Premier Energies IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Aug 31, 2024Let’s have a detailed review of the company and analytics of the Premier Energies IPO release date, IPO offer price, subscription, Premier Energies Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 1 |
| Price Band | Rs 427 to Rs 450 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 33 Shares |
| Listing Date | September 3, 2024 |
| Offer for Sale | Rs 1,539.00 Cr. |
| Fresh Issue | Rs 1,291.40 Cr. |
| IPO Size | Rs 2,830.40 Cr. |
| Tick Size | 1 |
Premier Energies IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Premier Energies Share Price |
Premier Energies IPO – Summary
Their Company 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.
In relation to only solar cells, they are also the second largest domestic manufacturer in terms of annual installed capacity as of March 31, 2024.
The promoters of this company is SURENDERPAL SINGH SALUJA AND CHIRANJEEV SINGH SALUJA. The lead manager of the issue is Kotak Mahindra Capital Company Limited, P. Morgan India Private Limited and ICICI Securities Limited, and the Registrar of this issue is KFin Technologies Limited.
Premier Energies IPO Date
The opening and closing dates of Premier Energies IPO are August 27, 2024 and August 29, 2024 respectively.
Premier Energies IPO Subscription
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 27th Aug | 0.04x | 5.53x | 1.91x | 0.00x | 2.16x |
| 2nd Day – 28th Aug | 1.37x | 19.35x | 4.37x | 7.11x | 6.72x |
| 3rd Day – 29th Aug | 212.42x | 50.98x | 7.44x | 11.32x | 75.00x |
| Shares Offered or Net Issue | 12,535,111 | 9,401,333 | 21,936,444 | 233,644 | 62,909,199 |
The shares subscribed by the public will be updated here.
Premier Energies IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Premier Energies Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | August 30, 2024 |
| Refunds Initiation | September 2, 2024 |
| Credit of Shares to Demat Account | September 2, 2024 |
| Share Listing Date | September 3, 2024 |
Premier Energies IPO Price Band
The face value of each share is Rs.1, but the price band of the IPO is Rs 427 to Rs 450
Premier Energies IPO Equity Size
This Initial Public Issue of 62,897,777 Equity Shares of Rs.1 each for cash at a price of Rs 427 to Rs 450 per equity share aggregating to Rs.2,830.40 Cr.
Premier Energies IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 28,697,777 Equity Shares of Rs.10/ each.
Issue Size: 62,897,777 Equity Shares of Rs.1 each, aggregating to Rs.2,830.40 Cr.
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Premier Energies IPO – Live Performance
The listing date of this IPO is September 3, 2024. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Premier Energies Share Price |
Premier Energies IPO Grey Market Premium
The Premier Energies Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Premier Energies IPO – Company Overview
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 with respect to EPC projects executed by their Company and (vi)the sale of other solar-related products.
As of the date of this Draft Red Herring Prospectus, they have five manufacturing facilities, all of which are situated on land that they own, in Hyderabad, Telangana, India. Combined, their manufacturing facilities have an annual installed capacity of 2 GW for solar cells and 3.36 GW for solar modules as of the date of this Draft Red Herring Prospectus
They established a 75 MW capacity solar cell manufacturing line in 2011 before becoming one of the first companies in India to manufacture solar cells at scale through the introduction of a solar cell line with an annual installed capacity of 500 MW in Fiscal 2021 and 250 MW in Fiscal 2022.
Premier Energies IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||||
| 30-Jun-24 | 30-Jun-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets |
37,355.00
|
22,857.44
|
35,541.25
|
21,106.88
|
13,414.94
|
| *Total Revenue |
16,687.90
|
6,162.26
|
31,713.11
|
14,632.12
|
7,670.33
|
| Total Expense |
14,237.20
|
5,733.99
|
28,832.62
|
14,721.91
|
7,838.99
|
| Profit After Tax |
1,981.60
|
313.29
|
2,313.60
|
(133.36)
|
(144.08)
|
Earnings per Equity Share (in Million)
| 30-Jun-24 | 30-Jun-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted |
5.93
|
0.94
|
6.93
|
(0.38)
|
(0.44)
|
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 2,313.60 Million, Rs. (133.36) Million and Rs. (144.08) Million respectively.
