• Source:JND
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Premier Energies IPO Listing:  Solar panel maker Premier Energies shares made a blockbuster debut on the stock market on Tuesday, surging 120.22 percent to list at Rs 991 per share on BSE. The price band of the issue was Rs 450 each. The IPO is listed at a 120 percent profit margin of Rs 990 each on the NSE as well.

Premier Energeis IPO Details

Premier Energies Limited's initial public offering (IPO) was opened between August 27 and August 29, 2024. The company has set an IPO price band of Rs 427-450 per share. The Rs 2,830.4 crore IPO received massive interest from the investors as it was subscribed 75 times.

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Premier Energies IPO subscription status

According to the data, the quota reserved for retail investors was subscribed 7.35 times while the non-institutional investor category got a 50.90 times subscription. The QIB category received a 212.42 times subscription.

The IPO had a fresh issue of up to Rs 1,291.4 crore and an offer to sell 3,42,00,000 equity shares.

Proceeds of Rs 968.6 crore from this fresh issue will be allocated for partial financing of the installation of 4 GW solar PV topcon cells and 4 GW solar PV topcon in company subsidiary Premier Energies Global Environment Pvt Ltd in Hyderabad, Telangana Module manufacturing facilities, and the remaining funds will be used towards general corporate purposes.

Premier Energies is an integrated solar cell and solar module manufacturer with 29 years of experience and an annual installed capacity of 2 GW for solar cells and 4.13 GW for solar modules. It has five manufacturing facilities.

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