Premier Roadlines Limited, founded in 2008, provides logistics solutions for businesses, particularly for surface transportation of items weighing between 1 MT and 250 MT. The company is preparing for its initial public offering (IPO), with intentions to raise INR 40.36 crores by issuing 60.24 lakh new shares.
Premier Roadlines Limited’s SME Initial Public Offering (IPO) price band is Rs 63 to Rs 67 per share. The company’s shares will be available for subscription on Friday, May 10, 2024, and close on Tuesday, May 14, 2024. These will be listed on the NSE SME, and the estimated listing date is Friday, May 17, 2024.
Hem Securities Limited is the book-running lead manager for the Premier Roadlines IPO, while Maashitla Securities Private Limited is the registrar.
The proceeds of the issue will be used to pre-pay, in whole or in part, certain borrowings made by the company, to purchase a vehicle for commercial purposes, to satisfy working capital requirements, and for general corporate reasons.
The Premier Roadlines IPO shares are expected to be alloted on Wednesday, May 15, 2024, and credited to the allottees’ demat accounts on Thursday, May 16, 2024. The IPO represents 50% of the net issue for QIB, 35% for retail investors, and 15% for the NII segment.
Retail investors must contribute a minimum of Rs 1.34 lakh, since the minimum lot size for an application is 2000 shares. For HNIs, the minimum bidding size is two lots, or 4000 shares, for a total investment of Rs 2.68 lakh in the top price range.
Premier Roadlines Limited’s revenue climbed by 38.48%, while profit after tax (PAT) increased by 84.89% during the fiscal years ending March 31, 2023 and March 31, 2022.
Premier Roadlines Limited provides logistics solutions for businesses, particularly for surface transportation of items weighing between 1 MT and 250 MT. The company provides project logistics, oversized/overweight cargo, and contract logistics services throughout India. The company serves B2B customers who need to move huge volumes of commodities throughout India as well as neighbouring countries such as Nepal and Bhutan.
Customers come from a variety of industries, including infrastructure, energy, power, oil and gas, mechanical engineering, construction, metallurgy, and renewable energy. The organisation is based in Delhi and operates 28 branches in Ahmedabad, Bengaluru, Chennai, Guwahati, Hyderabad, Kolkata, Mumbai, Nashik, and Pune, among others.
By: Namit Pandey
Disclaimer: This post is provided by an agency, our journalists were not involved in writing this article.