Premier Energies Limited is set to launch its Initial Public Offering (IPO) from August 27, 2024, to August 29, 2024. The IPO aims to raise a total of ₹2,830.40 crore, consisting of a fresh issue of ₹1,291.40 crore and an offer for sale (OFS) amounting to ₹1,539.00 crore. The price band for the IPO is fixed between ₹427.00 and ₹450.00 per share, with a minimum lot size of 33 shares, requiring a minimum investment of ₹14,850.
IPO Details
- IPO Opening Date: August 27, 2024
- IPO Closing Date: August 29, 2024
- Issue Size: ₹2,830.40 crore
- Fresh Issue: ₹1,291.40 crore
- Offer for Sale: ₹1,539.00 crore
- Price Band: ₹427.00 – ₹450.00 per share
- Minimum Lot Size: 33 shares
- Listing Date: September 3, 2024
- Stock Exchanges: BSE and NSE
The IPO is categorized as a book-built issue, and the retail portion is set at not less than 35% of the total offer. The allotment date is scheduled for August 30, 2024, and the shares will be credited to successful applicants’ accounts on the listing date.
Company Overview
Premier Energies is recognized as one of India’s largest integrated solar cell and module manufacturers. The company has an annual installed capacity of 2 GW for solar cells and 3.36 GW for solar modules. Premier Energies operates across the entire value chain of solar power, which includes engineering, procurement, and construction (EPC) solutions, as well as solar facility operation and maintenance.The company is strategically positioned to benefit from the increasing demand for sustainable energy in India, driven by government initiatives and a growing emphasis on renewable sources. Premier Energies plans to utilize the proceeds from the IPO to invest in its subsidiary, Premier Energies Global Environment Private Limited, specifically for establishing a 4 GW Solar PV TOPCon Cell and Module manufacturing facility in Hyderabad, Telangana.
Financial Performance
As of June 30, 2024, Premier Energies reported the following financial metrics:
- Total Assets: ₹3,735.50 crore
- Revenue: ₹1,668.79 crore
- Profit After Tax: ₹198.16 crore
- Net Worth: ₹26.96 crore
The company’s financial performance indicates a significant increase in revenue compared to previous periods, although it has experienced fluctuations in profit margins. For instance, the profit after tax for the year ending March 31, 2024, was ₹231.36 crore, while the previous year showed a loss.
Grey Market Premium (GMP)
As of the latest updates, the expected grey market premium (GMP) for Premier Energies shares ranges between ₹270 and ₹280, indicating a potential listing gain of approximately 60% over the upper price band of the IPO. However, it is important to note that GMP figures are speculative and can fluctuate based on market conditions leading up to the listing date.
Disclaimer
The information provided in this article about the Premier Energies IPO is for informational purposes only and should not be considered as investment advice. The analysis and opinions expressed are based on publicly available data at the time of writing and may not reflect the most current developments or market conditions.
Investors are advised to conduct their own research and consult with a qualified financial advisor before making any investment decisions. Past performance of the company is not indicative of future results, and investing in the stock market involves risks, including the potential loss of principal.
The article does not guarantee the accuracy, completeness or reliability of the information. The author and the publication do not accept any liability for any loss or damage arising from the use of this information.
