Western Carriers (India) Ltd., a multi-modal, rail-focused, 4PL asset-light logistics firm, has filed a draft red-herring prospectus (DRHP) with SEBI to boost funds by way of an preliminary public providing (IPO).
The firm operates on an asset-light enterprise mannequin which allows it to offer differentiated 3PL and 4PL options.
According to the draft red-herring prospectus, the IPO of the Kolkata-based logistics firm contains recent subject of fairness shares aggregating as much as ₹500 crore and a proposal for sale of as much as 93,28,995 fairness shares by Rajendra Sethia, promoter.
The firm proposes to utilise the online proceeds from the recent subject in the direction of prepayment or scheduled compensation of a portion of sure excellent borrowings of ₹200 crore; funding of capital expenditure necessities of ₹186 crore in the direction of buy of economic automobiles; 40 toes specialised containers and 20 toes regular delivery containers; and attain stackers, and stability in the direction of basic company functions.
The firm, in session with the ebook operating lead managers, could undertake a Pre-IPO placement, for money consideration aggregating as much as ₹100 crore previous to the submitting of the RHP.
If the Pre-IPO placement is accomplished, the recent subject measurement shall be decreased to the extent of such Pre-IPO placement.
As of fiscal 2022, the corporate’s income from operations was ₹1,470 crore, with a PAT of ₹61 crore. The fairness shares are proposed to be listed on BSE and NSE.
