Investors who applied for the shares of Western Carriers (India) Ltd. or WCIL through its initial public offering are likely to make 5.81% gains, as per the grey market premium trends.
Western Carriers will mark its debut on the NSE and the BSE on Sept. 24. A day before the listing, the GMP on the stock stood at Rs 10, InvestorGain shows. This indicates that the estimated listing price, which is the sum of GMP and the upper end of the IPO price band, is Rs 182 per share.
If the shares list at Rs 182 apiece, it would mark a premium of 5.8% as against the upper IPO price of Rs 172 per share. However, GMP is not an official price quote for the stock and is based on speculation.
The company had set the price band at Rs 163–172 per share for the IPO which closed on Sept. 19. It offered a fresh issue of Rs 400 crore and an offer for sale of shares worth Rs 92.9 crore.
Western Carriers IPO Subscription
The IPO has been subscribed 30.57 times.
Institutional investors: 27.99 times.
Non-institutional investors: 44.71 times.
Retail investors: 25.95 times.
WCIL is a rail-centric 4PL logistics company that operates with an asset-light model. It offers a customizable multi-modal logistics solution that includes road, rail, water, and air transportation, along with a variety of tailored value-added services.
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