Premier Energies Limited IPO And Its GMP IPO Details
| Detail | Description |
|---|---|
| IPO Date | August 27, 2024 to August 29, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 427 to ₹ 450 per share |
| Lot Size | 33 Shares |
| Total Issue Size | 6,28,97,777 shares (aggregating up to ₹ 2,830.40 Cr) |
| Fresh Issue | 2,86,97,777 shares (aggregating up to ₹ 1,291.40 Cr) |
| Offer for Sale | 3,42,00,000 shares of ₹10 (aggregating up to ₹ 1,539.00 Cr) |
| Employee Discount | Rs 22 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 42,20,65,168 |
| Shareholding post issue | 45,07,62,945 |
About Premier Energies Limited IPO And Its GMP
Premier Energies Limited has 29 years of experience in the solar industry and during this time, they have grown to become India’s second-largest integrated solar cell and solar module manufacturer with an annual installed capacity of 2 GW and 3.36 GW, respectively, as of March 31, 2024. With only solar cells, they are also the second-largest domestic manufacturer in terms of annual installed capacity as of March 31, 2024.
Their business operations include:
(i) The manufacturing of solar photovoltaic (“PV”) cells.
(ii) The manufacturing of solar modules including custom-made panels for specific applications.
(iii) The execution of EPC projects.
(iv) Independent power production.
(v) O&M services concerning EPC projects executed by our Company.
(vi) The sale of other solar-related products.
Total Issue Size: ₹2,830.40 crores
• Fresh Issue: 2.87 crore shares, totalling ₹1,291.40 crores
• Offer for Sale (OFS): 3.42 crore shares, totalling ₹1,539.00 crores
Subscription Dates: Opens on August 27, 2024, and closes on August 29, 2024.
Price Band: ₹427 to ₹450 per share.
Minimum Lot Size: 33 shares.
Book Running Lead Managers:
• Kotak Mahindra Capital Company Limited
• J.P. Morgan India Private Limited
• ICICI Securities Limited
Premier Energies IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Objectives of Premier Energies IPO
-
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 objectives:
- • 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”).
- • General Corporate Purpose.
Dindigul Farm Product IPO Review
The company is engaged in the business of manufacturing and marketing cotton yarns of various counts. It posted growth in the top lines for the reported periods but marked inconsistency in its bottom lines. Based on FY24 super earnings, the issue appears to be aggressively priced. The offer document has many anomalies and missing information. There is no harm in skipping this “High Risk/Low Return” bet.
Premier Energies Limited IPO And Its GMP Financial Information
Latest Revenue
1,668.79
₹ Crore
Profit After Tax
198.16
₹ Crore
Net Worth
26.96
₹ Crore
Total Borrowing
1,200.16
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 June 2024 | 3,735.5 | 1,668.79 | 198.16 | 26.96 | 1,200.16 | ||||
| 21 Mar 2024 | 3,554.13 | 3,171.31 | 231.36 | 36.49 | 1,392.24 | ||||
| 31 Mar 2023 | 2,110.69 | 1,463.21 | -13.34 | -0.24 | 763.54 | ||||
| 31 Mar 2022 | 1,341.49 | 3,735.5 | -14.41 | -0.51 | 453.3 | ||||
| Amount in ₹ Crore | |||||||||
IPO Estimated Listing Return
Based on the IPO Price of ₹450 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹485, and a lot size of 33 shares.
Premier Energies Limited IPO And Its GMP GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-09-02 | ₹450 | ₹485.0 (108%) | 2024-09-02 |
Premier Energies Limited IPO And Its GMP Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 43.73% |
| ROCE | 25.65% |
| Debt/Equity | 1.86 |
| RoNW | 37.46% |
| P/BV | 30.76 |
| PAT Margin (%) | 7.3 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.48 | 17.58 |
| P/E (x) | 82.09 | 25.59 |
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Competitive Strengths
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Premier Energies Limited IPO And Its GMP IPO Timeline
| 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 |
| 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid 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 |