metrics set out below reflect the scale and growth of their operations. They operate on a scalable, asset-light business model which enables them to provide differentiated 3PL and 4PL solutions. Western Carriers (India) Limited endeavors to address complexities by creating customized, one-stop/single-window, end-to-end and integrated logistics solutions for their customers, which involve a variety of value-added services across the supply chain.
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Western Carriers (India) IPO Summary:
- ● Issue Type: Book Built
- ● Total Issue Size: ₹492.88 crores
- ○ Fresh Issue: ₹400.00 crores (2.33 crore shares)
- ○ Offer for Sale: ₹92.88 crores (0.54 crore shares)
- ● Price Band: ₹163 to ₹172 per share
- ● Minimum Lot Size: 87 shares
- ● IPO Opening Date: September 13, 2024
- ● IPO Closing Date: September 18, 2024 Key Details:
- ● Book Running Lead Manager: JM Financial Limited and Kotak Mahindra Capital Company Limited
- ● Registrar: Link Intime India Private Ltd
WHAT IS GMP?
GMP stands for Grey Market Premium, and if you are planning your IPO then GMP plays an important role. A grey market is a place where stocks/shares get traded before getting officially listed on any stock exchange. The difference between the IPO price and the grey market price is known as GMP (grey market premium). GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.
Western Carriers (India) Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 24-09-2024 | 172 | 16 (9.30%) | 24-Sep-2024 12:25 |
| 23-09-2024 | 172 | 10 (5.81%) | 23-Sep-2024 12:25 |
| 20-09-2024 | 172 | 20 (11.63%) | 20-Sep-2024 12:20 |
| 19-09-2024 | 172 | 35 (20.35%) | 19-Sep-2024 12:30 |
| 18-09-2024 | 172 | 50 (29.07%) | 18-Sep-2024 12:15 |
| 17-09-2024 | 172 | 56 (32.56%) | 17-Sep-2024 12:55 |
| 16-09-2024 | 172 | 57 (33.14%) | 16-Sep-2024 13:45 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Western Carriers (India) Limited IPO Overview
| Detail | Description |
|---|---|
| IPO Date | September 13, 2024 to September 18, 2024 |
| Listing Date | [.] |
| Face Value | ₹5 per share |
| Price Band | ₹163 to ₹172 per share |
| Lot Size | 87 Shares |
| Total Issue Size | 28,655,813 shares (aggregating up to ₹492.88 Cr) |
| Fresh Issue | 23,255,813 shares (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 5,400,000 shares of ₹5 (aggregating up to ₹92.88 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 78,699,400 |
| Shareholding post issue | 101,955,213 |
Western Carriers (India) IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Friday, September 13, 2024 |
| IPO Close Date | Wednesday, September 18, 2024 |
| Basis of Allotment | Thursday, September 19, 2024 |
| Initiation of Refunds | Friday, September 20, 2024 |
| Credit of Shares to Demat | Friday, September 20, 2024 |
| Listing Date | Monday, September 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 18, 2024 |
Western Carriers (India) Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 87 | ₹14,964 |
| Retail (Max) | 13 | 1131 | ₹194,532 |
| S-HNI (Min) | 14 | 1,218 | ₹209,496 |
| S-HNI (Max) | 66 | 5,742 | ₹987,624 |
| B-HNI (Min) | 67 | 5,829 | ₹1,002,588 |
Western Carriers (India) Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Western Carriers (India) IPO Promoter Holding
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue |
Company & Financials
Founded in March 2011, Western Carriers (India) Limited is a versatile, rail-centric 4PL logistics provider with an asset-light approach. The company delivers fully customizable multi-modal logistics solutions, integrating road, rail, water and air transportation, along with a range of value-added services. Its offerings span various sectors including metals, FMCG, pharmaceuticals, chemicals, engineering, oil and gas and retail. Key clients include prominent companies such as Tata Steel, Hindalco Industries, Jindal Stainless, JSW Steel Coated Products, Bharat Aluminium Company, Vedanta, Hindustan Unilever, Hindustan Coca-Cola Beverages, Tata Consumer Products, Wagh Bakri Tea, CG Foods, Cipla, MCPI (formerly MCC PTA India), Haldia Petrochemicals, Gujarat Heavy Chemicals, Brahmaputra Cracker and Polymer, Sheela Foam and DHL Logistics. The company also provides chartering services to international destinations, stevedoring at Indian ports, and coastal cargo movement within India, specializing in the integration of rail and road transport to optimize the supply chain for major clients in the metals and resources sector.
