Western Carriers IPO Sees Strong Initial Day with 79% Subscription

Western Carriers (India) Ltd's IPO garnered a 79% subscription on its first day of subscription. The Rs 493-crore offer attracted bids for 1,64,59,269 shares against the 2,08,68,467 shares available. The IPO features a fresh equity issue worth Rs 400 crore and an OFS totaling Rs 93 crore.

The initial public offering (IPO) of Western Carriers (India) Ltd achieved 79% subscription on its first day, according to NSE data released on Friday.

The logistics company's Rs 493-crore IPO saw bids for 1,64,59,269 shares out of the 2,08,68,467 shares available. Retail Individual Investors (RIIs) subscribed 1.41 times, while non-institutional investors subscribed 38% of their quota.

On Thursday, the Kolkata-based company announced it had secured Rs 148 crore from anchor investors. The IPO, priced between Rs 163 to Rs 172 per share, includes a fresh issue worth Rs 400 crore and an offer for sale of 54 lakh shares valued at Rs 93 crore by promoter Rajendra Sethia.

(With inputs from agencies.)