Western Carriers IPO Proceeds Monitoring Report Released

Western Carriers (India) Ltd has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, prepared by CRISIL Ratings Limited. The report, in accordance with SEBI regulations, details the utilization of proceeds raised through the company's Initial Public Offer (IPO). The IPO, which took place from September 13-19, 2024, raised Rs 4,928.80 million. The net proceeds after issue expenses amounted to Rs 3,629.38 million. The report confirms that the utilization of these funds is in line with the objects disclosed in the Offer Document, based on management undertakings, statutory auditor certificates, and bank statements. CRISIL Ratings has declared that there is no deviation from the IPO's stated objectives.