Premier Roadlines was incorporated on March 19, 2008. The company specializes in providing logistics solutions, focusing particularly on surface transportation of goods ranging from 1 MT to 250 MT. It operates as a goods transport agency offering general transport services, project logistics, and the movement of over-dimensional/overweight cargo on a pan-India basis. Premier Roadlines provides point-to-point services where goods are loaded directly from the customer's premises and delivered to a specified delivery point, as designated by the customer.
| Bidding Dates |
|---|
| 10 May 2024 - 14 May 2024 |
| Subscription |
|---|
| 109.35x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,26,000 | 1 | 1 | 2000 | 6.0 M | ₹63 - ₹67 | 73.65 % | ₹379.5 M - ₹403.6 M | RHP DOC |
Premier Roadlines IPO SUBSCRIPTION STATUS
14 May '24Premier Roadlines IPO overall subscription rate was 109.35 times the total available shares
Premier Roadlines IPO retail subscription rate was 141.48 times in the retail segment
Premier Roadlines IPO non-institutional investor subscription rate was 239.68 times in the non-institutional investor category
Premier Roadlines IPO Qualified Institutional Bidder subscription rate was 47.75 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
14 May 2024 (Day 3) | 141.48x | 239.68x | 47.75x |
13 May 2024 (Day 2) | 14.13x | 6.45x | 1.16x |
10 May 2024 (Day 1) | 1.02x | 0.77x | 0.83x |
Premier Roadlines FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 10MFY24 | 87.5 | 1,741.7 | 32.4 | 22.2 | 8.7% |
| FY23 | 71.9 | 1,919.3 | -38.3 | -103.3 | 6.7% |
| FY22 | 38.9 | 1,386.2 | 12.8 | 8.1 | 5.5% |
| FY21 | 15.5 | 938.3 | 24.3 | 6.7 | 4.5% |
Premier Roadlines IPO SUBSCRIPTION STATUS DETAILS
Premier Roadlines had 6.0 M shares on offer
Premier Roadlines IPO offer price was in the range ₹63 - ₹67
Premier Roadlines IPO minimum Investment was ₹126000
Premier Roadlines IPO issue size was ₹ 379.5 M - ₹ 403.6 M
Premier Roadlines had a minimum lot size of 2000 Shares per application
Premier Roadlines NUMBER OF SHARES ON OFFER
Premier Roadlines IPO IMPORTANT DATES
| Issue Open Date | 10 May 2024 |
| Issue close Date | 14 May 2024 |
| Allotment Date | 15 May 2024 |
| Refund Date | 16 May 2024 |
| Demat Account Credit Date | 16 May 2024 |
| Listing Date | 17 May 2024 |
| Listing on Exchange(s) | NSE |
| Premier Roadlines Allotment Status | Exchange |
Premier Roadlines IPO subscription opened on 10 May 2024, and closed on 14 May 2024
IPO allotment for Premier Roadlines was finalized on Wednesday, 15 May 2024
IPO listing for Premier Roadlines was on NSE on Friday, 17 May 2024
Premier Roadlines IPO LISTING GAINS
| Issue Price (adjusted) | 67.0 |
| Listing Open Price | 87.0 |
| Listing Close Price | 91.3 |
| Listing Gain% | 29.9% |
| Current Gain% | -34.4% |
Premier Roadlines Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Premier Roadlines Ltd. | 44 | 100.5 | 7.3 | -0.6 | 0.3 | 13.4 | 7.9 | 332.2 | 14.9 | 13.8 | -12.5 | 6 | -12.5 |
| Container Corporation of India Ltd. | 505.2 | 38476.9 | 31 | -7.3 | 4.2 | 9.6 | 8.2 | 9443.2 | 1.2 | 1241.8 | -3.6 | 16.3 | -4.2 |
| Delhivery Ltd. | 473.3 | 35452.8 | 379 | -7.2 | 3.2 | 1.6 | 1.2 | 10867 | 16 | 152.7 | -5.8 | 1.2 | -52.9 |
| Shadowfax Technologies Ltd. | 241.2 | 14120.3 | 83.5 | 3 | 6.4 | 3.9 | 4238.6 | 68.6 | 111.7 | 1638.4 | 2.9 | ||
| Blue Dart Express Ltd. | 5089.5 | 12076.3 | 42.1 | 2.7 | 1.9 | 13.9 | 6 | 6182.8 | 7.3 | 247.4 | -2 | 121 | 15.8 |
| VRL Logistics Ltd. | 281.4 | 4921.9 | 18.4 | 0.8 | 1.5 | 20.7 | 9.1 | 3244.8 | 1.8 | 236.8 | 29.5 | 15.3 | 21.8 |
Premier Roadlines INFORMATION ON IPO ISSUE
About Premier Roadlines
Premier Roadlines was incorporated on March 19, 2008. The company specializes in providing logistics solutions, focusing particularly on surface transportation of goods ranging from 1 MT to 250 MT. It operates as a goods transport agency offering general transport services, project logistics, and the movement of over-dimensional/overweight cargo on a pan-India basis. Premier Roadlines provides point-to-point services where goods are loaded directly from the customer's premises and delivered to a specified delivery point, as designated by the customer.
Object of the Issue
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company
- Purchase of vehicle for commercial purpose
- To meet working capital requirements
- General corporate purpose
Premier Roadlines - PROMOTERS
| Name |
|---|
| Virender Gupta |
| Rakhi Gupta |
| Samin Gupta |
Premier Roadlines Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Premier Roadlines Registrar to the issue
Maashitla Securities Private Limited
ipo@maashitla.com
Premier Roadlines Strengths
Diverse customer base
The company serves a large and diverse mix of end-market customers across several industry sectors, including infrastructure, energy, power, oil & gas, engineering, construction, and metallurgy
Assured quality services
The company has been accredited with several ISO certifications from QRO Certification Limited, demonstrating its commitment to quality and safety standards. These include ISO 9001:2015 for Quality Management Systems, ISO 14001:2015 for Environmental Management Systems, and ISO 45001:2018 for Occupational Health and Safety Management Systems
Wide transportation network
The company operates its logistics business through a widespread transportation network across India, managed from its registered and corporate office in Delhi. Additionally, it has 28 branch offices strategically located in various cities across the country to facilitate efficient logistics operations
Premier Roadlines Risks
Outstanding legal cases
The company is involved in certain outstanding legal cases related to issues such as income tax demands, TDS defaults, and other matters. Any adverse decision in these legal cases may negatively impact the company's business and financial condition
Highly competitive industry
The company operates in a highly competitive industry, and increased competition could lead to reduced revenues, lower profit margins, or a loss of market share
Negative cash flow
The company has experienced negative cash flow in recent fiscal years. Sustained negative cash flow could adversely impact its business, financial condition, and results of operations
IPO FAQs
The promoters of the company are Virender Gupta, Rakhi Gupta and Samin Gupta.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 63.0 - 67.0.
The IPO application opens on May 10, 2024 and closes on May 14, 2024.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 126,000.0, the maximum value for this IPO is Rs 134,000.0.
This IPO will be allotted on May 15, 2024.
The refund will be credited to your account on May 16, 2024.
The allotted shares will be credited to your demat on May 16, 2024.
Premier Roadlines Ltd.’s shares listed on the stock exchanges on May 17, 2024.