Premier Energies’ Initial Public Offering (IPO) is expected to make a stunning market debut on September 3, 2024. Some reports from the grey market indicate that investors who got the shares through the IPO might be able to see their stakes double. As per data obtained from Chittorgarh.com, before the listing of Premier Energies’ shares, its shares were trading at a 111% premium in the grey market.
Premier Energies IPO
The IPO of Premier Energies, which offered shares worth ₹2,830 crore, received excellent response from the investors and the issue subscribed 74.14 times on the final day of the week. The company offered 4.46 crore shares for sale, and opened for 330.98 crore shares in exchange. Qualified Institutional Buyers (QIBs) took the lead, aggregating 216.67 times their allotted quota, while retail investors oversubscribed their portion by 7.33 times. Non-Institutional Investors (NIIs) and employees subscribed to their reserved portions by 49.81 and 10.84 times, respectively.
Premier Energies IPO Subscription Details (Day-wise)
Date
QIB
NII
Retail
EMP
Total
Day 1
August 27, 2024
0.04
5.53
1.91
0.00
2.16
Day 2
August 28, 2024
1.37
19.35
4.37
7.11
6.72
Day 3
August 29, 2024
212.42
50.98
7.44
11.32
75.00
Premier Energies IPO GMP
Premier Energies IPO’s last GMP is ₹487 (Sep 3, 2024, 06:03 AM). With a price band of ₹450, the estimated listing price is ₹937, indicating an expected gain of 108.22% per share, investorgainreported.
Premier Energies is all set to float its shares in both BSE and NSE on September 3 and experts have promised a good ning.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Premier Energies IPO is expected to be a big hit. GMP suggest investors could see their money double on the first day. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
