Western Carriers India Ltd IPO

Western Carriers India Ltd IPO

Western Carrier India Limited is coming with an IPO consisting of fresh issue of INR 500 crores and an offer for sale. Under the offer for sale segment, the existing shareholders are planning to sell 93,28,995 equity shares. 

Western Carriers India Ltd IPO – Important Details

Western Carriers India IPO DateNA
Western Carriers India IPO Listing DateNA
Western Carriers India IPO PriceNA
Western Carriers India IPO Lot SizeNA
Western Carriers India IPO Total Issue SizeFresh issue of INR 500 crores and Offer for sale of 93,28,995 equity shares
Western Carriers India IPO Basis of AllotmentNA
Western Carriers India IPO Initiation of RefundsNA
Western Carriers India IPO Credit of Shares to DematNA
Western Carriers India IPO Issue TypeBook Built Issue IPO
Western Carriers India IPO Listing AtBSE, NSE

Western Carriers India Ltd IPO – Company Profile

The company engineers their suite of logistics solutions to create customised supply-chains, optimised to achieve customer-specific targets. The company is the largest private, multi-modal, rail focused, 4PL asset-light logistics company in India in terms of container volumes in Fiscal 2022. Their domestic and EXIM market share, based upon container volumes handled, was 7% and 3%, respectively, in Fiscal 2022. 

Through the combined experience of the Company and the Promoter, Rajendra Sethia, the company has 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.

In the year 2021, the company was awarded as the ‘Best Business Partner’ by Bharat Aluminium Company and Vedanta Company. 

Western Carriers India Ltd IPO Objective

  1. Repayment or pre-payment of certain secured borrowing: The company had entered into various financing arrangements which includes working capital facilities, and term loans. Out of the said arrangement, INR 260.80 crores is outstanding as on 31st March 2023 and the company intends to use the raised funds to the extent of INR 200.24 crores to repay the borrowing.
  1. Funding of capital expenditure: As the company primarily operates an asset-light business model, a majority of infrastructure is required for operations. The company intends to utilize INR 186.10 crores for the purchase of vehicles,containers,etc
  2. General corporate purpose: The company plans to deploy the balance funds towards general corporate purpose which is not limited to meeting expenses incurred in ordinary course of business such as strategic initiatives including advancement of information technology, meeting future branch and business expansion,etc.

Western Carriers India Ltd IPO Risks And Challenges

Investing in IPOs comes with its own set of risks and challenges. For Western Carrier, these are some of the major risks and challenges:

  • Dependency Risk: The company depends significantly on customers in the metals and FMCG industries and are highly dependent on the performance of these industries. A decrease in the revenues we derive from them could materially and adversely affect our business, results of operations, cash flows and financial condition.
  • Credit Risk: The company is exposed to counterparty credit risk in the usual course of business dealing with their customers, vendors/third-parties or other counterparties who may delay or fail to make payments or perform their other contractual obligations.

Western Carriers India Ltd IPO Peer Comparison

CompanyTypeTotal Income (₹ in million)Face Value per Equity Share (₹)P/EEPS (Basic) (₹)EPS (Diluted) (₹)RoNW (%)NAV per Equity Share (Basic) (₹)
Western Carrier India LimitedConsolidated14,708.755NA7.777.7723.73%32.73
Container Corporation of India LimitedConsolidated76,527.30538.6917.2717.279.69%178.18
Mahindra Logistics LimitedConsolidated40,830.301070.845.165.145.8582.18
TCI Express LimitedConsolidated10,814.70246.4633.4833.4524.03%139.29

Western Carriers India Ltd IPO Financial Information

ParticularAs at 31 March 2021As at 31 March 2022As at 31 December 2022
Revenue (₹ in Million)11,101.1214,708.7512,069.04
Equity (₹ in Million)1,966.462,575.823,023.08
Expenses (₹ in Million)10,538.7513,924.2911,366.43
Profit and Loss After Tax (₹ in Million)446.12609.36545.63
RoNW (%)22.64%23.73%18.22%
Diluted EPS only (₹)5.667.777.00
NAV per Equity Share (₹)24.9932.7338.41
Total Assets (in million)4,252.154,903.295,721.36
Total Liabilities (in million)2,698.282,327.472,285.69

Western Carriers India Ltd IPO – Industry & Market Potential

The Indian logistics industry is expected to increase steadily at a CAGR of approximately 11%, reaching approximately ₹30 trillion by Fiscal 2027.The logistics sector has been recognised as a core enabler for the development of India to reach the government’s vision.

Key drivers of growth for the logistics sector:

The logistics industry is witnessing a robust expansion which is led by sustainable supply side and demand side growth drivers. This includes growing expenditure on transportation, warehousing and supply chain management. 

