Western Carriers India IPO: Bidding for the initial public offering (IPO) of Western Carriers (India) Limited opened on 13 September 2024 i.e. last week Friday. This public issue will remain open till 19 September 2024 i.e. Thursday this week. The company has fixed the price band of Western Carriers India IPO From 163 172 per equity share. The book build issue is proposed to be listed on BSE and NSE. The company aims to raise Rs 172 crore. 492.88 crores, a mix of fresh shares and offer for sale (OFS). After the first day of bidding, the subscription status of Western Carriers India IPO shows that investors have responded strongly to the mainboard IPO.
Western Carriers India IPO GMP Today
Meanwhile, after two days of bidding, Western Carriers India's IPO has seen a lot of buzz in the grey market. According to stock market experts, the company's shares are available at a premium. Today Western Carriers India IPO GMP (Grey Market Premium) in Grey Market is 58. It means today Western Carriers India IPO GMP (Grey Market Premium) is 58. 58, which was on Friday 30 last week. Hence, Western Carrier India IPO GMP has increased almost twice since the subscription opening date. Market observers said that the positive bias on Dalal Street and decisive response by primary market investors could be the reasons for the rising bias in favour of Western Carrier India IPO.
Western Carriers India IPO Subscription Status
As of 10:39 am on the third day of bidding, the book build issue was subscribed 5.90 times, the retail portion of the public issue was booked 8.76 times, the NII segment was filled 6.91 times, and the QIB portion received 0.03 times bids.
Western Carriers India IPO Review
Giving a 'Subscribe' tag to the public issue, Anshul Jain, Head of Research, Laxmishri Investment & Securities Ltd, said, “Western Carriers' IPO presents an attractive opportunity for investors looking to invest in the fast-growing Indian logistics sector. The company's strong financial performance and strategic position in a fast-growing market make it a promising investment prospect. With a proven track record of delivering consistent profitability and sustainable growth, Western Carriers has demonstrated its ability to navigate industry challenges and capitalise on emerging opportunities. The company's focus on operational efficiency, coupled with its strategic investments in technology, positions it well to meet the emerging demands of the logistics industry.”
Anshul Jain said, “The valuation of the IPO is also attractive, providing investors with a favourable entry point. Given the strong fundamentals and growth prospects of the company, subscribing to the IPO appears to be a strategic investment decision. However, it is important to do thorough due diligence and consider personal risk tolerance before investing.”
Giving a 'Subscribe' tag to the public issue, Akriti Mehrotra, Research Analyst, Stoxbox, said, “The current issue is priced at a P/E of 16.8x at the upper band based on FY24 earnings and is relatively lower than its peers. Given its strong financial position, strategic initiatives and position to capitalise on the expanding rail-road multi-modal sector, we recommend a “Subscribe” rating for this issue with a medium to long-term investment perspective.”
Western Carriers India IPO Details
The public issue hit the Indian primary market on 13th September 2024 and it will remain open till 19th September 2024. This means the public issue will remain open till Thursday this week (as per BSE). Western Carriers India IPO allotment date is most likely on 20th September 2024, i.e. on Friday this week. As per the 'T+3' listing rule, most Western Carriers India IPO listing date is 24th September 2024, i.e. on Tuesday next week.
Disclaimer: The views and recommendations expressed in this analysis are those of the individual analysts or broking companies and not of Mint. We strongly advise investors to seek advice from certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.