Premier Energies IPO – Promoters
The Promoter of this company is:
- SURENDERPAL SINGH SALUJA
- CHIRANJEEV SINGH SALUJA
List of Related Parties (Key Managerial Personnel)
- Surender Pal Singh Saluja, Chairman and Whole-Time Director
- Chiranjeev Singh Saluja, Managing Director
- Revathi Rohini Buragadda, Executive DirectorIndian Companies
- Abhishek Loonker, Non-Executive Director
Premier Energies IPO – Promoters Holding
- Pre-Issue Share Holding – 72.22%
- Post-Issue Share Holding – 66.03%
Premier Energies IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 62,897,777 Equity Shares aggregating up to Rs.[●] Million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 422,065,168 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Premier Energies IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Investment in their Subsidiary, Premier Energies Global Environment Private Limited (“PEGEPL”) for part-financing the establishment of a4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana, India (the “Project”); and
- General corporate purposes.
Premier Energies IPO – Business Strategy
- Expand their overseas presence and increase their exports
-
Develop and grow their rooftop solar offering
- Capitalize on available market opportunities to grow their domestic business
-
Expanding and upgrading manufacturing capacities using the latest technology
Premier Energies IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- They are India’s second-largest integrated solar cell and solar module manufacturer as well as India’s second-largest solar cell manufacturer.
- They have a long track record in the solar module manufacturing sector
- They have technical expertise in solar cell line production
- They have a diversified customer base with strong customer relationships both within India and overseas with a strong order book.
- They have an experienced Promoter-led senior management team with demonstrated execution capabilities
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-24 |
6.93
|
37.46
|
14.63 |
| 31-Mar-23 |
(0.38)
|
(3.35)
|
– |
| Mar-22 |
(0.44)
|
(3.65)
|
– |
Premier Energies IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| Premier Energies Limited | 1 | NA |
6.93
|
37.46
|
31,713.11 |
| Listed Peers | |||||
|
Websol Energy System Limited
|
10 | NA |
(29.99)
|
NA | 268.10 |
Premier Energies IPO Lead Managers
| Lead Managers |
| Kotak Mahindra Capital Company Limited
P. Morgan India Private Limited ICICI Securities Limited |
Premier Energies IPO Registrar to offer
| Registrar to the Offer |
| KFin Technologies Limited Selenium, Tower-B, Plot No. 31 and 32 Financial District Nanakramguda, Serilingampally Hyderabad 500 032 Telangana, India Tel: +914067162222 E-mail: pel.ipo@kfintech.com Website: www.kfintech.com Investor grievance e-mail:einward.ris@kfintech.com Contact Person: M. Murali Krishna SEBI Registration No.: INR000000221 |
Premier Energies IPO – Other Details
- Statutory Auditor – Deloitte Haskins & Sells, Chartered Accountants
- Legal Counsel to the Company – Shardul Amarchand Mangaldas & Co
- Bankers to the Company – HDFC Bank
Premier Energies IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Premier Energies Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Premier Energies IPO Review FAQs
Check out various FAQs related to Premier Energies IPO:
What is the Issue Size of Premier Energies IPO?
The Company is making an initial public offer of 62,897,777 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Premier Energies IPO?
The price band for this particular IPO ranges between Rs 427 to Rs 450. As far as the face value of the share is concerned, it is Rs. 1 per share.
What is the Premier Energies IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on August 27, 2024, while the closing date is set at August 29, 2024.
What is the Premier Energies IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on August 30, 2024, refund initiation is on September 2, 2024, credit of shares is on September 2, 2024, and share listing date is on September 3, 2024.
What is the Premier Energies IPO Listing Date?
Shares of this company shall be listed in the exchanges on September 3, 2024. The date, when the listing would be done, is stagnant on September 3, 2024.
Who is the Registrar of Premier Energies IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Premier Energies IPO?
Here are the promoters of this IPO – SURENDERPAL SINGH SALUJA AND CHIRANJEEV SINGH SALUJA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Premier Energies IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Premier Energies IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Premier Energies Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 2,313.60, 2022 is (133.36), and 2021 is (144.08). PAT from Jun 2023 is 1,981.60.
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