Western Carriers (India) IPO
Western Carriers (India) Limited (WCIL) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 24 September 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +4.6% (likely range +2% to +21%), day's high +5.8%, chance of a gain 80%. Actual: -0.6% at the open, +2.9% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 58,98,528 | 16,50,92,679 | 28.0x | |
| NII (HNI) total | 44,90,982 | 20,08,04,700 | 44.7x | |
| Big NII (above ₹10 lakh) | 29,93,988 | 11,93,45,817 | 39.9x | |
| Small NII (₹2-10 lakh) | 14,96,994 | 8,14,58,883 | 54.4x | |
| Retail | 1,04,78,957 | 27,19,56,519 | 26.0x | |
| Total | 2,08,68,467 | 63,78,53,898 | 30.6x |
Bids on NSE and BSE together, as published by NSE, as of 19 Sep 2024, 07:00 PM. Shares offered exclude the anchor portion. 38% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Western Carriers (India)'s, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| R K SwamyMar 2024 | 20.6x | 34.4x | 34.0x | 25.9x | ₹424 Cr | -13.2% | -1.1% |
| J G ChemicalsMar 2024 | 32.1x | 46.3x | 17.4x | 27.8x | ₹256 Cr | -5.4% | -3.3% |
| Jyoti CNC AutomationJan 2024 | 44.1x | 36.5x | 26.2x | 38.5x | ₹1,051 Cr | +11.8% | +34.1% |
| Dharmaj Crop GuardNov 2022 | 48.2x | 52.3x | 21.5x | 35.5x | ₹270 Cr | +12.3% | +17.7% |
| Tolins TyresSep 2024 | 25.4x | 27.4x | 21.5x | 23.9x | ₹242 Cr | +0.9% | +5.9% |
| India PesticidesJun 2021 | 42.9x | 51.9x | 11.3x | 29.0x | ₹817 Cr | +18.2% | +24.3% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| JM Financial | 109 | +22.8% | 75% |
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
Offer documents (NSE)
Frequently asked
What is the Western Carriers (India) IPO price band and lot size? ₹163–172 per share, with a lot of 87 shares, so the smallest retail bid is ₹14,964.
How many times has it been subscribed? 30.6x overall: QIB 28.0x, NII 44.7x, retail 26.0x.
How did it list? It opened at ₹171, -0.6% against the issue price of ₹172, and closed its first day -7.3%.
