Premier Energies IPO shares to list on September 3: All you need to know

Premier Energies shares will be listed on the stock exchanges- the BSE and the National Stock Exchange (NSE)- on Tuesday, September 3.

The ₹2,830.4-crore IPO was subscribed 74.09 times during the three-day trading window from August 27 to August 29. The initial share sale received bids for 3,30,76,25,013 equity shares against 4,46,40,825 shares on offer.

The IPO, which had a price band of ₹427 to ₹450 per share, was a fresh issuance of ₹1,291.4 crore and an offer-for-sale of 3.42 crore equity shares.

Prior to the IPO, the company had raised ₹846 crore from anchor investors.

The fresh IPO proceeds will be used to invest in a subsidiary, Premier Energies Global Environment Pvt Ltd, and part-finance the set-up of a 4 gigawatt (GW) solar photovoltaic (PV) TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing plant in Telangana.

About Premier Energies

Its customers include Luminous, Panasonic, Continuum, First Energy, Shakti Pumps, Bluepine Energies, Hartek, TATA Power Solar Systems, Green Infra Wind Energy, SolarSquare Energy, Axitec and Madhav Infra Projects. It had an order book of ₹5,926 crore as of July 31, 2024.

Premier Energies: Financials

ICICI Securities, JP Morgan India, and Kotak Mahindra Capital Company are the IPO's book-running lead managers.