The following represent some important enablers for the Indian logistics industry to reach approximately ₹30 trillion by Fiscal 2027.

  • Healthy economic growth with strong FDI momentum;
  • Increase in public infrastructure spending related to transportation through government policies, including National Logistics Plan, DFC, Gati Shakti, Ude Desh ka Aam Naagrik, Jal Marg Vikas;
  • Boost in exports and imports such as India’s merchandise exports achieving an all-time high of ₹31.8 trillion (US$418 billion) in Fiscal 2022 with an increase of 33% as compared to US$ 313 billion in Fiscal 2020. India’s merchandise exports aim to gain a 5% share in global merchandise exports;
  • Boost in domestic manufacturing activity propelled by ‘Make in India’ initiative which is expected to potentially contribute up to 25-30% of India’s GDP by 2025.

Western Carriers India Ltd IPO – Type of Offer

Western Carrier’s  IPO combines a fresh issue and an offer for sale (OFS).

  • Fresh Issue: The company will issue new shares to raise capital, aiming to collect INR 500 Crore. This fund will repay some of the company’s outstanding debts, to fund the purchase of new vehicles and containers. 
  • Offer For Sale (OFS): Existing shareholders, including promoters and early investors, will sell a portion of their stake in the company, intending to sell 93,28,995 equity shares. 

Western Carriers India Ltd IPO Offer Size

Western Carrier India Limited is coming with an IPO consisting of fresh issue of INR 500 crores and an offer for sale. Under the offer for sale segment, the existing shareholders are planning to sell 93,28,995 equity shares. 

With the raised funds the company intends to repay some of the company’s outstanding debts and to fund the purchase of new vehicles and containers.

Western Carriers India Ltd IPO Allotment Structure

The IPO allotment structure for Western Carrier is planned as follows:

  • Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
  • Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs. 2 lakhs.
  • Retail Individual Investors (RII): The remaining 35% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs. 2 lakhs.

How to apply for a Western Carriers India IPO through Alice Blue?

To apply for the Western Carriers India IPO through Alice Blue, you would typically follow these steps:

To apply for the Western Carriers India IPO through Alice Blue, you would typically follow these steps:

  • Click the link to log in to the IPO console.
  • Select the IPO you wish to apply for from the list of open issues.
  • Once you have selected your preferred IPO, you can view all the details such as the issue open date, closing date, issue size, price, market lots, etc.
  • Enter the UPI ID linked to your personal bank account. The application may be subject to rejection if the applicant’s identity differs from the individual linked to the bank account used for the application.
  • When placing bids, only quantities that are multiples of the lot size are allowed. If you want to apply at the cut-off price, simply click the text box next to the ‘cut-off’ price. If you wish to place a bid at a different price, enter the desired price in the ‘Price’ field.
  • After completing all the steps, read the declaration and click ‘Submit’.

Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.

How to Check Western Carriers India IPO Allotment Status on Alice Blue?

To verify the IPO allotment status for your PAN number: Once your allotment is confirmed, you will receive a confirmation email from the respective RTA. Simultaneously, you will also receive an email confirmation from Alice Blue if you applied for the IPO through the Alice Blue portal.

To determine the status of the allocated IPO, use the the link provided.

If you face any issues, it’s recommended to contact Alice Blue’s customer support for detailed assistance.

Apart from Alice Blue, there are other ways to check the allotment status of the India Western Carriers India IPO:

  • Registrar’s Website: Visit the website of Link Intime India Private Limited, the registrar of the India Western Carriers India IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN and application number or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
  • NSE and BSE: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). You would need your application number and PAN to check the status.

Please note that the allotment status will only be available after the allotment process has been completed, a few days after the IPO window closes.

Western Carriers India Ltd IPO Offer Registrar

The registrar for the Western Carriers India IPO is Link Intime India Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.

Contact information for the registrar:

Link Intime India Private Limited

C-101, 1st Floor, 247 Park

L.B.S. Marg, Vikhroli West

Mumbai – 400 083, Maharashtra

Phone: +91 81 0811 4949

Email: [email protected]

Website: www.linkintime.co.in

Western Carriers India Limited IPO FAQs

1. What is the allotment date of the Western Carriers India Limited IPO? 

The allotment date is not yet announced by the company.

2. What is the price band of Western Carriers India Limited IPO? 

The price band is not yet announced by the company.

3. What is the size of the Western Carriers India Limited IPO? 

Western Carrier India Limited is coming with an IPO consisting of fresh issue of INR 500 crores and an offer for sale. Under the offer for sale segment, the existing shareholders are planning to sell 93,28,995 equity shares

4. What is the listing date of the Western Carriers India Limited IPO?

The listing date  is not yet announced by the company. 

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