Premier Energies Share Price Highlights: Stock settles 15.2% lower after bumper debut at 120% premium

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4 min read | Updated on September 03, 2024, 15:49 IST

SUMMARY

Premier Energies IPO Listing LIVE: The solar cell and module manufacturer's public offer consisted of a fresh issuance of shares worth ₹1,291.4 crore and an offer-for-sale (OFS) of up to 3,42,00,000 shares.

Premier Energies manufactures integrated solar cells and modules.

Premier Energies Share Price Live Update at 3:48 pm: Shares of solar cell and module manufacturer Premier Energies settled 15.2% lower at ₹838.9 on the NSE after debuting at a 120% premium.

Premier Energies Share Price Live Update at 3:01 pm: Price information

Current price: ₹843.4 (-14.8%)
Issue price: ₹990
High: ₹994.5
Low: ₹802.1

Premier Energies Share Price Live Update at 2:08 pm: The market capitalisation of the company stands at ₹36,616.4 crore. The shock is down 17.7% at ₹814.6 apiece on the NSE.

Premier Energies Share Price Live Update at 1:11 pm: After a robust debut, shares of Premier Energies were trading 18.6% lower at ₹805.7 apiece on the NSE.

Premier Energies Share Price Live Update at 12:24 pm: How the company plans to use the proceeds from the IPO

Proceeds from the fresh issue, totalling ₹968.6 crore, will be allocated for investment in the company's subsidiary, Premier Energies Global Environment Private Limited, to part-finance the establishment of a 4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana. The money will also be used for general corporate purposes.

Premier Energies Share Price Live Update at 12:07 pm: Shares of solar cell and module manufacturer were trading 12.9% lower at ₹861.6 on the NSE.

Premier Energies Share Price Live Update at 11:10 am: The market capitalisation of the company stands at ₹39,499.1 crore. The shock is down 11.4% at ₹876.2 apiece on the NSE.

Premier Energies Share Price Live Update at 10:22 am: Price information

Current price: ₹873.7 (-11.7%)
Issue price: ₹990
High: ₹994.5
Low: ₹860

Premier Energies Share Price Live Update at 10:22 am: Following a stellar D-street debut at a 120% premium, Premier Energies shares were trading 12.4% lower at 867 apiece on the NSE.

Premier Energies Share Price Live Update at 10:00 am: Premier Emergies shares made a bumper debut, listing at ₹990 on the National Stock Exchange. The stock opened at ₹991, up 120.2%, on the BSE.

Premier Energies IPO Listing Live Update at 9:35 am: Who are the clients of Premier Energies?

Some of its customers include Green Infra Wind Energy, TATA Power Solar Systems, Shakti Pumps, Panasonic, Continuum, Bluepine Energies, Luminous, Hartek, First Energy, Madhav Infra Projects, SolarSquare Energy and Axitec.

Premier Energies IPO Listing Live Update at 9:25 am: Category-wise subscription status

Category	Number of Times Subscription
Qualified Institutional Buyers (QIBs)	216.67
Non-institutional investors	49.76
Retail Individual Investors (RIIs)	7.25

Premier Energies IPO Listing Live Update at 9:15 am: Financials

Particulars	FY22	FY23	FY24	Q1FY25
Revenue	₹742 crore	₹1,428 crore	₹3,147 crore	₹1,657 crore
Net Profit/Loss	₹-14.4 crore	₹-13.3 crore	₹231 crore	₹198 crore

Premier Energies IPO Listing LIVE: Shares of solar cell and module manufacturer Premier Energies will be listed on the National Stock Exchange (NSE) and the BSE on Tuesday, September 3.

The ₹2,830.4-crore initial share sale was subscribed 74.09 times, receiving bids for 3,30,76,25,013 shares against 4,46,40,825 equity shares on offer.

The IPO, which was live from August 27 to August 29, had a price band of ₹427-₹450 per share.

The public offer was a fresh issuance of shares worth ₹1,291.4 crore and an offer-for-sale (OFS) of up to 3,42,00,000 shares.

Also Read: Upcoming IPOs: Five new IPOs to open for subscription, 10 listings scheduled; check full list

About Premier Energies

Premier Energies is an integrated solar cell and solar module manufacturer with 29 years of experience. Its annual installed capacity is 2 GW for solar cells and 4.13 GW for solar modules. It has five manufacturing facilities.

To know more about IPO listings and upcoming IPOs, click here.

About The Author

Kamal Joshi is a business journalist who covers industries, markets and IPOs. He is passionate about breaking news and enjoys playing tennis, where he loves flexing his backhand.

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Premier Energies Share Price Highlights: Stock settles 15.2% lower after bumper debut at 120% premium

About Premier Energies

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