IPO: Western Carriers files DRHP for public offer

Mumbai: Western Carriers (India), a multi-modal asset-light logistics company, has filed its draft red herring prospectus (DRHP) with market regulator Sebi to raise funds through an initial public offering (IPO).

According to the DRHP, the Kolkata-based logistics company’s IPO comprises a fresh issue of equity shares of up to ₹500 crore and an offer for sale of up to 93.29 lakh shares by promoter Rajendra Sethia.

The company proposes to utilise the net proceeds from the fresh issue towards prepayment of certain outstanding borrowings, capital expenditure funding, and general corporate purposes. JM Financial and Kotak Mahindra Capital are the book running lead managers to the offer.

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Top Trending Stocks: Sensex Today Live, SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Secular Times is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – seculartimes.com. The content will be deleted within 24 hours.

Leave a Comment