IPO Issue Details
Issue Price / Price Band₹450 per share (Fixed Price)
Face Value₹1 Per Share
Lot Size33 Shares per Lot
Total Issue Size6,29,09,200 shares (aggregating up to ₹2,830.40 Cr)
Issue TypeBookbuilding IPO
Sale Type / CategoryFresh Capital-cum-Offer for Sale
Exchange / PlatformNSE & BSE
IPO TypeMainboard
Subscription OpenTue, 27 Aug 2024
Subscription CloseThu, 29 Aug 2024
Anchor AllotmentMon, 26 Aug 2024
Basis of AllotmentFri, 30 Aug 2024
Initiation of RefundsMon, 02 Sep 2024
Credit of Shares to DematMon, 02 Sep 2024
Listing DateTue, 03 Sep 2024
UPI Mandate Deadline2024-08-29
Application & Investment Details
Retail — Min (1 Lots)₹14,850 — 33 shares
Retail — Max (13 Lots)₹193,050 (13 Lots)
HNI — Min (14 Lots)₹2,07,900 — 462 shares
EPS (Pre-IPO)₹5.48
EPS (Post-IPO)₹17.58
P/E Ratio (Pre-IPO)82.09x
P/E Ratio (Post-IPO)25.59x
Pre-IPO Promoter Holding42,20,65,168 shares
Post-IPO Promoter Holding45,07,62,945 shares
Fresh Issue Shares2,87,09,200 shares (aggregating up to ₹1,291.68 Cr)
Offer for Sale Shares3,42,00,000 shares of ₹1 (aggregating up to ₹1,538.72 Cr)
About Premier Energies Ltd.
Incorporated in April 1995, Premier Energies Limited manufactures integrated solar cell and solar panel. The company's product portfolio includes Cell, Solar Module, Monofacial modulesBifacial modules, EPC Solutions and O&M Solutions.The company has five manufacturing units, all of which are situated in Hyderabad, Telangana, India.The clientele of the company includes NTPC, TATA Power Solar Systems Limited, Panasonic Life Solutions Private Limited (“Panasonic”), Continuum, Shakti Pumps, First Energy, Bluepine Energies Private Limited, Luminous, Hartek Solar Private Limited (“Hartek”), Green Infra Wind Energy Limited (a subsidiary of Sembcorp Green Infra Limited), Madhav Infra Projects Limited (“Madhav”), SolarSquare Energy Private Limited (“SolarSquare”) and Axitec Energy India Private Limited (“Axitec”).As of July 31, 2024, the company had an order book of ?59,265.65 million. This total included ?16,091.14 million for non-DCR solar modules, ?22,140.60 million for DCR solar modules, ?18,911.18 million for solar cells, and ?2,122.72 million for EPC projects.The company has exported its products United States, Hong Kong, South Africa, Bangladesh, Norway, Nepal, France, Malaysia, Canada, Sri Lanka, Germany, Hungary, the United Arab Emirates, Uganda, Turkey, South Korea, China, Taiwan and Philippines.As of June 2024, the company had 1,447 employees and 3,278 Contract laborers.
Objects of the Issue
Premier Energies Ltd. proposes to utilise the net proceeds from the Issue for the following objects:
1
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
2
General corporate purposes
Shareholding & Lock-in
Pre-IPO Promoter Holding
42,20,65,168 shares
Post-IPO Promoter Holding
45,07,62,945 shares
Lock-in Period (30%)September 28, 2024
Lock-in Period (50%)November 27, 2024