PREMIER ENERGIES LIMITED

27 Aug 2024 - 29 Aug 2024 Individual Category Main Board BSE NSE

Min Investment

₹14850

Price Band

₹427-₹450

Issue Size

446.41 lakhs
Equity Shares

Lot Size

33

IPO Dates
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27 Aug 2024

Open Date

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29 Aug 2024

Close Date

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30 Aug 2024

Allotment Date

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03 Sep 2024

Listing Date

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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About Premier Energies Limited

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.

Founded

1995

Managing Director

Surender Pal Singh Saluja and Chiranjeev Singh Saluja

Parent Organization

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.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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