Premier Energies Limited IPO

NiftyTrader • August 22, 2024

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Premier Energies Limited IPO

Premier Energies Limited IPO opens on August 27, 2024, and closes on August 29, 2024. The allotment for the Premier Energies Limited IPO is anticipated to be completed on Friday, August 30, 2024. The IPO will be listed on the BSE and NSE, with a tentative date set for Tuesday, September 3, 2024.

The Premier Energies Limited IPO’s price band is Rs 427 to 450 per share. The IPO is a book-built issue of Rs 2,830.40 crores, an entirely new issue of 2.87 crores shares.

Premier Energies IPO Details

IPO Date	August 27, 2024 to August 29, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹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 ₹10 (aggregating up to ₹1,539.00 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre-issue	422,065,168
Shareholding post-issue	450,762,945
Employee Discount	Rs 22 per share

Premier Energies IPO Lot Size

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

Premier Energies IPO Objectives

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”):

General Corporate Purpose
Investment in the 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

About Premier Energies Limited

Premier Energies Limited, established in April 1995, is a leading manufacturer of integrated solar cells and solar panels, with a diverse product portfolio that includes solar modules, both mono facial and bifacial, as well as EPC and O&M solutions. The company operates five manufacturing units, all located in Hyderabad, Telangana, and serves a wide range of clients, including NTPC, TATA Power, Panasonic, and Sembcorp, among others. With a robust order book totaling ₹59,265.65 million as of July 31, 2024, the company has secured significant orders across non-DCR and DCR solar modules, solar cells, and EPC projects. Premier Energies exports its products to over 15 countries, including the United States, France, and Germany, and as of June 2024, employs 1,447 individuals along with 3,278 contract laborers.

Premier Energies Limited Financial Information

Period Ended	30 Jun 2024	21 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	3,735.5	3,554.13	2,110.69	1,341.49
Revenue	1,668.79	3,171.31	1,463.21	3,735.5
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	224.4	209.2
Total Borrowing	1,200.16	1,392.24	763.54	453.3
				Amount in ₹ Crore

Premier Energies IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50.00% of the Net offer
Retail Shares Offered	Not less than 35.00% of the Offer
NII (HNI) Shares Offered	Not less than 15.00% of the Offer

Premier Energies IPO Timeline

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
A 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