Premier Energies shares made a stellar debut on the bourses BSE and NSE today as the stock listed at a 120% premium. Premier Energies listed at Rs 990 on the NSE, a premium of Rs 540 or 120% against its issue price of Rs 450 per share. The IPO was subscribed by more than 74 times during the three-day bidding process between August 27-29.
Anchor investors injected Rs 846 crore into the company a day prior to the issue opening on August 27. The initial public offering (IPO) includes a fresh equity share issuance amounting to up to Rs 1,291.4 crore, along with an Offer for Sale (OFS) of up to 3.42 crore equity shares by existing shareholders, totaling approximately Rs 1,539 crore based on the upper price band of Rs 450.
As part of the OFS, South Asia Growth Fund II Holdings LLC (SAGF II) will sell 2.68 crore equity shares, South Asia EBT Trust will divest 1,72,800 shares, and promoter Chiranjeev Singh Saluja will offload 72 lakh shares.
Established in April 1995, Premier Energies Limited is a specialist in the production of integrated solar cells and solar panels. The company’s offerings include solar cells, solar modules, monofacial and bifacial modules, as well as EPC and O&M solutions. It operates five manufacturing facilities, all located in Hyderabad, Telangana, India.
