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Premier Energies IPO is a book built issue of Rs 2,830.40 crores. The issue is a combination of fresh issue of 2.87 crore shares aggregating to Rs 1,291.40 crores and offer for sale of 3.42 crore shares aggregating to Rs 1,539.00 crores.
Premier Energies IPO bidding started from August 27, 2024 and ended on August 29, 2024. The allotment for Premier Energies IPO was finalized on Friday, August 30, 2024. The shares got listed on BSE, NSE on September 3, 2024.
Premier Energies IPO price band is set at ₹427 to ₹450 per share. The minimum lot size for an application is 33 Shares. The minimum amount of investment required by retail investors is ₹14,850. The minimum lot size investment for sNII is 14 lots (462 shares), amounting to ₹207,900, and for bNII, it is 68 lots (2,244 shares), amounting to ₹1,009,800.
The issue includes a reservation of up to 233,644 shares for employees offered at a discount of Rs 22 to the issue price.
Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and ICICI Securities Limited are the book running lead managers of the Premier Energies IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Premier Energies IPO RHP for detailed information.
| IPO Date | August 27, 2024 to August 29, 2024 |
| Listing Date | September 3, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹427 to ₹450 per share |
| Lot Size | 33 Shares |
| Total Issue Size | 62,897,777 shares (aggregating up to ₹2,830.40 Cr) |
| Fresh Issue | 28,697,777 shares (aggregating up to ₹1,291.40 Cr) |
| Offer for Sale | 34,200,000 shares of ₹1 (aggregating up to ₹1,539.00 Cr) |
| Employee Discount | Rs 22 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 422,065,168 |
| Share holding post issue | 450,762,945 |
Premier Energies IPO offers 6,29,09,199 shares. 1,25,35,111 (19.93%) to QIB, 94,01,333 (14.94%) to NII, 2,19,36,444 (34.87%) to RII, 2,33,644 (0.37%) to employees and 1,88,02,666 (29.89%) to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 1,88,02,666 (29.89%) | NA |
| QIB Shares Offered | 1,25,35,111 (19.93%) | NA |
| NII (HNI) Shares Offered | 94,01,333 (14.94%) | |
| bNII > ₹10L | 62,67,555 (9.96%) | 13,566 |
| sNII < ₹10L | 31,33,778 (4.98%) | 6,783 |
| Retail Shares Offered | 2,19,36,444 (34.87%) | 6,64,740 |
| Employee Shares Offered | 2,33,644 (0.37%) | NA |
| Total Shares Offered | 6,29,09,199 (100%) |
Premier Energies IPO raises Rs 846.12 crore from anchor investors. Premier Energies IPO Anchor bid date is August 26, 2024. Premier Energies IPO Anchor Investors list
| Bid Date | August 26, 2024 |
| Shares Offered | 18,802,666 |
| Anchor Portion Size (In Cr.) | 846.12 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 28, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 27, 2024 |
Premier Energies IPO opens on August 27, 2024, and closes on August 29, 2024.
| IPO Open Date | Tuesday, August 27, 2024 |
| IPO Close Date | Thursday, August 29, 2024 |
| Basis of Allotment | Friday, August 30, 2024 |
| Initiation of Refunds | Monday, September 2, 2024 |
| Credit of Shares to Demat | Monday, September 2, 2024 |
| Listing Date | Tuesday, September 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 29, 2024 |
Investors can bid for a minimum of 33 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 33 | ₹14,850 |
| Retail (Max) | 13 | 429 | ₹193,050 |
| S-HNI (Min) | 14 | 462 | ₹207,900 |
| S-HNI (Max) | 67 | 2,211 | ₹994,950 |
| B-HNI (Min) | 68 | 2,244 | ₹1,009,800 |
| Lot Size Calculator | |||
The promoters of the company are Surender Pal Singh Saluja and Chiranjeev Singh Saluja.
| Share Holding Pre Issue | 72.22% |
| Share Holding Post Issue | 66.03% |
Incorporated in April 1995, Premier Energies Limited manufactures integrated solar cell and solar panel. The company's product portfolio includes Cell, Solar Module, Monofacial modulesBifacial modules, EPC Solutions and O&M Solutions.
The company has five manufacturing units, all of which are situated in Hyderabad, Telangana, India.
