Premier Energies IPO: Check out Important Details

• Premier Energies IPO is a book-built issue of Rs 2,830.40 crores.
• This upcoming IPO bidding opens on August 27 and closes on August 29, 2024.
• Premier Energies's IPO price is set at Rs 427 - Rs 450 per share.
• The least investment amount required for retail investors is Rs 14,850.

Premier Energies IPO: Synopsis

Premier Energies is open for subscription from Tuesday, August 27, 2024, and closing on Thursday, August 29, 2024. The price band for this IPO is set to Rs 427 – Rs 450 per share.

Premier Energies is a 100% book-built public issue. The company is offering a fresh issue of 2.86 crore of equity shares amounting up to Rs 1,291.40 crore and an offer for sale of 3.42 crore of equity shares amounting up to Rs 1,539 crore; this aggregates to a total size of 62.89 crore of equity shares amounting up to Rs 2,830.40 crore.

The allotment for this new IPO is expected to be finalised on Friday, August 30, 2024. This IPO will be listed on the NSE and BSE exchanges on Tuesday, September 3, 2024.

The IPO is managed by Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and ICICI Securities Limited which is book running the lead manager of this IPO. The company has appointed Kfin Technologies Limited as the registrar for the issue.

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Premier Energies Limited: About the Company

Premier Energies Limited, incorporated in April 1995, specializes in manufacturing integrated solar cells and solar panels. The company's diverse product portfolio includes cells, solar modules, monofacial and bifacial modules, EPC solutions, and O&M solutions.

Headquartered in Hyderabad, Telangana, India, Premier Energies operates five manufacturing units. The company serves various clients, including major players like NTPC, TATA Power Solar, Panasonic, and Luminous.

As of July 31, 2024, Premier Energies had an order book valued at ₹59,265.65 million, with exports to 19 countries. The company employs 1,447 staff and 3,278 contract labourers as of June 2024.

Premier Energies IPO: Objectives

The company plans to utilize the funding, which are the gross proceeds from the Fresh Issue minus the Offer-related expenses (“Net Proceeds”), to fund the following objectives (collectively, the “Objects”). The primary focus will be on investing in the subsidiary, Premier Energies Global Environment Private Limited, to partially finance the establishment of a 4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana, India (the “Project”). Additionally, a portion of the funds will be allocated for general corporate purposes.

Premier Energies IPO: Other Important Details

Time-Table of Premier Energies IPO

Premier Energies IPO: Financial Metrics (Amt in Rs Crore)

Minimum Investment: Lot Size Details

Promoters of Premier Energies Limited and Their Holdings

Surender Pal Singh Saluja and Chiranjeev Singh Saluja are the promoter(s) of the company. They collectively held 72.22% of the company's shares. However, post-IPO, the change in his shareholding will be 66.03%.

Premier Energies: Strength of Company

1.   Established in 1995, Premier Energies has nearly three decades of industry experience.

2.   The company offers a diverse product portfolio, including solar cells, modules, and EPC solutions.

3.   Premier Energies serves a prestigious clientele, including NTPC, TATA Power Solar Systems, and Panasonic.

4.       The company has a strong global presence, exporting products to 19 countries across multiple continents.

FAQs

1.       What are the core details available for Premier Energies's IPO?

Premier Energies IPO is a book-built issue of Rs 2,830.40 crore. This upcoming IPO offering a fresh issue of 2.86 crore equity shares and offer for sale of 3.42 crore of equity share. The allotment for this new IPO is expected to be finalised on Friday, August 30, 2024.

2.       How can I apply for the Premier Energies IPO?

The public subscription of this new IPO opens on Tuesday, August 27 and closes on Thursday, August 29, 2024. Click here to initiate the application process.

3.       Who are the lead managers for the Premier Energies IPO?

Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and ICICI Securities Limited were appointed as the book-running lead managers for this IPO.

4.       Who is appointed as the registrar for this IPO?

Kfin Technologies Limited has been appointed as the registrar for this public issue.

5.       How can I check the allotment status of the IPO?

Investors who applied for IPO can check the allotment status of Premier Energies Limited by visiting here, for further updates, follow Bigul.

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