Western Carriers IPO Share Allocation: Here’s How to Check the Status

The allocation of shares Western Carriers IPO The transaction is likely to be finalized today. Investors will receive shares through a draw, and the entire process will be supervised by the registrar. On the allotment date, investors will learn how many shares they will be allocated compared to the bids made.

You can check the status of the allotment through the BSE or by visiting the registrar’s website. Here is how you can check the status on the BSE or even on the registrar’s website.

First, here’s how you can find out your BSE status

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

Step 2: Select the issue name i.e. the company name from the drop-down menu.

Step 3: Enter the application number or PAN number to check the allotment status. To check the status of Western Carriers IPO Award through the registrar, which is Link Intime India in this case, follow the steps below. 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 on search to know the status

Western carriers BPM

The company’s shares are expected to be listed on the stock exchanges on September 24. In the unlisted market, the company’s shares are trading at a GMP of Rs 25, which translates to a 15% premium over the issue price.

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

Western Carriers IPO subscription

Western Carriers’ initial public offering (IPO) received a strong response from investors with an overall subscription of 30.6 times at closing.

Proceeds from the new issue will be used to repay borrowings and finance capital expenditures for the purchase of commercial vehiclescontainers and stackers, with the remainder going to general corporate purposes.

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

Its pan-India presence enables it to provide both first and last mile connectivity to its customers having operations across India, even in remote areas.

As of March 31, 2024, the company had a customer base of 1,647 in sectors such as metals, FMCG, pharmaceuticals, chemicals and oil and gas. Key clients include: Tata Steel, Hindalco Industries, THEMand DHL.

The company’s consolidated revenue from operations increased 4% to Rs 1,686 crore in FY24. Profit after tax increased 12% to Rs 80.3 crore in the same period.

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