Premier Energies IPO Allotment Finalized

The allotment for the Premier Energies IPO has been completed, and investors can now check their status on the BSE and NSE websites, as well as on Kfin Technologies' portal. The IPO is set to list on Tuesday, september 3, and investors are expected to see a substantial gain, with a potential listing gain of over 90% according to the latest Grey Market Premium (GMP). Here’s how to check your IPO allotment status and the current GMP details:

How to Check IPO Allotment Status:

1. Visit the BSE Website: Go to BSE IPO Status.
2. Select ‘Equity’: Choose 'Equity' under 'Issue Type'.
3. Choose ‘Premier Energies Ltd’: Select this option from the 'Issue Name' dropdown menu.
4. Enter Details: Input your application number or PAN.
5. Verify and Search: Click on ‘I am not a robot’ to complete the verification and then hit ‘Search’.

Alternatively, you can check your allotment status on the Link Intime portal.

Premier Energies IPO GMP:

As of today, Premier Energies Ltd shares are trading at a Rs 420 premium in the grey market, bringing the current price to Rs 870 compared to the issue price of Rs 450. This suggests a potential listing gain of approximately 93.33%. The GMP reflects market sentiment and can fluctuate based on investor demand.

IPO Details:

• Offer Period: august 27 to august 29, 2024.
• Price Band: Rs 427-450 per share.
• Subscription: The IPO was oversubscribed by 74.94 times, with bids received for 330,51,69,813 shares against 4,41,06,533 shares on offer. The retail quota saw a subscription rate of 7.35 times, non-institutional investors' category received 50.90 times subscription, and the Qualified Institutional Buyers (QIB) category was subscribed 212.42 times on the first day.

IPO Composition:

• Issue Type: Fresh issue of up to Rs 1,291.4 crore and an offer-for-sale of up to 34,20,000 equity shares.
• Use of Proceeds: Rs 968.6 crore from the fresh issue will be invested in Premier Energies Global Environment Pvt Ltd for setting up a 4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad. The remaining funds will be used for general corporate purposes.

Premier Energies is a well-established player in the solar industry, with 29 years of experience and an installed annual capacity of 2 GW for solar cells and 4.13 GW for solar modules. The IPO is managed by mahindra BANK' target='_blank' title='kotak mahindra-Latest Updates, Photos, Videos are a click away, CLICK NOW">kotak mahindra Capital Company, J.P. Morgan India, and ICICI Securities.