Western Carriers (India) Ltd Sets IPO Price Band and Dates

Logistics company Western Carriers (India) Ltd has announced a price band of Rs 163-172 per share for its Rs 493-crore IPO. Public subscription runs from September 13-18, with anchor investors bidding on September 12. The IPO includes a fresh issue and an Offer For Sale by promoter Rajendra Sethia.

Western Carriers (India) Ltd, a major player in the Indian logistics sector, has announced the price range for its Rs 493-crore Initial Public Offering (IPO). Shares will be available for public subscription from September 13 to 18, with anchor investor bidding opening on September 12.

The IPO consists of a fresh issue of equity shares worth up to Rs 400 crore and an Offer For Sale (OFS) comprising up to 54 lakh equity shares, amounting to Rs 93 crore at the upper end of the price band. Promoter Rajendra Sethia is spearheading the OFS component.

The funds raised will be allocated towards debt repayment, capital expenditure for purchasing commercial vehicles and other logistics infrastructure, as well as general corporate expenses. Investors can bid for a minimum of 87 equity shares and in multiples thereof.

(With inputs from agencies.)