New Delhi: Logistics firm Western Carriers (India) on Thursday said it has mobilized Rs 148 crore from anchor investors a day before the initial opening of share sale for public subscription.
Aditya Birla Sun Life Insurance Company, Kotak Mahindra Life Insurance Company, Motilal Oswal Mutual Fund (MF), Kotak MF, Aditya Birla Sun Life MF, Nippon India MF, BNP Paribas, Societe Generale and Citigroup Global Markets Mauritius are among the anchor investors .
According to a circular uploaded on the BSE website, the company has allotted 85.97 lakh shares to 15 funds at Rs 172 each, which is also the upper end of the price band. This adds the transaction size to Rs 148 crore.
Of the total allocation of 85.97 lakh equity shares to anchor investors, 39.93 lakh equity shares were allocated to 4 domestic mutual funds, which have applied through a total of 6 schemes.
The Kolkata-based company's Rs 493 crore initial public offering (IPO) will be available for public subscription from September 13 to 18 in the price range of Rs 163 to Rs 172 per share.
The IPO comprises a fresh issue of shares, aggregating up to Rs 400 crore and an offer for sale (OFS) of up to 54 lakh shares worth Rs 93 crore, at the upper end of the price band of the promoter Rajendra Sethia.
Proceeds from the fresh issue to the tune of Rs 163.5 crore will be utilized for debt repayment, Rs 152 crore to fund capital expenditure requirements for the purchase of commercial vehicles, shipping containers and stackers, and the remaining funds for general corporate purposes.
The company said investors can bid for a minimum of 87 shares and multiples thereof.
Western Carriers is India's leading private, multi-modal, rail-centric, asset-light logistics company with a customer base of 1,647 across various sectors such as metals & mining, consumer goods, pharmaceuticals, construction materials, chemicals, oil and gas, and utilities. to March 2024.
Some of its 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.
As of FY2024, the company's operating income was Rs 1,685 crore, with a profit after tax (PAT) of Rs 80 crore.
JM Financial and Kotak Mahindra Capital Company are the lead managers of the issue. The shares are proposed to be listed on the BSE and NSE.
Aditya Birla Sun Life Insurance Company, Kotak Mahindra Life Insurance Company, Motilal Oswal Mutual Fund (MF), Kotak MF, Aditya Birla Sun Life MF, Nippon India MF, BNP Paribas, Societe Generale and Citigroup Global Markets Mauritius are among the anchor investors .
According to a circular uploaded on the BSE website, the company has allotted 85.97 lakh shares to 15 funds at Rs 172 each, which is also the upper end of the price band. This adds the transaction size to Rs 148 crore.
Of the total allocation of 85.97 lakh equity shares to anchor investors, 39.93 lakh equity shares were allocated to 4 domestic mutual funds, which have applied through a total of 6 schemes.
The Kolkata-based company's Rs 493 crore initial public offering (IPO) will be available for public subscription from September 13 to 18 in the price range of Rs 163 to Rs 172 per share.
The IPO comprises a fresh issue of shares, aggregating up to Rs 400 crore and an offer for sale (OFS) of up to 54 lakh shares worth Rs 93 crore, at the upper end of the price band of the promoter Rajendra Sethia.
Proceeds from the fresh issue to the tune of Rs 163.5 crore will be utilized for debt repayment, Rs 152 crore to fund capital expenditure requirements for the purchase of commercial vehicles, shipping containers and stackers, and the remaining funds for general corporate purposes.
The company said investors can bid for a minimum of 87 shares and multiples thereof.
Western Carriers is India's leading private, multi-modal, rail-centric, asset-light logistics company with a customer base of 1,647 across various sectors such as metals & mining, consumer goods, pharmaceuticals, construction materials, chemicals, oil and gas, and utilities. to March 2024.
Some of its 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.
As of FY2024, the company's operating income was Rs 1,685 crore, with a profit after tax (PAT) of Rs 80 crore.
JM Financial and Kotak Mahindra Capital Company are the lead managers of the issue. The shares are proposed to be listed on the BSE and NSE.
