Premier Roadlines share price made a positive debut on NSE SME today. Premier Roadlines share price opened at ₹87, which is 30% higher than the issue price of ₹67.
Premier Roadlines IPO subscription period ran from Friday, May 10, until Tuesday, May 14. Premier Roadlines IPO price band was set between ₹63 and ₹67, with a face value of ₹10. Each lot in the Premier Roadlines IPO had 2,000 shares. Premier Roadlines IPO subscription status on the last day of bidding was 117.57 times, as per chittorgarh.com.
The company offers logistical solutions to enterprises, specialising in surface transportation of goods weighing one to 250 MT, according to the Red Herring Prospectus. The company is a goods transportation company that offers point-to-point services, meaning that goods are loaded at the client's location and delivered to the address the client specifies. In addition, they provide project logistics, over-dimensional/overweight freight movements, and basic transportation services to its Indian clients.
The Contract Logistics division of the organisation mostly caters to business-to-business (B2B) customers that have to move substantial amounts of goods between locations in India and nearby nations like Nepal, Bhutan, etc.
Premier Roadlines Limited's profit after tax (PAT) climbed by 84.89% between March 31, 2022 and March 31, 2023, while revenue increased by 38.48% over the same period.
Premier Roadlines IPO, which is worth about ₹40.36 crore, consists of a fresh issue of 6,024,000 equity shares with a face value of ₹10. There is no offer-for-sale component.
The firm plans to use the issue's proceeds for the following purposes: prepayment or repayment of some of the company's outstanding debt, either in full or in part; purchase of vehicle for commercial purposes, satisfaction of working cash needs, and general corporate reasons.
Maashitla Securities Private Limited is the registrar for the Premier Roadlines IPO, while Hem Securities Limited is the book running lead manager.
Premier Roadlines IPO GMP is +20. This indicates Premier Roadlines share price were trading at a premium of ₹20 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, Premier Roadlines IPO expected listing price was indicated at ₹87 apiece, which is 29.85% higher than the IPO price of ₹67.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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