Logistics firm Western Carriers IPO subscribed 79 pc on first day of offer

Western Carriers (India) Ltd’s IPO achieved a 79% subscription rate on its opening day. The Rs 493-crore offer includes a fresh issue of equity shares worth Rs 400 crore and an offer for sale valued at Rs 93 crore. Proceeds will address debt repayment and capital expenditures, targeting sectors like metals, FMCG, and pharmaceuticals.