Premier Roadlines Limited IPO To Open On 10th May, Sets Price Band At Rs 63 to Rs 67 Per Share

The issue proceeds will be utilized in pre-payment, in full or part, of certain borrowings availed by the company, purchase of vehicle for commercial purposes, to meet working capital requirements and general corporate purposes.

On Wednesday, May 15, 2024, the shares for the Premier Roadlines IPO are anticipated to be allotted, and on Thursday, May 16, 2024, the shares will be credited to the demat account of the allottees. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment.

Retail investors need to contribute a minimum of Rs 1.34 lakh considering 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 at the upper price band.

Premier Roadlines Limited’s revenue increased by 38.48% and profit after tax (PAT) rose by 84.89% between the financial year ending with March 31, 2023 and March 31, 2022.

Premier Roadlines Limited offers logistics solutions for companies, especially for surface transportation of goods between 1 MT and 250 MT. The company offers project logistics,  oversized/overweight cargo and contracted logistics services across India. The company caters to B2B customers who need to transport large quantities of their goods from one place to another within India and to other neighboring countries like Nepal, Bhutan, etc.

The company’s customers come from sectors such as infrastructure, energy, electricity, oil and gas, mechanical engineering, construction, metallurgy, renewable energies, etc. The company is headquartered in Delhi and has 28 branches in Ahmedabad, Bengaluru, Chennai, Guwahati, Hyderabad, Kolkata, Mumbai, Nashik, Pune, etc.

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