Premier Roadlines IPO Listing
Premier Roadlines IPO Listing: The ₹40.36 crore IPO of Premier Roadlines was open for subscription from May 10-14. Today its shares have been listed.
Premier Roadlines IPO Listing: Shares of Premier Roadlines, which provides transport services, had a successful entry on the SME platform of NSE today. Its IPO received overall bids of more than 117 times.
Shares have been issued under the IPO at a price of Rs 67. Today it has entered NSE SME at Rs 87, which means IPO investors got a listing gain of 29.85 percent (Premier Roadlines Listing Gain).
After listing the shares went up further. It jumped and reached the upper circuit of Rs 91.35 (Premier Roadlines Share Price), that is, IPO investors are now in 36.34 percent profit.
Premier Roadlines IPO got strong response
Premier Roadlines' ₹40.36 crore IPO was open for subscription from May 10-14. This IPO received a tremendous response from investors and overall it was subscribed 117.57 times.
In this, the portion reserved for Qualified Institutional Buyers (QIB) was filled 89.95 times, the share for Non-Institutional Investors (NII) was 180.25 times and the share for retail investors was 106.50 times.
Under this IPO, 60.24 lakh new shares with face value of Rs 10 have been issued. The company will use the money raised through these shares to repay loans, purchase vehicles for commercial purposes, meet working capital requirements and for general corporate purposes.
About Premier Roadlines
Established in the year 2008, Premium Roadlines provides services related to transportation of goods ranging from 1 ton to 250 ton.
It transports goods not only within the country but also in neighboring countries like Nepal and Bhutan. Talking about the financial health of the company, it has continuously strengthened.
In the financial year 2021, it had a net profit of Rs 1.55 crore, which jumped to Rs 3.89 crore in the next financial year 2022 and to Rs 7.19 crore in the financial year 2023.
During this period, the company's revenue increased at a compound growth rate (CAGR) of more than 42 percent annually to Rs 192.06 crore.
Talking about the last financial year 2023-24, it has achieved net profit of Rs 8.75 crore and revenue of Rs 174.21 crore in 10 months.