Multibagger Stock: Newly listed solar cell and module manufacturing company Premier Energies’ shares continue to be a favorite of investors. The company’s shares were listed on Tuesday, September 3, at a 120% premium. On the same day, the stock reached a new high of Rs 993.45. The listing price of the company’s shares was Rs 991 and its IPO price was Rs 450. That is, investors’ money more than doubled on the very first day. Even after this, there was a rise in it on Wednesday and today on Thursday, September 5, it rose by more than 12% to reach an intraday high of Rs 949.
what is the detail
Premier Energies Limited’s Rs 2,830 crore IPO was subscribed 74.09 times on the last day of bidding. On August 26, a day before the issue opened, Premier Energies raised Rs 846.12 crore through its anchor book. Anchor investors included global prominent names such as Nomura Funds, BlackRock Institutional Trust Company, PGGM World Equity, Government Pension Fund Global, Abu Dhabi Investment Authority, Neuberger Berman Investment Funds, Morgan Stanley, BNP Paribas, Pioneer Investment Fund, Eastspring Investments, Carmignac Portfolio and Allianz Global Investors Fund. The company’s IPO opened for investment on August 27 and investors could invest in the issue till August 29.
company business
Hyderabad-based company Premier Energies is an integrated solar cell and solar module manufacturer. It has 29 years of experience. It has an annual installed capacity of 2 GW for solar cells and 4.13 GW for solar modules.
