Bookbuilding IPO | ₹2,830 Cr | Listed at BSE, NSE | Tue, Aug 27, 2024 - Thu, Aug 29, 2024
Premier Energies IPO is a book build issue of ₹2,830.40 crores. The issue is a combination of fresh issue of 2.87 crore shares aggregating to ₹1,291.68 crores and offer for sale of 3.42 crore shares aggregating to ₹1,538.72 crores.
Premier Energies IPO bidding started from Aug 27, 2024 and ended on Aug 29, 2024. The allotment for Premier Energies IPO was finalized on Aug 30, 2024. The shares got listed on BSE, NSE on Sep 3, 2024.
Premier Energies IPO price band is set at ₹450 per share. The lot size for an application is 33. The minimum amount of investment required by an retail is ₹14,850 (33 shares) (based on upper price). The lot size investment for sNII is 14 lots (462 shares), amounting to ₹2,07,900, and for bNII, it is 68 lots (2,244 shares), amounting to ₹10,09,800.
The issue includes a reservation of up to 2,33,644 shares for employees offered at a discount of ₹22.00 to the issue price.
Kotak Mahindra Capital Co.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Premier Energies IPO RHP for detailed Information.
IPO Open
Tue, Aug 27, 2024
IPO Close
Thu, Aug 29, 2024
Issue Price
₹450 per share
Market Cap (Pre-IPO)
₹20,284.33 Cr
| IPO Date | 27 to 29 Aug, 2024 |
| Listed on | Tue, Sep 3, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹427 to ₹450 |
| Issue Price | ₹450 per share |
| Lot Size | 33 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹22.00 |
| Total Issue Size | 6,29,09,200 shares (agg. up to ₹2,830 Cr) |
| Fresh Issue | 2,87,09,200 shares (agg. up to ₹1,292 Cr) |
| Offer for Sale | 3,42,00,000 shares of ₹1 (agg. up to ₹1,539 Cr) |
| Share Holding Pre Issue | 42,20,65,168 shares |
| Share Holding Post Issue | 45,07,62,945 shares |
| BSE Script Code / NSE Symbol | 544238 / PREMIERENE |
| ISIN | INE0BS701011 |
Premier Energies IPO offers total 6,29,09,200 shares. Out of which 3,13,37,777 (49.81%) allocated to QIB, 1,25,35,111 (19.93%) allocated to QIB (Ex- Anchor), 94,01,334 (14.94%) allocated to NII 2,19,36,445 (34.87%) allocated to RII and 1,88,02,666 (29.89%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 3,13,37,777 (49.81%) | NA |
| − Anchor Investor Shares Offered | 1,88,02,666 (29.89%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,25,35,111 (19.93%) | NA |
| NII (HNI) Shares Offered | 94,01,334 (14.94%) | NA |
| − bNII > ₹10L | 62,67,556 (9.96%) | 13,566 |
| − sNII < ₹10L | 31,33,778 (4.98%) | 6,783 |
| Retail Shares Offered | 2,19,36,445 (34.87%) | 6,64,740 |
| Employee Shares Offered | 2,33,644 (0.37%) | NA |
| Total Shares Offered | 6,29,09,200 (100.00%) |
Investors can bid for a minimum of 33 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 33 | ₹14,850 |
| Retail (Max) | 13 | 429 | ₹1,93,050 |
| S-HNI (Min) | 14 | 462 | ₹2,07,900 |
| S-HNI (Max) | 67 | 2,211 | ₹9,94,950 |
| B-HNI (Min) | 68 | 2,244 | ₹10,09,800 |
Premier Energies IPO raises ₹846.12 crore from anchor investors. Premier Energies IPO Anchor bid date is August 26, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Aug 26, 2024 |
| Shares Offered | 1,88,02,666 |
| Anchor Portion (₹ Cr.) | 846.12 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Sep 28, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Nov 27, 2024 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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 |
| Total Income | 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 Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Investment in our Subsidiary, Premier Energies Global Environment Private Limited for part-financing 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”); and | 968.60 |
| 2 | General corporate purposes. | 270.29 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 43.73% |
| ROCE | 25.65% |
| Debt/Equity | 1.86 |
| RoNW | 37.46% |
| PAT Margin | 7.30% |
| Price to Book Value | 30.76 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.48 | 17.58 |
| P/E (x) | 82.09 | 25.59 |
| Promoter Holding | 70.33% | 64.25% |
| Market Cap | ₹20,284.33 Cr. |
The Premier Energies IPO is subscribed 75 times on August 29, 2024 6:19:08 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 212.42 | 1,25,35,111 | 2,66,27,11,491 |
| NII | 50.98 | 94,01,333 | 47,93,11,569 |
| bNII (bids above ₹10L) | 58 | 62,67,555 | 36,34,93,053 |
| sNII (bids below ₹10L) | 36.96 | 31,33,778 | 11,58,18,516 |
| Retail | 7.44 | 2,19,36,444 | 16,32,27,669 |
| Employee | 11.32 | 2,33,644 | 26,44,191 |
| Total | 75 | 4,41,06,533 | 3,30,78,94,920 |
Total Application : 38,52,394
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs including underwriting commission, brokerage and selling commission, as applicable | 7.51 |
| 2 | Commission and processing fees for SCSBs (1)(2) and Bidding Charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs(3)(4)(5)(6) | 0.52 |
| 3 | Fees payable to the Registrar to the Offer | 0.09 |
| 4 | Other expenses: | |
| 5 | (i) Listing fees, SEBI filing fees, book building software fees, NSDL and CDSL fee and other regulatory expenses | 1.07 |
| 6 | (ii) Printing and stationery expenses | 0.15 |
| 7 | (iii) Fees payable to the Statutory Auditor, Independent Chartered Accountant, industry service provider, independent chartered engineer and ROC consultant | 0.56 |
| 8 | (iv) Advertising and marketing expenses for the Offer | 0.39 |
| 9 | (v) Fees payable to the legal counsels to the Offer | 0.53 |
| 10 | (vi) Miscellaneous | 0.69 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹450.00 | ₹450.00 |
| Open | ₹991.00 | ₹990.00 |
| Low | ₹801.60 | ₹802.10 |
| High | ₹993.45 | ₹994.55 |
| Last Trade | ₹839.65 | ₹839.90 |
Premier Energies IPO is a main-board IPO of 6,29,09,200 equity shares of the face value of ₹1 aggregating up to ₹2,830 Crores. The issue is priced at ₹450 per share. The minimum order quantity is 33.
The IPO opens on Tue, Aug 27, 2024, and closes on Thu, Aug 29, 2024.
Kfin Technologies Ltd. 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 Tue, Aug 27, 2024 and closes on Thu, Aug 29, 2024.
Premier Energies IPO lot size is 33, and the minimum amount required for application is ₹14,850.
You can apply in Premier Energies IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Mon, Sep 2, 2024. Check the Premier Energies IPO allotment status.
The Premier Energies IPO listing date is on Tue, Sep 3, 2024.
