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.
To check the allotment status, investors can visit the BSE website or the registrar's website. Here are the steps to follow:
Alternatively, investors can check the allotment status on the registrar's website (Link Intime India):
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.
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.
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.
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