Western Carriers offers exposure to fast growing logistics business

economictimes.indiatimes.com:

IPO dates: September 13-18, 2024
IPO price: Rs 163-172
IPO size: Upto Rs 493 crore

Implied market cap: Upto Rs 1,754 crore
Face value: Rs 5
Lot size: 87
Retail portion: 35%

Western Carriers (India), a multimodal, asset light logistics company, plans to raise Rs 400 crore through an issue of fresh equity to repay debt and to fund capital expenditure, and another Rs 93 crore through an offer for sale by the promoters. The promoter stake will fall to 72% after the IPO from 100%. The company provides supply chain management solutions across sectors and has a marquee client base including Tata Steel, Hindalco, Vedanta, HUL, Hindustan Coca Cola Beverages, Tata Consumer Products, DHL, and Cipla. Given its expertise and the country’s fast expanding logistics landscape, long-term investors may consider the issue.

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Business

While the company was incorporated in 2011, it was a proprietary setup in the business of logistics since 1972. It is