Western Carriers IPO GMP Details
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Western Carriers (India) Limited is a prominent player in the Indian logistics industry, holding the distinction of being the largest private, multi-modal, rail-focused, and asset-light 4PL company in terms of container volumes during Fiscal 2022. The company has made significant strides in both the domestic and EXIM markets, capturing market shares of 7% and 3%, respectively, based on the container volumes handled in the same fiscal year.
With a strong legacy and extensive expertise in road, rail, sea, and river multi-modal transportation, Western Carriers (India) boasts an impressive five decades of experience in the logistics sector. Its founder and Promoter, Rajendra Sethia, has been an integral part of the logistics industry since 1972 when he established a rail-focused logistics business. In 2013, the business was acquired by Western Carriers (India), cementing its position as a leader in the field.
Operating on a scalable and asset-light business model, Western Carriers (India) specializes in providing innovative and differentiated 3PL and 4PL solutions. The company excels in addressing the complexities of the supply chain by offering tailored, one-stop/single-window, end-to-end, and integrated logistics solutions. These comprehensive solutions include a diverse range of value-added services, ensuring a seamless and efficient experience for its valued customers.
Objectives of the issue
The objectives of the Western Carriers (India) Limited IPO are as follows:
- Prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the company.
- Funding capital expenditure requirements, which include the purchase of commercial vehicles, 40 feet specialised containers, 20 feet normal shipping containers, and reach stackers.
- General corporate purposes to support the overall business operations and expansion initiatives.
Western Carriers (India) IPO Details
Western Carriers (India) Limited IPO details are as follows:
- Fresh Issue: ₹500 crore
- Offer for Sale: ₹93.29 lakh
- Price Band: Yet to be announced
- Lot Size: Yet to be announced
- Stock Exchanges: BSE and NSE
Peer Details
The listed peer companies operating in the same business line as Western Carriers (India) Limited are:
- Container Corporation of India Limited
- Mahindra Logistics Limited
- TCI Express Limited
Highlights of Western Carriers (India) Ltd
Highlights of Western Carriers (India) Ltd are:
- Strong Revenue Growth: The company has achieved consistent revenue growth, with revenue from operations increasing to ₹14,708.75 million in Fiscal 2022 from ₹10,672.89 million in Fiscal 2020, representing a CAGR of 17.39%.
- Robust EBITDA and Profit Growth: Western Carriers (India) has demonstrated significant growth in EBITDA and profit for the year. EBITDA increased to ₹1,088.87 million in Fiscal 2022 from ₹794.21 million in Fiscal 2020, representing a CAGR of 17.09%, while the profit for the year increased to ₹611.29 million in Fiscal 2022 from ₹358.58 million in Fiscal 2020, representing a CAGR of 30.57%.
- Extensive Network: As of December 31, 2022, the company has established a wide network presence with four zonal offices, over 50 branch offices, and 15 warehouses, all of which are leased. The company also owns a fleet of over 400 GPS-enabled heavy commercial vehicles, more than 100 pieces of heavy equipment, and over 400 shipping containers.
Western Carriers (India) Ltd Company Financial Report
Particulars | As of and for the 9-month period ended December 31, 2022 | As of and for Fiscal 2022 | As of and for Fiscal 2021 |
---|---|---|---|
Revenue from Operations | 12,069.04 | 14,708.75 | 11,101.12 |
EBITDA | 550.94 | 611.29 | 445.28 |
EBITDA Margin | 7.94 | 7.40 | 7.62 |
Profit After Tax (PAT) | 550.94 | 611.29 | 445.28 |
Debt to Equity Ratio | 0.63 | 0.58 | 0.69 |
Western Carriers (India) Contact Information
Western Carriers (India) Limited
2/6 Sarat Bose Road, 2nd
Floor, Kolkata 700 020, West Bengal, India
Contact Person: Sapna Kochar, Company Secretary and Compliance Officer
Tel: +91 33 2485 8519
E-mail: investors@westcong.com
Website: western-carriers.com
Western Carriers (India) IPO Registrar
Name: Link Intime India Private Limited
Phone: +91 81 0811 4949
Email: westerncarriers.ipo@linkintime.co.in
Website: https://www.linkintime.co.in/
Western Carriers (India) IPO Prospectus
To gain comprehensive insights into the company, you can review the documents submitted by the company during the filing process.
Western Carriers IPO GMP Key Points
Strengths:
- The company’s expertise in providing end-to-end logistics and tailored solutions to customers gives it a significant competitive edge.
- Western Carriers’ execution capabilities and ability to offer comprehensive, customized logistics solutions in a market with entry barriers position it to benefit from favorable trends and initiatives in the Indian logistics industry.
Risks:
- There is a risk that Western Carriers may not sustain the pace of its past growth in future financial periods. Additionally, its business and operational results may be adversely impacted if it faces challenges in successfully implementing its business plans and growth strategies.
- Western Carriers may face difficulties in servicing its debt obligations on time or complying with financial and other covenants of its financing agreements, posing potential risks to the company.
Western Carriers (India) IPO FAQs
What is Western Carriers (India) Limited’s IPO?
The Western Carriers (India) Ltd IPO is a fresh issue of shares aggregating up to ₹500 crore and an offer for sale of 93.29 lakh equity shares. The issue price is yet to be announced.
When will Western Carriers (India) Limited’s IPO be allotted?
The allotment date is yet to be announced.
When will Western Carriers (India) Limited’s IPO open for subscription?
The subscription dates for the IPO are yet to be announced.
What minimum lot size can retail investors subscribe to?
The minimum lot size for retail investors is yet to be announced.
I have finished the application process for the Western Carriers (India) Limited IPO, but the funds still need to be debited. What is the reason?
In the new UPI-based IPO application process, the funds are only blocked initially in your account. The actual debit will occur only after the shares are allotted to you.
How do I approve the UPI mandate request for Western Carriers (India) Limited’s IPO?
To approve the UPI mandate request, log in to your UPI handle and authorize the payment.
Can I submit more than one application for the public issue of Western Carriers (India) Limited using one PAN?
No, you can submit only one application for the public issue using your PAN card.