The clientele of the company includes NTPC, TATA Power Solar Systems Limited, Panasonic Life Solutions Private Limited (“Panasonic”), Continuum, Shakti Pumps, First Energy, Bluepine Energies Private Limited, Luminous, Hartek Solar Private Limited (“Hartek”), Green Infra Wind Energy Limited (a subsidiary of Sembcorp Green Infra Limited), Madhav Infra Projects Limited (“Madhav”), SolarSquare Energy Private Limited (“SolarSquare”) and Axitec Energy India Private Limited (“Axitec”).
As of July 31, 2024, the company had an order book of ?59,265.65 million. This total included ?16,091.14 million for non-DCR solar modules, ?22,140.60 million for DCR solar modules, ?18,911.18 million for solar cells, and ?2,122.72 million for EPC projects.
The company has exported its products United States, Hong Kong, South Africa, Bangladesh, Norway, Nepal, France, Malaysia, Canada, Sri Lanka, Germany, Hungary, the United Arab Emirates, Uganda, Turkey, South Korea, China, Taiwan and Philippines.
As of June 2024, the company had 1,447 employees and 3,278 Contract laborers.
| Period Ended | 30 Jun 2024 | 21 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 3,735.50 | 3,554.13 | 2,110.69 | 1,341.49 |
| Revenue | 1,668.79 | 3,171.31 | 1,463.21 | 767.03 |
| Profit After Tax | 198.16 | 231.36 | -13.34 | -14.41 |
| Net Worth | 26.96 | 36.49 | -0.24 | -0.51 |
| Reserves and Surplus | 255.73 | 455.76 | 224.40 | 209.20 |
| Total Borrowing | 1,200.16 | 1,392.24 | 763.54 | 453.30 |
| Amount in ₹ Crore | ||||
The market capitalization of Premier Energies IPO is Rs 20284.33 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 43.73% |
| ROCE | 25.65% |
| Debt/Equity | 1.86 |
| RoNW | 37.46% |
| P/BV | 30.76 |
| PAT Margin (%) | 7.3 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.48 | 17.58 |
| P/E (x) | 82.09 | 25.59 |
The company proposes to utilize the net proceeds, being the gross proceeds of the Fresh Issue less the Offer related expenses (“Net Proceeds”), towards funding the following objects (collectively, the “Objects”):
[Dilip Davda] The company has indicated the likely trends in coming years based on its recent performance. Post planned expansion, it is poised for better prospects ahead. Based on FY25 annualized super earnings, the issue appears aggressively priced. It’s a pure long term story. Well informed investors may park funds for long term. Read detail review...
The Premier Energies IPO is subscribed 75.00 times on August 29, 2024 6:19:08 PM. The public issue subscribed 7.44 times in the retail category, 212.42 times in the QIB category, and 50.98 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 212.42 |
| NII | 50.98 |
| bNII (bids above ₹10L) | 58.00 |
| sNII (bids below ₹10L) | 36.96 |
| Retail | 7.44 |
| Employee | 11.32 |
| Total | 75.00 |
Total Application : 3,852,394 (5.80 times)
| Listing Date | September 3, 2024 |
| BSE Script Code | 544238 |
| NSE Symbol | PREMIERENE |
| ISIN | INE0BS701011 |
| Final Issue Price | ₹450 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹450.00 |
| ₹991.00 |
| ₹801.60 |
| ₹993.45 |
| ₹839.65 |
| NSE |
|---|
| ₹450.00 |
| ₹990.00 |
| ₹802.10 |
| ₹994.55 |
| ₹839.90 |
Premier Energies Limited
Plot No. 8/B/1 and 8/B/2, E- City
Maheshwaram Mandal, Raviryala Village
K.V. Rangareddy-501359
Phone: + 91 90 30994222
Email: investors@premierenergies.com
Website: https://www.premierenergies.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: pel.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Premier Energies IPO is a main-board IPO of 62,897,777 equity shares of the face value of ₹1 aggregating up to ₹2,830.40 Crores. The issue is priced at ₹427 to ₹450 per share. The minimum order quantity is 33 Shares.
The IPO opens on August 27, 2024, and closes on August 29, 2024.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Premier Energies IPO using UPI as a payment gateway. Zerodha customers can apply in Premier Energies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Premier Energies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Premier Energies IPO opens on August 27, 2024 and closes on August 29, 2024.
Premier Energies IPO lot size is 33 Shares, and the minimum amount required is ₹14,850.
You can apply in Premier Energies IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Premier Energies IPO will be done on Friday, August 30, 2024, and the allotted shares will be credited to your demat account by Monday, September 2, 2024. Check the Premier Energies IPO allotment status.
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