Western Carriers files DRHP for Rs 5 billion IPO

Western Carriers (India) Limited, a Kolkata-based logistics company, has filed a draft red herring prospectus with the Securities and Ex­chan­ge Board of India for an IPO of up to Rs 5 billion. The IPO will consist of a fre­sh issue of equity shares aggregating up to Rs 5 billion and an offer for sale (OFS) of up to 9.33 million shares by the promoter. The issue pri­ce has not yet been fixed. The proceeds from the IPO will be used to prepay debt, fund capital expenditure and for general corporate purposes. A pre-IPO placement of up to Rs 1 billion could be considered. If such a placement is completed, the fresh issue size will be reduced.