Premier Energies IPO subscription, GMP, price, listing: The IPO market is booming like never before with a huge amount of liquidity chasing a seemingly endless number of freshly issued shares. Also benefitting from the IPO windfall is Premier Energies IPO, whose subscription has rocketed as soon as it opened for business and it has already been fully booked. In fact, on the first day itself the Telangana-based Premier Energies IPO was overbooked 2 times.
Sebi warning
However, even as this is happening, market watchdog Sebi has posted a warning about earlier IPOs yesterday. Warning about quality issues with these IPOs, Sebi said,“Such companies/promoters have been seen to make public announcements that create a positive picture of their operations. These announcements are typically followed up with various corporate actions such as bonus issues, stock splits, preferential allotments, etc”
IPO details
Having said that, Premier Energies IPO price band is Rs 427-450 and investors have to bid for a minimum of 33 shares and multiples thereof. IPO size is Rs 2,830.40 crore. The IPO has a fresh share sale component of Rs 1,291.40 crore. The offer-for-sale (OFS) component is 3.42 crore equity shares. Today, Thursday, August 29 is the last day of bidding.
Premier Energies IPO GMP today
Premier Energies IPO grey market premium has been climbing since August 22 when it was being quoted at Rs 280. Premier Energies IPO GMP today, has been reported at Rs 396. At a price band of Rs 450 (Upper end), the estimated Premier Energies IPO listing price is Rs 846, according to InvestorGain. The estimated Premier Energies IPO listing gain has been pegged at 88%.
Premier Energies IPO subscription status
Premier Energies IPO has been subscribed 6.72 times by day 2 with retail investors component subscribed 4.37 times, QIB 1.37 times and NII 19.35 times.
Premier Energies IPO allocation
Premier Energies has reserved 35 per cent of the issue for retail investors, 50 per cent for qualified institutional bidders (QIBs) and 15 per cent for non-institutional investors (NIIs). Notably, the company has reserved Rs 10 crore worth shares for its employees. They will get a discount of Rs 22 per share.
Premier Energies listing date
Premier Energies IPO listing is likely to be on the BSE and the NSE. The listing date is most likely September 3. Kfin Technologies is the registrar for the issue.
About Premier Energies
The company is in the manufacturing of integrated solar cells and solar panels business and includes products like cell, solar module, monofacial modules, bifacial modules, and EPC solutions. All of its five manufacturing units are located in Hyderabad.
Premier Energies performance
For the quarter ended June 30, 2024, on a revenue of Rs 1,668.79 crore, the company has reported a net profit of over Rs 198 crore.
Premier Energies IPO subscription, GMP, listing, price: The grey market is quoting shares at Rs 396 premium. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
