Premier Roadlines Ltd IPO Timeline

Premier Roadlines Ltd IPO opens on 10-May-2024, and closes on 14-May-2024. The Premier Roadlines Ltd IPO bid date is from 10-May-2024 to 14-May-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Premier Roadlines Ltd IPO Opening Date 10-May-2024
Premier Roadlines Ltd IPO Closing Date 14-May-2024
Basis of Allotment 15-May-2024
Initiation of Refunds 16-May-2024
Credit of Shares to Demat 16-May-2024
Premier Roadlines Ltd IPO Listing Date 17-May-2024

Premier Roadlines Ltd IPO Lot Size

Premier Roadlines Ltd IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or 134000).

Application Lots Shares Amount
Minimum 1 2000 ₹134000
Maximum 1 2000 ₹134000

Premier Roadlines Ltd IPO Details

Premier Roadlines Ltd IPO Date 10-May-2024 to 14-May-2024
Premier Roadlines Ltd IPO Face Value Shares of ₹10 per share
Premier Roadlines Ltd IPO Price ₹63 to ₹67 per share
Premier Roadlines Ltd IPO Lot Size 2000
Issue Size Shares of ₹10 (aggregating up to ₹40.36 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹40.36 Cr)
Offer for Sale -
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Virender Gupta, Rakhi Gupta, Samin Gupta.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Repayment and/or pre-payment in full or part of certain borrowings availed by the company
  • 2 Purchase of vehicle for commercial purposes
  • 3 To meet working capital requirements
  • 4 General corporate purposes

Company Financials

Premier Roadlines Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2023 74.11 192.06 7.18
03-2022 51.45 138.69 3.89
03-2021 45.79 94.16 1.55
Amount in ₹ Crore
  • Continue to develop cordial relationship with its Customers and Logistic Partners.
  • Enhancing Brand image and meeting quality standards.
  • Increase its goods transportation network across India.
  • Continue to serve more industries.
  • The company does not have its own fleet and are heavily dependent on third party service providers (i.e. Small Fleet Owners and Agents) to effectively carry on its logistics operations.
  • Disruptions or failures in its information technology systems including cyber risks may affect the company operations.
  • The company generate its major portion of revenue from its operations in certain geographical regions and any adverse developments affecting its operations in these regions could have an adverse impact on its revenue and results of operations.
  • Its business is dependent on the road network and the company's ability to utilize vehicles in an uninterrupted manner.
  • An inability to pass on any increase in operating expenses, particularly freight and transportation costs, to its customers may adversely affect the company's business and results of operations.
  • The Company may not be able to deliver the consignment on timely basis due to Breakdown, mishaps or accidents, because of which its could become liable to claims by the company customers, suffer adverse publicity and incur substantial cost as result of deficiency in its service which could adversely affect its results of operations.
  • The restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of the Company.
  • There are certain outstanding legal cases involving the Company in respect of outstanding income tax demand/TDS Defaults/others. Any adverse decision in these legal cases may have an adverse effect on its business and financial conditions.
  • The company does not own the Registered Office and most of the branch offices from which its carry out the company's business activities. In case of non-renewal of rent agreements or dispute in relation to use of the premises, its business and results of operations can be adversely affected.
  • Its failure to perform in accordance with the standards prescribed in its client contracts could result in loss of business or payment of penalties as per contract terms.
  • Its insurance coverage may not be adequate to protect the company against certain operating hazards and this may have a material adverse effect on its business and financial conditions.
  • The company operate in a highly competitive industry and increased competition may lead to a reduction in its revenues, reduced profit margins or a loss of market share.
  • There are certain discrepancies/errors noticed in some of its corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 1956/2013. Any penalty or action taken by any regulatory authorizes in future, for non-compliance with provisions of corporate or any other law could impact the financial position of the Company to that extent.
  • The company is exposed to the risk of delays or non-payment by its clients and other counterparties, which may also result in cash flow mismatches.
  • A notable portion of its revenue is from limited number of customers, the loss of such customers, the deterioration of their financial position or prospects, or a reduction in their demand for its products could affect the company's business, financial position and future prospects of the Company.
  • The company requires certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate its business, and the failure to obtain, retain and renew such approvals and licenses in timely manner or comply with such rules and regulations or at all may adversely affect its operations.
  • The Company had negative cash flow in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.
  • The company may not be able to adequately protect or continue to use its intellectual property.
  • If the company is unable to manage its growth effectively or if its estimates or assumptions used in developing the company strategic plan are inaccurate or the company is unable to execute its strategic plan effectively, the companay's business and prospects may be materially and adversely affected.
  • Adverse publicity regarding its service or company could negatively impact the company.
  • The company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
  • Its Contingent Liability and Commitments could affect the company financial position.
  • Any Penalty or demand raised by statutory authorities in future may adversely affect its financial position of the Company.
  • The company may face competition from a number of international and domestic third-party logistics companies, which may adversely affect its market position and business.
  • Some of its Group Companies and Promoter Group Entities operate in the same line of business as it, which may lead to conflict of interest.
  • Its operations are subject to high working capital requirements. its inability to maintain an optimal level of working capital required for its business may impact the company operations adversely.
  • Its success depends largely upon the services of the company's Directors, Promoters and other Key Managerial Personnel and its ability to attract and retain them. Demand for key managerial personnel in the industry is intense and its inability to attract and retain key managerial, may affect the business and operations of the Company.
  • The company cannot assure you that its will be able to secure adequate financing in the future on acceptable terms. Its failure to obtain sufficient financing could result in delay or abandonment of its business plans and this may have an adverse effect on the company growth and operations.
  • The company could be adversely affected by employee misconduct or errors including those of third party vendors from whom the company hire logistics services, that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
  • The company is engaged in the business of ODC, heavy lift transportation and project cargo. In case of non-identification of efficient method of transporting or not obtaining statutory permissions in this regard, its operations and profitability could be adversely affected.
  • The company has incurred substantial indebtedness which exposes it to various risks which may have an adverse effect on its business and results of operations.
  • The company has issued Equity Shares in the last 12 months at a price which could be lower than the Issue Price.
  • The average cost of acquisition of Equity Shares by its Promoters, are lower than the face value of Equity Share.
  • One of its Group Companies i.e. Premier Auto Finance Limited, was earlier listed on CSE, but currently the same is suspended from trading.
  • Excessive dependence on ICICI Bank Limited in respect of loan facilities obtained by the Company.
  • Its Promoters & Promoter Group will continue to retain majority shareholding in the Company after this Offer which will allow it to exercise significant influence over it.
  • Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by its major shareholders may adversely affect the trading price of its Equity Shares.
  • The Issue Price of its Equity Shares may not be indicative of the market price of the company Equity Shares after the Issue and the market price of its Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • Loan availed by the Company has been secured on personal guarantees of its Directors. The company's business, financial condition, results of operations, cash flows and prospects may be adversely affected in case of invocation of any personal guarantees provided by its Directors.
  • An inability to comply with repayment and other covenants in the financing agreements or otherwise meet its debt servicing obligations could adversely affect its business, financial condition, cash flows and credit rating.
  • The Company has taken unsecured loans that may be recalled by the lenders at any time and the Company may not have adequate working capital to make timely payments or at all.
  • The company is not able to guarantee the accuracy of third party information included in this Draft Red Herring Prospectus.
  • The company has not identified any alternate source of funding and hence any failure or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
  • Its proposed object for Purchase of vehicle for commercial purpose are subject to the risk of unanticipated delays in purchase and cost overruns.
  • The Objects of the Issue for which funds are being raised have not been appraised by any bank or financial institution. Any variation between the estimation and actual expenditure as estimated by the management could result in execution delays or influence its profitability adversely.
  • The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
  • Its ability to pay dividends in the future will depends upon the company's future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
  • Any future issuance of Equity Shares, convertible securities or other equity linked securities by it and any sale of Equity Shares by its significant shareholders may dilute your shareholding and adversely affect the trading price of the Equity Shares.
  • Certain key performance indicators for certain listed industry peers included in this Draft Red Herring Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.
  • The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
  • There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of National Stock Exchange of India Limited in a timely manner or at all.
  • QIBs and Non-Institutional Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid and Retail Individual Investors are not permitted to withdraw their Bids after Bid/Issue Closing Date.
  • Continue to develop cordial relationship with its Customers and Logistic Partners.
  • Enhancing Brand image and meeting quality standards.
  • Increase its goods transportation network across India.
  • Continue to serve more industries.

