Mumbai23 minutes ago
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The initial public offering (IPO) of light logistics company Western Carriers Limited has opened today. Investors can bid for shares till September 18. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 23.
Western Carriers wants to raise a total of ₹492.88 crore through this issue. For this, the company is issuing 23,255,813 fresh shares worth ₹400 crore. At the same time, the existing investors of the company are selling 5,400,000 shares worth ₹92.88 crore through Offer for Sale i.e. OFS.
If you are also planning to invest money in this, then we are telling you how much you can invest in this.
What is the minimum and maximum amount that can be invested?
- Western Carriers has fixed the price band of this issue at Rs 163 to Rs 172 per share. Retail investors can bid for a minimum of one lot i.e. 87 shares.
- If you apply for 1 lot at the upper price band of the IPO of Rs 172, then you will have to invest Rs 14,964 for it.
- At the same time, retail investors can apply for a maximum of 13 lots i.e. 1131 shares. For this, investors will have to invest Rs 1,94,532 as per the upper price band.
35% of the issue is reserved for retail investors
The company has reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).
Western Carriers was established in 2011
Western Carriers (India) Limited was established in 2011. The company is a multi-modal, rail-focused 4PL asset-light logistics company. The company provides multi-modal logistics solutions across road, rail, water and air transport and a range of value-added services.
The company is headquartered in Kolkata. The company provides its services in metals, fast-moving consumer goods (FMCG), pharmaceuticals, chemicals, engineering, oil and gas as well as retail sectors.
Its clients are Tata Steel Limited, Hindalco Industries Limited, Jindal Stainless Limited, JSW Steel, Coated Products Limited, Bharat Aluminium Company Limited, Vedanta Limited and Hindustan Unilever Limited.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
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