Premier Roadlines shares list at 30% premium over issue price
shares of Premier Roadlines listed on the NSE SME platform on Friday with a premium of 30%. The stock debuted at Rs 87 as against an issue price of Rs 67 apiece.
Ahead of the listing, the company's shares traded with a premium of Rs 15 in the unlisted market.
The IPO, which was completely a fresh equity issue of 60.24 lakh shares, received a healthy response from investors with an overall subscription of over 100 times at close.
The net proceeds from the public offer will be used for repayment of debt, purchase of vehicles for commercial purposes, working capital requirements and other general corporate purposes
Premier Roadlines is engaged in providing logistics solutions to businesses, particularly surface transportation of goods ranging from 1 MT to 250 MT.
It is a goods transport agency providing general transport services, project logistics, and over dimensional/overweight cargo movements on a Pan India basis to customers.
The company offers point to point services in which the goods are loaded from the premises of the customer and are delivered to the delivery point as specified by them.
It mainly serves B2B customers under the contract logistics division, who have a requirement to transport bulk quantities of their goods from one place to another within India and other neighboring countries like Nepal, Bhutan etc.
The logistics sector in India was valued at $250 billion in 2021, with the market predicted to increase to an astounding $380 billion by 2025, at a healthy 10%-12% year-on-year growth rate.
