IPO Details
Bidding Dates
13 Sept 24 - 19 Sept 24
Price Range ₹
163 - 172
Total Equity
₹ 514.97Cr
Lot Size
87
Exchange Status
BSE,NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
25.95×
Qualified Institutional Buyers
27.99×
Employees
0.00×
Retail Investors
25.95×
Total subscription Rate
30.57×
IPO Timeline
Offer start
13 Sept 2024
Offer end
19 Sept 2024
Allotment
19 Sept 2024
Refund initiation
20 Sept 2024
Demat transfer
20 Sept 2024
Listing
24 Sept 2024
Offer start
13 Sept 2024
Offer end
19 Sept 2024
Allotment
19 Sept 2024
Refund initiation
20 Sept 2024
Demat transfer
20 Sept 2024
Listing
24 Sept 2024
About Company
Incorporated in March 2011, Western Carriers (India) Limited is a multi-modal, rail-centric, 4PL asset-light logistics provider. The company offers customizable logistics solutions spanning road, rail, water, and air transportation, along with a range of tailored value-added services. Western Carriers serves a variety of sectors, including metals, FMCG, pharmaceuticals, chemicals, engineering, oil and gas, and retail. Its client base features prominent names such as Tata Steel, Hindalco Industries, Jindal Stainless, JSW Steel, BALCO, Vedanta, Hindustan Unilever, Coca-Cola India, Tata Consumer Products, Wagh Bakri, CG Foods, Cipla, MCPI, Haldia Petrochemicals, GHCL, BCPL, Sheela Foam (Sleepwell), and DHL Logistics. The company also offers chartering services to international destinations, stevedoring at Indian ports, and coastal cargo movement within India. Leveraging an asset-light model, Western Carriers specializes in integrating rail and road transportation. The company plays a key role in managing supply chains for increased imports, exports, and production levels for a leading metals and resource group. As of December 31, 2022, Western Carriers had served over 1,100 customers and employed 1,350 people across various departments.
Year Founded
23-03-2011
Promotor Details
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 99.99 | 0 |
| Share Capital | 78699320 | 0 |
Offer to Public
2,99,39,877.00 Cr
Project Details
- Funding of capital expenditure requirements of our Company towards purchase - 1517.1cr
- Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by our Com - 1635cr
Objectives
- 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
- andGeneral corporate purposes.
Highlights
- Strong relationships with over 1,100 customers, including prominent companies across multiple industries.
- Ownership of more than 400 GPS-enabled vehicles, heavy equipment, and shipping containers ensures smooth logistics operations.
- Provides end-to-end logistics solutions, including international chartering, stevedoring, and coastal cargo movement.
- Steady increase in revenue and PAT over the years, showcasing the company's strong financial performance.
- Partnerships with leading industrial players like Tata Steel and Hindalco highlight the company’s reliability and market presence.
Challenges
- Heavy reliance on key customers in metals and FMCG sectors, with over 70% of revenue from the top 10 clients, making the company vulnerable to fluctuations in demand.
- Reliance on an Indian rail container logistics provider under government control poses risks if unfavorable changes occur.
- Customer contracts can be terminated on short notice without cause or compensation, increasing the risk of sudden revenue loss.
- The company's performance hinges on the efficient use of logistics infrastructure, and any disruptions could severely impact operations.
- Outstanding borrowings of Rs 260.80 crore pose financial risk, with any inability to service or repay these loans potentially damaging the company’s financial standing.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2021 | 4,383.60 | 393.50 | 803.47 | 803.47 | 10.2093 |
| 2024 | 7,789.42 | 393.50 | 611.29 | 611.29 | 7.7673 |
| 2020 | 3,719.59 | 393.50 | 445.28 | 445.27 | 5.6578 |
| 2023 | 6,257.01 | 393.50 | 715.65 | 715.65 | 9.0934 |
| 2022 | 5,099.81 | 393.50 | 358.58 | 358.63 | 4.5569 |
