Tata Steel and Western Carriers IPO Allotment Status: A Complete Guide
Tata Steel and Western Carriers IPO Allotment Overview
The share allotment process for Western Carriers IPO is expected to be completed today, with investors able to receive their shares based on a lottery system. This process is overseen by the registrar, ensuring transparency and efficiency.
How to Check Your Allotment Status
- Checking Via BSE:
- Visit the BSE website.
- Select Western Carriers from the drop-down menu.
- Enter your application number or PAN number to access allotment details.
- Checking Via Registrar:
- Access the Link Intime India website.
- Choose the Western Carriers IPO option.
- Provide your PAN details and click search.
Western Carriers GMP and Subscription Performance
The company’s shares have a GMP of Rs 25, reflecting a 15% premium over the issue price. This is an encouraging sign for investors as the shares are expected to be listed on September 24.
The Western Carriers IPO received an overwhelming subscription rate of 30.6 times, highlighting strong investor interest.
Utilization of IPO Proceeds
Funds raised will be allocated to repay debt, finance the acquisition of commercial vehicles, and cover general corporate expenses. The company also boasts a customer base of 1,647, including major players like Tata Steel, Hindalco Industries, and HUL.
Company Performance Metrics
As of FY24, Western Carriers reported a consolidated revenue growth of 4%, totaling Rs 1686 crore, with a profit after tax increase of 12% to Rs 80.3 crore.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.