Premier Energies’ Rs 2830 crore IPO has a tremendous reaction from investors. On the last day of the issue, bids were received for 74 times the share on offer.
A total of 4.46 crore share was placed in the issue, however, bids were received for about 331 crore share. The QIB portion was subscribed 217 times, the retail investor’s portion more than 7 times while the employees’ portion was subscribed 11 times.
About 50 times the reserve portion has been received for NII. In the IPO, Rs 1291 crore is being raised through fresh issues, while the offer for sale is Rs 1539 crore.
How Can The Listing Be?
According to traders who keep an eye on the market, high returns are expected in the listing of the stock. The issue is trading at an 85 percent premium in the grey market.
A premium of 75 percent was expected in the last session. That is, there is hope of getting better returns with the response of investors.
The price band for the stock has been kept at 427 to 450 and the stock will be listed on September 3. According to the report, by August 30, it will be decided which shareholders have the stock.
If you have also participated in the issue, then you can check the status on the website of BSE and NSE or IPO Registrar after August 30. To do this, you need to utilize a PAN number an application number, or the demat account number.
What Does The Company Do
The company manufactures solar cells and solar modules. The company has operated in the industry for the past 29. The company does business through 5 manufacturing facilities in Hyderabad.
As per the data till July 2024, the order book of the company is Rs 5926.6 crore.
Quick Fact
Company name | Premier Energies
| Company name | Premier Energies |
|---|---|
| IPO Size | ₹2830 crore |
| Fresh Issue | ₹1291 crore |
| Offer for Sale | ₹1539 crore |
| IPO Subscription | 74 times |
| QIB Subscription | 217 times |
| Retail Subscription | 7 times |
| Employees’ Portion Subscription | 11 times |
| NII Subscription | 50 times |
| Grey Market Premium | 85 percent |
| Price Band | ₹427 to ₹450 |
| Listing Date | September 3 |
| Business | Solar cells and modules |
| Industry Presence | 29 years |
| Manufacturing Facilities | 5 in Hyderabad |
| Order Book (as of July 2024) | ₹5927 crore |
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