Big Announcement Western Carriers IPO allotment expected on September 20

The allotment of shares in the initial public offering (IPO) of Western Carriers (India) Ltd. is set to be finalised on Friday, September 20. The mainboard issue closed with a strong subscription on the final day of bidding, September 19. The public offer was booked over 30.57 times with bids for more than 63.78 crore shares as against 2.08 crore shares.

Non-institutional investors (NIIs) booked their quota 44.71 times, driving the subscription demand. The retail portion of Western Carriers IPO was booked 25.95 times. Qualified Institutional Buyers booked their segment 27.99 times.

Here’s how to check Western Carriers IPO share allotment status on the BSE website:

1. Open the BSE website at https://www.bseindia.com
2. Navigate to the BSE’s application status section: https://www.bseindia.com/investors/appli_check.aspx
3. Under issue type, select ‘equity’.
4. Select Western Carriers (India) Limited from the list.
5. Enter your PAN or IPO application number.
6. Click ‘search’ to discover the allotment status.

Steps to check Western Carriers Limited IPO share allotment status on the registrar’s portal:

1. First, go to the website of the registrar which is Link Inktime India Private Limited (https://www.linkintime.co.in/)
2. Go to the investor services section.
3. In the next step, select public issues.
4. Among the IPOs, select Western Carriers Limited
5. Select an identifier from the list (PAN, Application Number, DP/Client ID, or Account Number/IFSC).
6. Enter the required details.
7. Click submit to check the status.

You can also view the share allotment details for Western Carriers IPO on the NSE website.
Western Carriers IPO Details

Western Carriers IPO is a book-built issue valued at ₹492.88 crores. It consists of a fresh issue of 2.33 crore shares totalling ₹400 crores along with an offer-for-sale of 0.54 crore shares amounting to ₹92.88 crores.

The IPO price band was set at ₹163 to ₹172 per share.

Ahead of the IPO opening, the company raised ₹148 crore from anchor investors.

The net proceeds from the IPO will be used to settle existing debts and fund capital expenditure for the purchase of commercial vehicles, containers, and reach stackers. A portion of the money raised will be allocated for general corporate purposes.

Western Carriers is a logistics company with a customer base of over 1,600 across metals and mining, oil and gas, pharmaceutical, chemicals, FMCG, utilities and building materials sectors.

The company’s clientele includes Tata Consumer Products, Hindalco Industries, Tata Steel, Vedanta, HUL, Coca-Cola India and BALCO.