Western Carriers India Limited (WCIL) debuted on the BSE today, listing at ₹171, slightly below its issue price of ₹172, marking a 0.58% decline. Investors who purchased one lot of shares at the IPO price saw a loss of ₹87, with an investment per lot costing ₹14,964.
The ₹492.88 crore IPO garnered strong interest, receiving 30.46 times subscription during its three-day bidding period. Non-institutional investors led the demand, with their portion subscribed 44.67 times. Qualified institutional buyers (QIBs) and retail investors also showed solid interest, with their portions subscribed 27.99 times and 25.77 times, respectively.
Western Carriers, a rail-focused, asset-light logistics firm, plans to use the IPO proceeds for debt repayment, funding capital expenditures, and general corporate purposes.
The company serves 1,647 customers across various sectors, including metals, mining, chemicals, FMCG, pharmaceuticals, and more. Some of its notable clients include Vedanta, Tata Steel, Hindalco, Coca-Cola India, and Cipla.
