Western Carriers IPO opens for subscription. Should you bid for this Rs 492 cr issue?

Western Carriers IPO Day 1: Western Carriers' IPO opens for subscription, featuring a fresh equity sale of Rs 400 crore and an offer for sale by promoter Rajendra Sethia. The price band is set at Rs 163-172 per share. Analysts recommend it for high-risk investors due to financial challenges. Proceeds will repay borrowings and fund capital expenditure.