About Western Carriers:
They are the largest private, multi-modal, rail-focused, 4PL asset-light logistics company in India in terms of container volumes handled by private players in Fiscal 2023. Their domestic and EXIM market share, based on container volumes handled, was 6% and 2%, respectively, in Fiscal 2023 (Source: 1Lattice Report). They possess expertise in facilitating multi-modal transportation across roads, railways, and waterways, catering to both domestic and EXIM cargo movements in and out of India. They strive to address complexities by creating customised, one-stop/single-window, end-to-end, and integrated logistics solutions for their customers.
About the Industry in which Western Carriers operates:
The logistics sector is a key enabler for India’s development in alignment with the government’s vision of achieving a U.S.$5 trillion economy by 2025. Its robust expansion is driven by increased public infrastructure spending through initiatives such as the National Logistics Policy (NLP), Dedicated Freight Corridors (DFCs), and the Gati Shakti Master Plan, which aims to reduce logistics costs to 7% to 8% of GDP. Major demand drivers include the surge in domestic manufacturing and consumption, the rise in MSME demand supported by government initiatives like ‘Aatmanirbhar Bharat’ and ‘Make in India,’ and the growing adoption of integrated fulfillment services and digitised supply chains.
| Important Information and Timelines of the IPO of Western Carriers: | |
|---|---|
| Open Date | 13 September 2024 |
| Close Date | 18 September 2024 |
| Total Issue Size – Number of Shares | 28655813 |
| Minimum Bid Price | 163 |
| Maximum Bid Price | 172 |
| Lot Size | 87 |
| Basis of Allotment | 19 September 2024 |
| Initiation of Refunds and Credit of Shares to Demat | 20 September 2024 |
| Listing Date | 23 September 2024 |
| Listing Exchange(s) | NSE and BSE |
Minimum and Maximum Lot Sizes for the IPO of Western Carriers:
| Category | Lots | Shares | Amount (in ₹) |
|---|---|---|---|
| Retail – Minimum | 1 | 87 | 14964 |
| Retail – Maximum | 13 | 1131 | 194532 |
| sHNI – Minimum | 14 | 1218 | 209496 |
| sHNI – Maximum | 66 | 5742 | 987624 |
| bHNI – Minimum | 67 | 5829 | 1002588 |
Objective of the IPO of Western Carriers:
-
Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by our Company.
-
Funding of capital expenditure requirements of our Company towards purchase of
(i) commercial vehicles;
(ii) 40 feet specialised containers and 20 feet normal shipping containers; and
(iii) reach stackers -
General corporate purposes
Financials of Western Carriers:
| Particulars | 2024 | 2023 | 2022 |
|---|---|---|---|
| Equity share capital | 393.50 | 393.50 | 393.50 |
| Net Worth | 3,983.62 | 3,186.07 | 2,575.82 |
| Revenue from operations | 16,857.69 | 16,330.63 | 14,708.75 |
| Profit for the year | 803.47 | 715.65 | 611.29 |
| Earnings per equity share | 10.21 | 9.09 | 7.77 |
| NAV per equity share | 50.62 | 40.48 | 32.73 |
| Total borrowings | 2,659.98 | 2,104.71 | 1,503.96 |
For more details on the IPO, refer to the DRHP here.
Did you know that you can now Pre-Apply for an IPO on Dhan? You can place your IPO Bid on Dhan and the order will be pushed to the Exchange as soon as the Bidding starts for Western Carriers. You will receive a UPI mandate after 10:00 AM on 13 September 2024.
###1. How to apply for the IPO of Western Carriers on Dhan?
You can apply for the IPO of Western Carriers from either Dhan Mobile App or Web
On Dhan Mobile App you can find the IPO under the Money Section > IPO Tab
On Dhan Web you can find the IPO under Markets Tab > IPOs
###2. In case of successful allotment, when the IPO shares of Western Carriers be visible on Dhan?
The CDSL will intimate you regarding the credit of shares into your Demat account by 20 September 2024. However, you will be able to see the shares of Western Carriers on Dhan before the market starts on the listing date which is 23 September 2024.