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WESTERN CARRIERS INDIA LIMITED

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Issue Price

₹163- ₹172

per equity share

Issue Size

2.09 crores

equity share

Face Value

per equity share

Market Lot

87

equity share

Please note

Listing at BSE ,NSE

WESTERN CARRIERS INDIA LIMITED

Important Dates

IPO Open Date

13 Sep 2024

IPO Close Date

19 Sep 2024

Allotment Date

20 Sep 2024

Initiation of Refunds

23 Sep 2024

Credit of Shares to Demat Account

23 Sep 2024

IPO Listing Date

24 Sep 2024

UPI Mandate Expiry Date

19 Sep 2024

IPO Details

Western Carriers IPO is open for subscription starting Friday, Sep 13, 2024 and closing on Wednesday, Sep 18, 2024. The price of this upcoming IPO is decided at Rs 163 to Rs 172 per share.  The minimum lot size for the retail category is 87 shares. The minimum lot size for small NII is 14 lots consisting of 1218 shares. Meanwhile, the minimum lot for big non-institutional investors is 67 lots with 5,829 shares.  The minimum investment required for retail category investors is Rs 14,880 (480 x 31 shares). However, for small non-institutional investors, the minimum investment amount required is Rs 2,09,496 (172 x 1218 shares) for big non-institutional investors, it is Rs 10,02,588 (172 x 5,829 shares).  Western Carriers IPO is a book-built issue of Rs 492.88 crores. This issue is a combination of fresh issue and offer-for-sale. The fresh issue is of Rs 2.33 crore equity shares amounting to Rs 400 crores. The offer-for-sale is of 0.54 crore equity shares amounting to Rs 92.88 crores.  The allotment for this IPO is expected to be finalised on Thursday, September 19, 2024.  Western Carriers Limited's IPO will be listed on both the exchanges BSE and NSE, and the listing date is fixed for Monday, September 23, 2024.  Jm Financial Limited, Kotak Mahindra Capital Company Limited is the book-running lead manager of Western Carriers Limited. Link Intime India Private Limited is the registrar for this new IPO.

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About WESTERN CARRIERS INDIA LIMITED

Western Carriers was incorporated in March 2011, is a Multi-modal, rail-focused, 4PL asset-light logistics company. The company offers fully customizable, multi-modal logistics solutions encompassing road, rail, water, and air transportation and a tailored range of value-added services.  The company provides chartering services to overseas destinations, stevedoring services at Indian ports, and coastal movement of cargo within India. They specialise in combining rail with road movements through an asset-light business model. The company manages and handles the supply chain for increased imports, exports, and production levels for a leading metals and resource group company. As per the latest information available, Western Carriers has served over 1100 customers and has a team of 1350 employees.

Parent Organisation

-

Founded

2011

Managing Director

Rajendra Sethia and Kanishka Sethia

IPO Objectives

The net proceeds from this IPO will be used for the repayment and prepayment of the borrowings taken in the past by the company. The remaining funds will be allocated for the expenditure in the commercial vehicles, 40 feet specialised containers and 20 feet normal shipping containers and reach stackers.

How to apply for IPO

  • Login to your Bigul account and select the issue in the current IPO section
  • Enter the number of lots and price at which you wish to apply for
  • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
  • You will receive a mandate notification to block funds in your UPI app
  • Approve the mandate request on your UPI and funds will be blocked
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