S&R Associates Represented Western Carriers In ₹4.92 Billion IPO

S&R Associates Represented Western Carriers In ₹4.92 Billion IPO

S&R Associates represented Western Carriers (India) Limited, a private multi-modal, rail focused, 4PL asset-light logistics company, and its promoter selling shareholder Rajendra Sethia in its INR 4.92 billion initial public offering.

Western Carriers (India) Limited is a multi-modal, rail-centric, 4PL asset-light logistics provider. The company offers a broad range of customizable logistics solutions, covering road, rail, water, and air transport, along with a suite of value-added services. It serves various sectors, including metals, FMCG, pharmaceuticals, chemicals, engineering, oil and gas, and retail.

The IPO was a book-built issue of ₹492.88 crores, comprising a fresh issue of 2.33 crore shares aggregating to ₹400.00 crores and an offer for sale of 0.54 crore shares aggregating to ₹92.88 crores.

Bidding for the Western Carriers (India) IPO commenced on September 13, 2024, and concluded on September 19, 2024. The allotment was finalized on Friday, September 20, 2024, and the shares were listed on BSE and NSE on September 24, 2024.

Jm Financial Limited and Kotak Mahindra Capital Company Limited acted as the Book-Running Lead Managers for the Western Carriers (India) IPO, with Link Intime India Private Ltd. serving as the Registrar for the issue.

The S&R team was led by Partners Juhi Singh, Jitesh Shahani, and Oishika Dasgupta, and included Associates Ishan Seth, Shiv Kumar Sharma, and Akshaya Rengan. They were also assisted by Associates Gunjeet Singh and Eashaan Agarwal.