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Western Carriers IPO: Highly anticipated initial public offering (IPO) on September 13
Western Carriers IPO: Highly anticipated initial public offering (IPO) on September 13
Get ready for a major financial event! Western Carriers (India) Ltd, a powerhouse in India's logistics sector, is gearing up for its highly anticipated initial public offering (IPO) on September 13. As one of the leading players in multi-modal logistics, this IPO is set to capture significant market attention.
What does this mean for investors and the future of the company?
Western Carriers (India) Ltd, renowned for its extensive logistics operations, is preparing to open its doors to the public through its initial public offering (IPO) scheduled to begin on September 13. The IPO will run until September 18, with a one-day window for anchor investors on September 12.
The offer includes a fresh issue of equity shares valued up to ₹500 crore and an Offer For Sale (OFS) of 54 lakh shares by promoter Rajendra Sethia. The funds raised from the fresh issue will be allocated strategically: ₹163.5 crore for debt repayment, ₹152 crore for acquiring new commercial vehicles, shipping containers, and reach stackers, and the remaining amount for general corporate purposes.
Western Carriers stands out in the Indian logistics landscape with its asset-light, rail-focused operations. The company boasts a diverse customer base, including industry giants like Tata Steel, Hindalco Industries, and Coca-Cola India, serving a variety of sectors from metals and mining to FMCG and pharmaceuticals.
In the fiscal year 2024, the company reported impressive financials, with revenues hitting ₹1,685 crore and a profit after tax of ₹80 crore. The IPO will be managed by JM Financial and Kotak Mahindra Capital Company, with shares slated for listing on both BSE and NSE.
Key Points:
- IPO Launch Date: September 13, 2024
- Offer Details: Fresh issue of equity shares up to ₹500 crore and OFS of 54 lakh shares
- Use of Proceeds: Debt repayment, acquisition of commercial vehicles, and general corporate purposes
- Financial Highlights: FY 2024 revenue of ₹1,685 crore and PAT of ₹80 crore
- Key Customers: Tata Steel, Hindalco, Coca-Cola India, and more
- Lead Managers: JM Financial and Kotak Mahindra Capital Company
- Listing: BSE and NSE
