Premier Energies IPO Listing Today.
On the NSE, the Premier Energies IPO posted a 120 per cent gain to list at Rs 990 apiece.
Solar panel maker Premier Energies on Tuesday made a blockbuster stock market debut, posting a listing gain of 120.22 per cent to list at Rs 991 per share on the BSE as against the IPO issue price of Rs 450 apiece. On the NSE, the IPO posted a 120 per cent gain to list at Rs 990 apiece.
The initial public offering (IPO) of Premier Energies Ltd was opened between August 27 and August 29, 2024. The price band of the IPO was fixed at Rs 427-450 per share. The 2,830.4-crore IPO received a 75 times subscription, garnering bids for over 3,30,51,69,813 shares as against 4,41,06,533 shares on offer.
According to the latest data, the retail quota received a 7.35 times subscription, while the non-institutional investors category also got a 50.90 times subscription. The QIB category received a 212.42 times subscription on the first day of bidding.
The IPO was a fresh issue of up to Rs 1,291.4 crore and an offer-for-sale of up to 3,42,00,000 equity shares.
The proceeds from the fresh issue to the tune of Rs 968.6 crore will be allocated for investment in the company’s subsidiary, Premier Energies Global Environment Pvt Ltd, for part-financing the establishment of a 4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana, and the remaining funds will be used towards general corporate purposes.
Premier Energies is an integrated solar cell and solar module manufacturer with 29 years of experience and an annual installed capacity of 2 GW for solar cells and 4.13 GW for solar modules. It has five manufacturing facilities.
Kotak Mahindra Capital Company, J P Morgan India and ICICI Securities are the book-running lead managers to the offer.
