Sep 13, 2024
By: Sourabh Jain
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West Bengal-based Western Carriers’ initial public offering (IPO) is now open and will close on Wednesday, September 18.
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Western Carriers has fixed a price band of ₹163-₹172 per share for its public issue.
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Western Carriers is a West Bengal-based multi-modal, rail-focused, 4PL asset-light logistics company.
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Western Carriers is looking to raise ₹492.88 crore from the current IPO. This includes a fresh issue of ₹400 crore and an offer for sale (OFS) component of ₹92.88 crore.
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Investors can bid for a minimum of 87 shares and in multiples of 87 shares thereafter.
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The company, founded in 2011 offers road, rail, water, and air transportation. It offers chartering services to overseas destinations and specialises in combining rail with road movements through an asset-light business model.
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The company’s income was ₹1,691.41 crore in FY24, up from ₹1,637.84 crore in FY23. The company reported a profit of ₹80.35 crore in FY24, up from ₹71.57 crore profit reported in FY23.
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The company is highly dependent on select customers and sectors such as metals and FMCG. The company operates in a highly fragmented and competitive industry.
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The funds raised will be used to fund the capital expenditure requirements, repayment of borrowings and general corporate purposes.
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