Western Carriers IPO allotment status likely on Sep 20: Steps to check online, latest GMP and other key details

Western Carriers IPO allotment status check today: Check date and time of Western Carriers shares allocation

Western Carriers (India) Ltd shares are likely to be allotted to successful bidders on September 20, Friday. The bidding for public subscription concluded with 63.78 crore shares as against 2.08 crore on offer. The Rs 493-crore Western Carriers (India) IPO earlier mobilised Rs 148 crore from anchor investors.

The initial public offer of logistics company garnered 30.57 times subscription on the final day of bidding on Thursday. The Kolkata-based company's initial public offering (IPO) is in the price range of Rs 163-172 per share.

Those who subscribed to the issue can check their allotment status on the official website of the registrar, Link Intime India Private Limited.

Step 1: Open the direct link to the registrar on this URL: https://linkintime.co.in/initial_offer/

Step 2: Select the company from the dropdown menu.

Step 3: You check your allotment status by filling in details like PAN, Application number or DP client ID.

Step 4: Press the Submit button

Step 5: Your allotment status will be shown in the window.

Step 1: Open the website of Bombay Stock Exchange (BSE).

Step 2: Click on 'Investors' option.

Step 3: On the 'Investor Services' dropdown, click on 'Status of Issue Application'.

Step 4: Click on 'Application Status Check'.

Step 5: Select Equity in the issue type.

Step 6: Fill in the required details including the 'Issue Name'.

Step 7: Enter your PAN number and click on Search to view the status

Western Carriers shares are commanding a GMP in the price range of Rs 20 in the unlisted market, according to platforms that track the grey market premium activities. Western Carriers shares are proposed to be listed on September 24.

The IPO consists of a fresh issue of equity shares worth up to Rs 400 crore, along with an offer-for-sale (OFS) of up to 54 lakh equity shares valued at Rs 93 crore, at the higher end of the price band, by promoter Rajendra Sethia.

The funds raised from the fresh issue will be used for various purposes, including Rs 163.5 crore for debt repayment, Rs 152 crore for capital expenditure on the purchase of commercial vehicles, shipping containers, and reach stackers, with the remainder allocated for general corporate needs.

Western Carriers, India's top private multimodal, rail-focused, asset-light logistics company, serves 1,647 customers across sectors such as metals and mining, FMCG, pharmaceuticals, building materials, chemicals, oil and gas, and utilities as of March 2024.

Key clients include Tata Steel, Hindalco Industries, Vedanta, BALCO, HUL, Coca-Cola India, Tata Consumer Products, Wagh Bakri, Cipla, Haldia Petrochemicals, and Gujarat Heavy Chemicals, among others.