The public offer is entirely a fresh issue of 60.24 lakh equity shares. The company’s shares will be listed on ‘Emerge’, the SME platform of the National Stock Exchange (NSE).
If you are waiting to invest money in IPO then this news is for you. The price range of Rs 63-67 per share has been fixed for the initial public offering (IPO) of logistics solutions company Premier Roadlines opening on May 10. According to language news, the company said in a statement on Tuesday that its IPO will open on Friday and close on May 14.
Company will raise Rs 40 crore
According to the news, Premier Roadlines plans to raise a little more than Rs 40 crore through this IPO. The company’s shares will be listed on ‘Emerge’, the SME platform of the National Stock Exchange (NSE). According to the draft documents related to the IPO, the public offering is entirely a fresh issue of 60.24 lakh equity shares.
Where will the money be used
The proceeds from the issue will be used to reduce debt taken by the company, purchase vehicles for commercial purposes, working capital needs and general company functioning. Established in 2008, Premier Roadlines Limited provides logistics solutions to companies. It works to transport goods weighing from one tonne to 250 tonnes through road transport.
Lot size for IPO
The lot size for the Premier Roadlines IPO is 2,000 shares. One has to apply for a minimum of 2,000 equity shares and thereafter apply for shares in multiples of 2,000. Shares for the Premier Roadlines IPO can be allotted on Wednesday, May 15 and the shares will be credited to the demat account of the allottees on May 16. The refund process will start from Thursday itself. Shares of Premier Roadlines are likely to be listed on NSE SME on Friday, May 17. Between March 31, 2022 and March 31, 2023, Premier Roadlines Ltd’s profit after tax grew by 84.89%. The company’s revenue increased by 38.48 percent.
