Western Carriers IPO allotment: Here's how you can check status

The share allotment of Western Carriers IPO is likely to be finalised today. Investors will get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE or even on the registrar's website.

Firstly, here's how you can know the status on BSE

Step 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)

Step 2: Please select the issue name, that is the company's name in the drop down.

Step 3: Enter the application number or PAN number to check the allotment status.

To check the status of Western Carriers IPO allotment through the registrar, which is Link Intime India in this case, kindly follow the below steps.

Step 1: Visit the Link Intime India website (https://linkintime.co.in/initial_offer/public-issues.html)

Step 2: Select Western Carriers IPO

Step 3: Enter the PAN details and click search to know the status

Western Carriers GMP

The company's shares are expected to get listed on the exchanges on September 24. In the unlisted market, the company's shares are trading with a GMP of Rs 25, which translates to a premium of 15% to the issue price.

Also Read: Kalana Ispat IPO: Check issue size, price band, GMP and other details

Western Carriers IPO subscription

The initial public offer (IPO) of Western Carriers received robust response from investors with an overall subscription of 30.6 times at close.

Proceeds from the fresh issue will be used to repay borrowings, fund capital expenditure towards the purchase of commercial vehicles, containers, and reach stackers, with the remainder allocated for general corporate purposes.

Western Carriers has a pan-India presence through over 50 branch offices and four zonal offices across 23 states in India. The company’s 16 warehouses are located across 12 states and it operates at over 55 major public rake handling points spread across India.

Its pan-India presence allows it to provide both first-mile and last-mile connectivity to its customers who have operations across India, including in remote areas.

As of March 31, 2024, the company had a customer base of 1,647 across industries like metals, FMCG, pharmaceuticals, chemicals, and oil & gas. Key clients include Tata Steel, Hindalco Industries, HUL, and DHL.

The company's consolidated revenue from operations increased 4% to Rs 1686 crore for FY24. Profit after tax rose 12% to Rs 80.3 in the same period.

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