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

2 min read | Updated on September 03, 2024, 08:48 IST

SUMMARY

Premier Energies IPO was a fresh issuance of ₹1,291.4 crore and an offer-for-sale of 3.42 crore equity shares. Prior to the public issue, the company had raised ₹846 crore from anchor investors.

Premier Energies is a manufacturer of integrated solar cells and solar modules.

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.

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

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.

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

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

Premier Energies is a manufacturer of integrated solar cells and solar modules. It has five manufacturing facilities.

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

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

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

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

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About The Author

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

About Premier Energies

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