Western Carriers IPO Allotment Expected on Sep 20: How to Check Status Online, Latest GMP, and Key Details

The share allotment for Western Carriers (India) Ltd’s Initial Public Offering (IPO) is expected to be finalized on Friday, September 20. The ₹493 crore IPO of the Kolkata-based logistics company saw strong demand, with 63.78 crore shares being subscribed against the 2.08 crore shares on offer. The IPO, which raised ₹148 crore from anchor investors, was subscribed 30.57 times by the close of bidding.

Western Carriers’ IPO was priced between ₹163-172 per share. Investors who subscribed can check their share allotment status via Link Intime India Private Limited, the official registrar of the issue.

Steps to Check Western Carriers IPO Allotment Status on Link Intime:

1. Visit the Link Intime IPO Allotment Page.
2. Select Western Carriers Limited from the dropdown list.
3. Enter your PAN, Application Number, or DP Client ID to check the allotment status.
4. Click Submit.
5. The allotment status will appear on the screen.

Steps to Check Allotment Status on BSE:

1. Go to the BSE Website.
2. Click on the Investors tab.
3. Under Investor Services, select Status of Issue Application.
4. Choose Equity in the issue type.
5. Select Western Carriers Limited from the dropdown.
6. Enter your PAN and click on Search to view your status.

As of today, Western Carriers’ shares are commanding a GMP (Grey Market Premium) of around ₹20 per share. This suggests a possible listing pop when the shares debut on the market, which is tentatively set for September 24.

The Western Carriers IPO consists of a fresh issue of ₹400 crore and an offer-for-sale (OFS) of up to 54 lakh equity shares valued at ₹93 crore, offered by promoter Rajendra Sethia. The proceeds from the fresh issue will be used for:

• ₹163.5 crore for debt repayment.
• ₹152 crore for capital expenditure, including the purchase of commercial vehicles, shipping containers, and reach stackers.
• The remaining funds will be allocated for general corporate purposes.

Western Carriers is one of India’s top private multimodal, rail-focused, and asset-light logistics companies. As of March 2024, it serves 1,647 clients across industries such as metals and mining, FMCG, pharmaceuticals, chemicals, oil and gas, and utilities. Key clients include Tata Steel, Hindalco Industries, Vedanta, BALCO, HUL, Cipla, and Haldia Petrochemicals, among others.

Disclaimer: The information provided in this article is based on updates and reports gathered from various internet sources. Every effort has been made to ensure accuracy and reliability. We encourage readers to verify the details independently.