Premier Energies IPO Allotment Details: Date, Price, Review, and Key Information

Premier Energies IPO, is here with its subscription period opening on August 27 and closing on August 29, and is expected to be listed on Indian stock exchanges next week. The IPO is expected to be listed on the BSE and NSE with a tentative listing date set for Tuesday, September 3. Premier Energy’s IPO was oversubscribed 4.38 times with a total of 332.02 million ordinary shares being bid against an offer size of 4.46 billion shares. The price band for Premier Energies’ IPO was ₹427-450 per share. The company has raised ₹2,830 crores through the IPO, which includes a fresh issue of 2,870 million shares totaling ₹1,291.40 crores and an offer for sale of 3,420 million shares totaling ₹1,539 crores.  Kotak Mahindra Capital, JPMorgan India, and ICICI Securities are acting as book-running managers for Premier Energy’s IPO, while Kfin Technologies Limited is acting as the IPO registrar. Premier Energies is a leading provider of integrated solar cell and module manufacturing, demonstrating impressive growth and strong financial performance over its 29-year history. The company’s valuation is reasonable compared to its peers, hence most analysts recommend subscribing to the stock.

Premier Energies IPO Details

Premier Energies IPO Market Lot-

Premier Energies IPO Dates:

• IPO Open Date: Tuesday, August 27, 2024
• IPO Close Date: Thursday, August 29, 2024
• Basis of Allotment: Friday, August 30, 2024
• Initiation of Refunds: Monday, September 2, 2024
• Credit of Shares to Demat: Monday, September 2, 2024
• Listing Date: Tuesday, September 3, 2024

ABOUT- Premier Energies:

Premier Energies was established in April 1995, Premier. This is a leading manufacturer of integrated solar cells and photovoltaic modules. The company’s diversified product portfolio includes solar cells, and mono and bifacial solar modules along with comprehensive EPC (Engineering, Procurement, Construction) and O&M (Operation and Maintenance) solutions. Premier Energies is headquartered in Hyderabad, Telangana, India, and operates five state-of-the-art manufacturing units across the region. Premier Energies serves a wide range of reputed clients including NTPC, TATA Power Solar Systems Limited, Panasonic Life Solutions Private Limited, Continuum, Shakti Pumps, and First Energy. The company’s robust order book stands at EUR 59,265.65 million as of July 31, 2024, which includes orders for non-DCR solar modules, DCR solar modules, solar cells, and EPC projects.  Premier Energies has established a significant presence globally and exports its products to countries across Europe, Asia, Africa, etc. As of June 2024, the company has 1,447 employees and 3,278 contract employees, strengthening its position as a leading player in the renewable energy sector.

Premier Energies Financial Performance (in ₹ Crores).

Premier Energies IPO Valuation (FY2023):

• EPS: ₹57.96 per Equity Share
• P/E Ratio: N/A (not yet listed)
• RoNW: 23.48
• NAV: ₹246.82 per Equity Share

Premier Energies Peer Group

• Websol Energy System Limited is the sole listed firm that Premier Energies Limited views as one of its peers.

Company Promoters:

• Surender Pal Singh Saluja and Chiranjeev Singh Saluja are the company’s promoters.

Lead Managers of Premier Energies

• Kotak Mahindra Capital Company Limited,
• J.P. Morgan India Private Limited and
• ICICI Securities Limited

Premier Energies IPO Company Address-

Premier Energies Limited

Plot No. 8/B/1 and 8/B/2, E- City
Maheshwaram Mandal, Raviryala Village
K.V. Rangareddy-501359
Phone: + 91 90 30994222
Email: investors@premierenergies.com
Website: https://www.premierenergies.com/

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