Western Carriers (India) Limited — Others, 14-05-2025: Monitoring Agency Report

Western Carriers (India) Limited has shared an update on the use of its IPO proceeds of Rs 492.88 Cr, with net funds of Rs 362.94 Cr mainly for debt repayment, capital expenditure on vehicles and equipment, and corporate purposes. So far, Rs 207.42 Cr has been deployed, including full debt repayment, Rs 19.34 Cr on assets, and Rs 24.58 Cr for corporate needs. Capital spending delays reflect ongoing evaluation of electric vehicle options. Remaining funds are parked in fixed deposits earning 7.5% and will be used as business needs arise over the next two years.