Premier Roadlines IPO allotment expected on May 15: Here's how to check allotment status online

Premier Roadlines Ltd IPO allotment is likely to be finalised on Wednesday, May 15, following an overwhelming response from investors during the subscription stage. The issue opened for public subscription on May 10 and closed on May 14.

Premier Roadlines, a logistics solutions provider, is looking to raise ₹40.36 crore from the IPO, which is entirely a fresh issue of 60.24 lakh shares.

With the IPO bidding over, the company is all set to finalise the basis of the allotment of shares and subsequently, successful applicants will be able to check the share allotment status through the NSE portal or the registrar website. Maashitla Securities Private Limited is serving as the registrar to the public issue.

Here's a step-by-step guide to check Premier Roadlines IPO allotment status on NSE:

• Complete the one-time registration process on NSE by providing your PAN details.
• Once registered, you will get an email notification.
• Visit the IPO status check page: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with the User ID and Password received.
• Enter PAN and bank account details.

The IPO share allocation details will appear on screen.

Steps to check Premier Roadlines Limited IPO allotment status on registrar portal:

• Visit Maashitla Securities official website - https://maashitla.com/
• Click the 'Allotment Status' tab on the home page.
• On the new page, click on 'Check Application Status'.
• Select company name as 'Premier Roadlines Limited' from the dropdown list.
• Enter any of these- PAN/Application Number/Demat Account Number.
• Hit the 'Submit' button.
• Allotment status will be shown on the screen.

Investors must remember that the allotment status will be shown only after the company finalizes the basis of the allotment of shares.

After the allotment of shares is over, the company will transfer shares to the Demat accounts of successful applicants on May 16 and issue refunds to non-allottees on the same day. Shares of the company will be listed on NSE SME platform with a tentative listing date fixed as May 17.

Premier Roadlines IPO details

Premier Roadlines fixed the price band for the IPO at ₹63 to ₹67 per share with a minimum lot size for an application at 2,000 shares.

Premier Roadlines Limited IPO was booked 117.57 times on the final day of bidding, with applications coming in for 47.09 crore against 40 lakh shares on offer.

Non-institutional investors booked their portion 180 times, sending bids for 15.46 crore against 8.58 lakh shares offered under the category. Retail investors bought their reserved portion 106 times, subscribing 21 crore shares against 20 lakh shares earmarked for them. Qualified institutional investors subscribed their portion 90 times, applying for 10.3 crore shares against 11.44 lakh shares on offer.

The company also raised ₹11.48 crore from anchor investors, allocating 17.14 lakh shares ahead of the IPO launch on May 9, 2024.