Western Carriers (India) Limited 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 offers sectors such as metals, fast-moving consumer goods (“FMCG”), pharmaceuticals, chemicals, engineering, oil and gas and retail. The company’s clientele includes Tata Steel Limited (“Tata Steel”), Hindalco Industries Limited (“Hindalco”), Jindal Stainless Limited (“JSL”), JSW Steel Coated Products Limited (“JSW”), Bharat Aluminium Company Limited(“BALCO”)and Vedanta Limited(“Vedanta”), Hindustan Unilever Limited (“HUL”), Hindustan Coca Cola Beverages Private Limited (“Coca Cola India”), Tata Consumer Products Limited (“Tata Consumer”), Gujarat Tea Processors and Packers Limited (“Wagh Bakri”) and CG Foods India Private Limited (“CG Foods”), Cipla Limited (“Cipla”), Materials Chemicals and Performance Intermediaries Private Limited (“MCPI”) (formerly, MCC PTA India Corp. Private Limited, a subsidiary of Mitsubishi Chemical Corporation), Haldia Petrochemicals Limited (“Haldia”) and Gujarat Heavy Chemicals Limited(“GHCL”)Oil and Gas Brahmaputra Cracker and Polymer Limited(“BCPL”)Utilities and others*Sheela Foam Limited(“Sleepwell”)and DHL Logistics Private Limited.
The company provides chartering services to overseas destinations, stevedoring services at Indian ports, and coastal movement of cargo within India. They specialize 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 of December 31, 2022, the company served a d over 1,100 customers.
As of December 31, 2022, the company had 1,350 employees in various departments.
Western Carriers IPO – Details
| IPO Opening Date | 13 September 2024 |
| IPO Closing Date | 19 September 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 2,86,55,813 Shares Worth ₹492.88 Crore Fresh Issue: 2,32,55,813 Shares Worth ₹400.00 Crore Offer For Sale: 54,00,000 Shares Worth ₹92.88 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹163 – ₹172 per share |
| Market Lot | 87 Shares |
| Min Order | 87 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Western Carriers IPO – Date Schedule
| IPO Open Date | 13 September 2024 |
| IPO Close Date | 19 September 2024 |
| Basis of Allotment | 20 September 2024 |
| Initiation of Refund | 23 September 2024 |
| Credit of Shares to Demat Account | 23 September 2024 |
| IPO Listing Date | 24 September 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 19, 2024 |
Western Carriers IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 87 | ₹14,964 |
| Retail (Max) | 13 | 1,131 | ₹1,94,532 |
| S-HNI (Min) | 14 | 1,218 | ₹2,09,496 |
| S-HNI (Max) | 66 | 5,742 | ₹9,87,624 |
| B-HNI (Min) | 67 | 5,829 | ₹10,02,588 |
Competitive Strengths
- Experience in delivering customised, end-to-end services and executing complex and customised projects;
- Comprehensive and integrated multi-modal, end-to-end logistics solutions;
- Strong customer relationships with a diverse customer base;
- Strategically positioned to capitalise on a fast-growing logistics market in India; and
- A scaled, asset-light business model with a successful track record of delivering growth profitability and experience for Promoters and the Company.
Company Promoters
- Rajendra Sethia
- Kanishka Sethia
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 1475.78 | 1392.42 | 61.12 | 150.40 |
| 31 March 2023 | 1637.84 | 1541.78 | 71.56 | 210.47 |
| 31 March 2024 | 1691.41 | 1583.12 | 80.34 | 266.00 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 22.41% |
| ROCE | 29.23% |
| Debt/Equity | 0.67 |
| RoNW | 20.17% |
| P/BV | 3.4 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 10.21 | 7.88 |
| P/E (x) | 16.85 | 21.83 |
Object Of The Issue
- Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the Company;
- Funding of capital expenditure requirements of our Company towards purchase:
- Commercial Vehicles;
- 40 feet specialised containers and 20 feet normal shipping containers; and
- reach stackers; and
- General corporate purposes.
Western Carriers IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 5 | Container Corporation of India Limited | 47.73 |
| 2 | 10 | Mahindra Logistics Limited | -62.93 |
| 3 | 2 | TCI Express Limited | 32.48 |
Western Carriers IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 71.89% |
Western Carriers IPO Prospectus
Company Contact Information
| Western Carriers (India) Limited 2/6 Sarat Bose Road 2nd Floor, Kolkata-700020 Phone: +91 33 2485 8519 Email: investors@westcong.com Website: https://western-carriers.com/ |
Western Carriers IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: westerncarriers.ipo@linkintime.co.in Website: https://linkintime.co.in/initial_offer/public-issues.html |
Western Carriers IPO Lead Manager(s)
| 1. JM Financial Limited 2. Kotak Mahindra Capital Company Limited |
Western Carriers IPO FAQs
| What is Western Carriers IPO? Western Carriers IPO is a main-board IPO. The issue is priced at ₹163 to ₹172 per equity share. The IPO is to be listed on BSE & NSE. |
| When Western Carriers IPO will open? The IPO is to open on 13 September 2024 for QIB, NII, and Retail Investors. |
| What is Western Carriers IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Western Carriers IPO? You can apply Western Carriers IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Western Carriers IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Western Carriers IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Western Carriers IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Western Carriers IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Western Carriers IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Western Carriers IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Western Carriers IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Western Carriers IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Western Carriers IPO Size? Western Carriers IPO size is ₹492.88 Crore. |
| What is Western Carriers IPO Price Band? Western Carriers IPO Price Band is ₹163 to ₹172. |
| What is Western Carriers IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 87 Shares with ₹14,964 amount while the maximum bid is 1,131 Shares with ₹1,94,532. |
| What is the Western Carriers IPO Allotment Date? Western Carriers IPO allotment date is 20 September 2024. |
| What is the Western Carriers IPO Listing Date? Western Carriers IPO listing date is 24 September 2024. The IPO is to be listed on BSE and NSE. |
