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 |
Key Performance Indicator
KPI as of March 31, 2024.
Premier Energies Promoter Holding
The promoters of the company are Surender Pal Singh Saluja and Chiranjeev Singh Saluja.
| KPI | Values |
| ROE | 43.73% |
| ROCE | 25.65% |
| RoNW | 1.86 |
| P/BV | 37.46% |
| PAT Margin (%) | 7.3 |
| Share Holding Pre-Issue | 72.22% |
| Share Holding Post Issue |
