Western Carriers India: Subscription Status, GMP, and More-Official IPO Details
The initial public offering of Western Carriers India Limited is set to open for bidding on 13th September 2024 and will close on 19th September 2024. The price band for an IPO has been set between Rs 163 and Rs 172 per equity share, and the company aims to raise Rs 492.88 crore through the issuance of a mix of fresh shares and an Offer for Sale. The issue is going to be listed on both the BSE and NSE, and early investor interest in the issue suggests that there will be very good demand for the same.
Grey Market Premium for Western Carriers India IPO
It has been three days since the biddings were opened, and optimism in the Western Carriers India IPO has increased in the grey market. At the moment, shares of the company are trading at an Rs 58 premium in the grey market. Grey Market Premium, which was initially Rs 30 on the first day of the bids, has improved sharply to this amount. The favorable conditions in the market and huge investor demand for the IPO can be the two major reasons that enable optimism for this IPO to grow in the grey markets.
Third Day Subscription Status
Up to 11:39 AM of the third day of bidding, the IPO of Western Carriers India has been booked 6.45 times. Much interest has been drawn towards the retail quota as it has fetched 9.59 times subscriptions while the NII segment is subscribed to 7.54 times and QIB at lower levels with a subscription rate at 0.03 times. These figures indicate strong demand within the retail and non-institutional investors, while the institutional investors are likely to have an increase in participation during the rest of the period in the selling process.
Analyst Views and Expert Comments on the IPO
It is an example of positive performance for the Western Carriers India IPO, and the enhancement of its financials and the creation of long-term strategic positioning in the rapidly growing Indian logistics market. Analysts pointed out an ability to maintain consistent profitability and sustainable growth against industry pressure presented before the company. Building up on operational efficiencies coupled with investment in technology, the company is well-poised for growing demands in the logistics industry.
The valuation of the IPO has also been found attractive since it provides conducive entry conditions for the investors. It is believed that the company’s fundamentals and growth capabilities make the IPO a good investment proposition. The reader is, however advised that they should research the investment and seek to understand their risk appetite before coming to a conclusion.
Comparison with Industry Peers
Analysts have also explained that the P/E of Western Carriers India’s IPO at the upper end of its price band is 16.8 times, which is rather low compared to its competitors in the sector. As the company holds strong financials, strategic projects to expand the rail-road multi-modal sector, and hence the recommendation has been positioned at least medium to long-term investment.
Timeline and Important Dates of the IPO
Public issue of Western Carriers India Limited opened on 13th September 2024 and will close by 19th September 2024. IPO allotment date is expected to be on 20th September 2024. According to the listing rule T+3, the shares of Western Carriers India are going to be listed on the stock exchanges on 24th September 2024.
The demand for the IPO of Western Carriers India was high, especially on the retail and non-institutional platforms. The strategy on technology, operational efficiency, and expansion within logistics has rendered this an attractive valuation by the company, hence making experts recommend its subscription for a medium to long-term investment horizon.