Western Carriers (India) Limited Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||||||||||||
| Assets | 754.01 | 604.14 | 490.33 | |||||||||||||||||||||||||||||||||||||
| Revenue | 1,691.41 | 1,637.84 | 1,475.79 | |||||||||||||||||||||||||||||||||||||
| Profit After Tax | 80.35 | 71.57 | 61.13 | |||||||||||||||||||||||||||||||||||||
| Net Worth | 398.36 | 318.61 | 257.58 | |||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 359.01 | 279.08 | 157.12 | |||||||||||||||||||||||||||||||||||||
| Total Borrowing | 266 | 210.47 | 150.4 | |||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 22.41% |
| ROCE | 29.23% |
| Debt/Equity | 0.67 |
| RoNW | 20.17% |
| P/BV | 3.4 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.21 | 7.88 |
| P/E (x) | 16.85 | 21.83 |
Objectives of Western Carriers (India) IPO
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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 utilized in the following manner:
- 1. Prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the Company.
- 2. Funding of capital expenditure requirements of the Company towards the purchase of:
- ● commercial vehicles.
- ● 40-foot specialized containers and 20-foot normal shipping containers.
- ● reach stackers.
- 3. General corporate purposes.
Western Carriers (India) IPO Review
The company is the largest private, multi-modal, rail-focused, 4PL asset-light logistics company in India. It marked steady growth in its top and bottom lines for the reported periods. Based on FY24 earnings, the issue appears reasonably priced. Considering the rising demands for logistics due to ongoing expansions/infra developments/ rising business opportunities, the company is poised for bright prospects. Investors may park funds for the medium to long term.
FAQs for Western Carriers (India) IPO
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What is Western Carriers IPO?
Western Carriers IPO is a main-board IPO. The company is going to raise ₹492.88 Crores via IPO. The issue is priced at ₹163 to ₹172 per equity share. The IPO is to be listed on BSE & NSE.
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When will Western Carriers IPO open for subscription?
The IPO is to open on September 13 for QIB, NII, and Retail Investors. The IPO will close on September 18.
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What are Western Carriers IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
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What is Western Carriers IPO Issue Size?
Western Carriers IPO issue size is ₹492.88 crores.
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What is the Western Carriers IPO Price Band?
Western Carriers IPO Price Band is ₹163 to ₹172.
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What is Western Carriers IPO Lot Size?
The minimum bid is 87 Shares with ₹14,964.
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What is the Western Carriers IPO Allotment Date?
Western Carriers IPO allotment date is September 19, 2024.
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What is the Western Carriers IPO Listing Date?
Western Carriers IPO listing date is September 23, 2024. The IPO is to be listed on BSE and NSE.
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What is the current GMP of Western Carriers?
The current GMP of Western Carriers is 16 (9.30%).
DRHP:
DRHP of Western Carriers (India) Limited IPO
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What is Western Carriers IPO?
Western Carriers IPO is a main-board IPO. The company is going to raise ₹492.88 Crores via IPO. The issue is priced at ₹163 to ₹172 per equity share. The IPO is to be listed on BSE & NSE.
-
When will Western Carriers IPO open for subscription?
The IPO is to open on September 13 for QIB, NII, and Retail Investors. The IPO will close on September 18.
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What are Western Carriers IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
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What is Western Carriers IPO Issue Size?
Western Carriers IPO issue size is ₹492.88 crores.
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What is the Western Carriers IPO Price Band?
Western Carriers IPO Price Band is ₹163 to ₹172.
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What is Western Carriers IPO Lot Size?
The minimum bid is 87 Shares with ₹14,964.
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What is the Western Carriers IPO Allotment Date?
Western Carriers IPO allotment date is September 19, 2024.
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What is the Western Carriers IPO Listing Date?
Western Carriers IPO listing date is September 23, 2024. The IPO is to be listed on BSE and NSE.
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What is the current GMP of Western Carriers?
The current GMP of Western Carriers is 16 (9.30%).
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