Western Carriers IPO subscribed over 30 times on the last day: Here’s how to check share allotment & more

Western Carriers IPO (Western Carriers India Limited IPO) share allotment status is expected to be finalised on Friday, September 20. The mainboard issue closed with a strong subscription on Thursday, September 19.

Western Carriers received bids for more than 63.22 crore shares against 2.08 crore shares offered for bidding, resulting in an overall subscription of 30.42 times. Non-institutional investors (NIIs) booked their quota 44.65 times, and the retail quota was booked 25.69 times. Qualified Institutional Buyers booked their segment 27.99 times.

Investors who participated in Western Carriers IPO subscription can check the share allotment status online on the websites of the issuing registrar, Link Intime India Private Ltd, BSE and NSE.

Steps to check Western Carriers IPO share allotment status on the NSE

• Open NSE IPO allotment status page: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login using username and password. You will have to create a new login if you are not registered on the NSE website.
• Choose Western Carriers India Limited from the drop-down menu for issue names.
• Verify your PAN details.
• Enter IPO application Number.
• Click submit and your allotment details will be shown on screen.

Investors can also check the Western Carriers IPO share allotment status on the BSE website using PAN, application number and bank details.

Here’s how to check Western Carriers IPO share allotment on the registrar's website

• Go to Link Intime India Pvt Ltd website (https://www.linkintime.co.in/)
• Click on Investor Services and select Public Issues
• Select Western Carriers India from the drop down menu for company names
• Enter either your application No, PAN, DP/Client ID or Account No / IFSC
• Submit to check allotment status

After finalising Western Carriers' share allotment status, the company will initiate refunds for non-allottees on Monday, September 23. Shares will also be credited to the Demat accounts of successful bidders the same day. Western Carriers shares are set to debut on the NSE and BSE on Tuesday, September 24.

Western Carriers IPO: Objective

The company plans to use the money raised via public issue to prepay or schedule re-payment of its outstanding borrowings. The company also plans to use a portion of the proceeds for funding of capital expenditure requirements of the company for purchase of commercial vehicles and for general corporate purposes.

Western Carriers IPO issue size and other key details

Western Carriers (India) IPO was a book-building issue worth ₹492.88 crore. The IPO consists of a fresh issue of 2.33 crore shares, amounting to ₹400 crore, and an offer-for-sale (OFS) of 54 lakh shares, aggregating ₹92.88 crore.

Western Carriers (India) IPO price band was been fixed at ₹163 to ₹172 per share. The minimum lot size for retail investors is at least a single lot consisting of 87 shares, which aggregates to an investment of ₹14,964.

About Western Carriers India Limited

Western Carriers India Limited, incorporated in March 2011, is a multi-modal logistics solutions provider encompassing road, rail, water, air transportation and a tailored range of value-added services. The company specialises in combining rail with road movements through an asset-light business model.