Premier Energies IPO: Premier Energies’ IPO was listed on the stock market today on Tuesday. The company’s shares had a great start on BSE and NSE. Premier Energies’ shares were listed at Rs 990 on NSE. This is 120 percent more than the IPO price of Rs 450. At the same time, this share was listed at Rs 991 on BSE. This was 120.22 percent more than the issue price. However, after this, the company’s shares are seeing profit booking and the stock fell by about 12% intraday.
There was a tremendous response
The ₹2,830.40 crore initial public offering (IPO) of leading solar cell and module manufacturer Premier Energies was open for subscription from August 27, 2024 to August 29, 2024. It had a price band set between ₹427 and ₹450 per share. Premier Energies had raised ₹846 crore from anchor investors ahead of the IPO launch. The issue received strong subscription during the 3 days of bidding and was bid 75 times overall. The issue received bids for 332.78 crore equity shares against the offer of 4.41 crore shares. The retail category was subscribed 7.44 times while the quota for non-institutional investors was subscribed 50.98 times. The qualified institutional buyers (QIB) portion received a subscription of 212.42 times, and the employee portion was subscribed 11.32 times.
Kotak Mahindra Capital Company Limited, JPMorgan India Private Limited, and ICICI Securities Limited acted as the book-running lead managers for the Premier Energy IPO, with KFin Technologies Limited acting as the registrar to the offer.
company business
Let us tell you that Premier Energy Limited, established in April 1995, is a major player in the solar energy industry. It specializes in the manufacturing of integrated solar cells and panels. The company’s diverse product range includes both monofacial and bifacial solar modules along with EPC (engineering, procurement and construction) and O&M (operation and maintenance) services. Premier Energy operates five state-of-the-art manufacturing facilities in Hyderabad and Telangana.