Logistics company Western Carriers (India) on Thursday raised ₹148 crore from as many as 15 anchor investors ahead of its initial public offering (IPO), which is scheduled to open on Friday.
The Kolkata-based company wants to raise around ₹493 crore from its public offer.
Some of the marquee names from the anchor investors are Aditya Birla Sun Life Insurance, Kotak Mahindra Life Insurance, Motilal Oswal MF, Kotak MF, Aditya Birla Sun Life MF, BNP Paribas, Nippon India MF, Societe Generale and Citigroup Global.
The IPO includes a fresh issue of equity shares aggregating up to ₹400 crore and an offer for sale by promoter Rajendra Sethia, aggregating up to 54 lakh equity shares. The price band of the offer is Rs 163 to Rs 172 per equity share.
The company proposes to utilize net proceeds from the fresh issue towards prepayment or scheduled repayment of a portion of certain outstanding borrowings, funding of capital expenditure requirements and general corporate purposes.
JM Financial and Kotak Mahindra Capital are the book-running lead managers to the offer.