Logistics Firm Western Carriers Sets IPO Price Band at Rs 163-172/ Share

Leading logistics firm Western Carriers has set a price band of Rs 163-172 per share for its upcoming initial public offering (IPO).

The IPO, which is expected to raise up to Rs 825 crore, will open for subscription on August 17 and close on August 19.

The company plans to use the proceeds from the IPO to expand its fleet, invest in technology, and repay debt.

Western Carriers is one of the leading logistics firms in India, with a fleet of over 1,000 vehicles and a presence in over 20 states.

The company's revenue has grown by over 20% in each of the past three years, and it is expected to continue to grow at a healthy pace in the coming years.

The IPO is being managed by Axis Capital, ICICI Securities, and Kotak Mahindra Capital.

Here are some key details about the IPO:

• Price band: Rs 163-172 per share
• Issue size: Up to Rs 825 crore
• Open date: August 17, 2023
• Close date: August 19, 2023
• Lead managers: Axis Capital, ICICI Securities, and Kotak Mahindra Capital

Investors can apply for the IPO through their online trading accounts or through their brokers.

Western Carriers is a well-established and profitable company with a strong track record of growth.

The IPO is expected to be well-received by investors, and it is a good opportunity for investors to gain exposure to the growing logistics sector in India.