Premier Energies IPO Sees Strong Demand, Subscribed 74.14 Times on Final Day

Premier Energies’ Rs 2,830-crore IPO witnessed remarkable demand on the final day of bidding, with a subscription rate of 74.14 times the offer size.

IPO Overview

Subscription Details
On August 29, Premier Energies’ IPO received bids for 330.98 crore shares against the 4.46 crore shares on offer, resulting in an overall subscription rate of 74.14 times.

Fundraising Goals
The IPO aims to raise Rs 1,291.4 crore through a fresh issue and Rs 1,539 crore via an offer-for-sale (OFS). The price band for the issue is set between Rs 427 and Rs 450 per share.

Investor Participation

Qualified Institutional Buyers (QIBs)
Qualified institutional buyers (QIBs) led the subscription, taking up 216.67 times their allotted portion, showcasing strong confidence in Premier Energies’ growth prospects.

Retail Investors
Retail investors also showed substantial interest, subscribing 7.33 times their quota.

Employee Participation
Employees of Premier Energies subscribed 10.84 times their reserved portion, indicating strong internal confidence in the company’s future.

Non-Institutional Investors (NIIs)
Non-institutional investors subscribed to 49.81 times their reserved portion, further highlighting the widespread interest in the IPO.

Company Background

Premier Energies
Founded in April 1995, Premier Energies is a leader in integrated solar solutions, specializing in solar cells, monofacial and bifacial modules, and EPC and O&M services. The company operates five manufacturing facilities in Hyderabad, Telangana.

Use of Proceeds

Investment in Solar Manufacturing
Proceeds from the fresh issue will be used to fund Premier Energies Global Environment Private Limited, a subsidiary, in establishing a 4 GW Solar PV TOPCon Cell and Module manufacturing facility in Hyderabad.

General Corporate Purposes
A portion of the funds will also be allocated to general corporate purposes, ensuring the company’s continued growth and sustainability.

Upcoming Trading and Market Buzz

Listing on BSE and NSE
Trading of Premier Energies’ shares on the BSE and NSE is scheduled to begin on September 3.

Grey Market Premium
Ahead of the listing, the IPO shares are trading at an 88% premium over the upper price band in the grey market, reflecting strong market confidence in the company’s future prospects.