Western Carriers IPO Allotment Status to be Finalized Today
The share allotment of Western Carriers IPO is likely to be finalized today. Investors will be allocated shares on a lottery basis, and the entire process is supervised by the registrar.
How to Check the Allotment Status
To check the allotment status, investors can visit the BSE website or the registrar's website. Here are the steps to follow:
- Visit the BSE Website
- Select the issue name (Western Carriers) from the drop-down menu
- Enter the application number or PAN number to check the allotment status
Alternatively, investors can check the allotment status on the registrar's website (Link Intime India):
- Visit the Link Intime India website
- Select Western Carriers IPO
- Enter the PAN details and click search to know the status
Listing and GMP
The company's shares are expected to get listed on the exchanges on September 24. In the unlisted market, the company's shares are trading with a Grey Market Premium (GMP) of Rs 25, which translates to a premium of 15% to the issue price.
IPO Subscription and Details
The initial public offer (IPO) of Western Carriers received a robust response from investors, with an overall subscription of 30.6 times at close. The proceeds from the fresh issue will be used to repay borrowings, fund capital expenditure towards the purchase of commercial vehicles, containers, and reach stackers, with the remainder allocated for general corporate purposes.
About Western Carriers
Western Carriers has a pan-India presence through over 50 branch offices and four zonal offices across 23 states in India. The company operates in various industries, including metals, FMCG, pharmaceuticals, chemicals, and oil & gas. Key clients include Tata Steel, Hindalco Industries, HUL, and DHL.
The company's consolidated revenue from operations increased 4% to Rs 1686 crore for FY24, while profit after tax rose 12% to Rs 80.3 in the same period.