Upcoming IPO: Western Carriers (India) IPO to open for subscription on Sept 13; price band set at ₹163-172 apiece | Stock Market News
Source: Live Mint
Western Carriers (India) IPO price band: The Western Carriers (India) Limited IPO price band has been fixed in the range of ₹163 to ₹172 per equity share of the face value of ₹5. The Western Carriers (India) IPO date of subscription is scheduled for Friday, September 13, and will close on Wednesday, September 18. The allocation to anchor investors for the Western Carriers (India) IPO is scheduled to take place on Thursday, September 12.
The floor price and the cap price are 32.60 times and 34.40 times the face value of the equity shares, respectively. The price to earnings ratio based on diluted EPS for financial year 2024 for the company at the higher end of the price band is as high as 16.85 times and at the lower end of the price band is 15.96 times, according to company’s advertisement on the Financial Express. The Western Carriers (India) IPO lot size is 65 equity shares and in multiples of 65 equity shares thereafter.
Western Carriers (India) IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, Western Carriers (India) IPO basis of allotment of shares will be finalised on Thursday, September 19, and the company will initiate refunds on Friday, September 20, while the shares will be credited to the demat account of allottees on the same day following refund. Western Carriers (India) share price is likely to be listed on BSE and NSE on Monday, September 23.
