2024-08-29 22:21:35
Mumbai: The IPO of Premier Energies, a company that manufactures solar cells in India and exports them abroad, has opened for subscription today. The price band of this IPO has been fixed from Rs 427 to Rs 450. In this, investors will have to bid for at least 33 shares. Above this, bids will have to be made in multiples of the same. Investors will be able to bid in this till the day after tomorrow i.e. 29 August.
What is the company’s plan
Premier Energies wants to raise a total of ₹2,830.40 crore through this issue. For this, the company is issuing 28,697,777 fresh shares worth ₹1,291.40 crore. At the same time, the existing investors of the company are selling 34,200,000 shares worth ₹1,539 crore through Offer for Sale i.e. OFS.
What is price band
Premier Energies Limited has fixed the price band of this issue from ₹427 to ₹450. Retail investors can bid for a minimum of one lot i.e. 33 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹450, then you will have to invest ₹14,850 for it. Retail investors can apply for a maximum of 13 lots i.e. 429 shares. For this, investors will have to invest ₹193,050 as per the upper price band.
How much reservation for whom
50% of this public issue is reserved for qualified institutional buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).
What is the grey market premium?
Premier Earnings IPO is commanding a huge premium in the grey market. This morning, its price was being quoted at Rs 808 in the grey market. If its upper price band is considered as the price, then currently a premium of Rs 358 is being offered on each share. A day before this, its GMP was 74.67% i.e. ₹ 336 per share.
what the company does
Premier Energies Limited was established in April 1995. The company manufactures integrated solar cells and solar panels. The company’s product portfolio includes cells, solar modules, monofacial modules, bifacial modules, EPC solutions and O&M solutions. The company has 5 manufacturing facilities, all located in Telangana. The company also exports solar cells. The company’s customers include NTPC, Tata Power Solar Systems Limited, Panasonic Life Solutions Private Limited, Continuum, Shakti Pumps, First Energy, Bluepine Energies Private Limited, Luminous and Heartek Solar Private Limited. Where are the cells exported
Premier Energies sells its products in the country and exports them to the USA, Hong Kong, South Africa, Bangladesh, Norway, Nepal, France, Malaysia, Canada, Sri Lanka, Germany, Hungary, UAE, Uganda, Turkey, South Korea, China, Taiwan and the Philippines.