Premier Energies' Rs 2831 crore IPO is opening!!!
Premier Energies' Rs 2831 crore IPO is opening!!!
Next week, Premier Energies Ltd, formerly known as Premier Solar Systems Pvt Ltd, is coming up with its IPO. Premier Energies' IPO will open on august 27 and close on august 29, 2024. The company is preparing to raise Rs 2831 crore through the IPO and the price band has been fixed at Rs 427 - 450 per share.
Rs 2831 crore IPO data-size
Premier Energies Limited will raise Rs 1291.4 crore in the IPO through fresh issue and is going to sell 34,200,000 equity shares through offer for sale. A total of 6,29,09,198 shares are being offered in the IPO. The data-face value of the share is Rs 1 and the issue data-size of the IPO is Rs 2752 - 2831 crore. Shares worth Rs 10 crore have been reserved for employees.
Price band of Rs 427 - 450
Premier Energies Limited has fixed a price band of Rs 427 - 450 and investors will be able to apply for the IPO in multiples of 33 shares. A discount of Rs 22 per share is being given to the employees. After the IPO, the market cap of the company will be Rs 20,285 crore as per the upper price band. The IPO will remain open from 27 to 29 august 2024. The basis of allotment will be decided on august 30. The funds will be unblocked with refund on september 2. Shares will be credited to the demat accounts of successful investors on september 2 and the IPO will be listed on the stock exchange on september 3.
The company is present in the solar cell business
Premier Energies is India's second largest integrated solar cell and solar module manufacturing company. The company was the largest solar cell exporter in the US market in the financial year 2023-24. The company exported solar cells worth $31.2 million to the US. The company has 5 manufacturing facilities in telangana Hyderabad and runs operations in india and overseas through 8 subsidiary companies. Premier Energies' customers include Tata Power Solar Systems, NTPC, Panasonic Life Solutions, shakti Pumps, madhav Infra Projects.