Premier Roadlines Ltd IPO Promoter Holding

Pre Issue Share Holding 79.30%
Post Issue Share Holding 58.41%

Premier Roadlines Ltd IPO Subscription Status (Bidding Detail)

The Premier Roadlines Ltd IPO is subscribed - times on May 14, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - -

Premier Roadlines Ltd IPO Prospectus

Premier Roadlines Ltd IPO Listing Date

Listing Date 17 May 24
BSE Script 92837
Listing In NSE - SME
IPO Price ₹67
Face Value ₹10

Premier Roadlines Ltd IPO Registrar

Maashitla Securities Pvt Ltd

Phone: +91-11-45121795

Premier Roadlines Ltd IPO Lead Manager(s)

  1. Hem Securities Ltd

FAQs on Premier Roadlines Ltd IPO

Premier Roadlines Ltd IPO, which opens for subscription from 10-May-2024 to 14-May-2024 has an issue size of ₹40.36 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Premier Roadlines Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Premier Roadlines Ltd IPO Opens for subscription from 10-May-2024 to 14-May-2024.

The lot size of Premier Roadlines Ltd is 2000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹134000 and ₹134000 respectively.

Allotment date for Premier Roadlines Ltd is 15-May-2024 and refund of application amount (in case allotment is not received) will begin from 16-May-2024. If your allotment goes through, then shares will be credited in your Demat account by 16-May-2024.

The registrar for Premier Roadlines Ltd IPO is Maashitla Securities Pvt Ltd. You can check your IPO allotment status on the registrar's website.

The shares of Premier Roadlines Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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