Western Carriers Raises Rs 400 Crore for Debt, Capital Expenditure
By Rediff Money Desk, Kolkata Sep 12, 2024 15:07
Western Carriers, a Kolkata-based logistics firm, plans to raise Rs 400 crore through a public issue to retire debt and fund capital expenditure plans. The company will also prepay a portion of outstanding borrowings and purchase commercial vehicles and specialized containers.
![Western Carriers Raises Rs 400 Crore for Debt, Capital Expenditure](https://im.rediff.com/money/2013/oct/04rs4.jpg)
Kolkata, Sep 12 (PTI) City-based logistics firm Western Carriers (India) Limited plans to raise Rs 400 crore through issue of fresh equity shares to retire a portion of debt and also to fund capital expenditure plans, a company statement said on Thursday.
Promoter Rajendra Sethia will also make an offer of sale (OFS) of his shareholding through the public issue.
The price band of the offer, which opens on September 13, has been fixed between Rs 163 to Rs 172 per equity share.
The statement said that the firm plans to prepay a portion of outstanding borrowings and also to fund capital expenditure plans of purchasing commercial vehicles and specialised containers.
Some portion of the proceeds of the fresh equity shares will also be expended towards general corporate purposes, the statement said.
Bids for anchor investor shall be open on September 12 and close on September 18. PTI dc
Promoter Rajendra Sethia will also make an offer of sale (OFS) of his shareholding through the public issue.
The price band of the offer, which opens on September 13, has been fixed between Rs 163 to Rs 172 per equity share.
The statement said that the firm plans to prepay a portion of outstanding borrowings and also to fund capital expenditure plans of purchasing commercial vehicles and specialised containers.
Some portion of the proceeds of the fresh equity shares will also be expended towards general corporate purposes, the statement said.
Bids for anchor investor shall be open on September 12 and close on September 18. PTI dc
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 13.53 (+ 2.97)
- 43341950
- GTL Infrastructure
- 2.58 ( -1.15)
- 30948547
- Suzlon Energy Ltd.
- 81.64 ( -0.38)
- 27607750
- Rajnish Wellness
- 3.34 ( -3.19)
- 24697355
- Srestha Finvest
- 1.81 (+ 0.56)
- 22617692
MORE NEWS
![Kerala: Ideal for...](https://im.rediff.com/80-80/money/2023/may/05medical-device.jpg)
Kerala: Ideal for Medical Devices Industry -...
Kerala Minister P Rajeeve highlights the state's conducive ecosystem for the medical...
![Singapore Govt...](https://im.rediff.com/80-80/money/2021/jun/23pnb-housing.jpg)
Singapore Govt Invests in PNB Housing Finance |...
Singapore government, Monetary Authority of Singapore and Goldman Sachs increased their...
![Embraer Eyes...](https://im.rediff.com/80-80/money/2023/jun/05aviation.jpg)
Embraer Eyes Indian Suppliers for Defense,...
Embraer, a Brazilian aircraft maker, is seeking suppliers from India for its defense,...