DBT Bureau
Bengaluru, 3 September 2024
Premier Energies has a specular debut on Tuesday as its shares are listed with a 120% premium at Rs 990 on NSE. The IPO price of Premier Energies was at Rs 450.
The IPO of Premier Energies received a robust response from investors as it was oversubscribed 75 times during the bidding process.
The issue received bids for 332.78 crore equity shares against 4.41 crore shares on offer. While the retail category saw a subscription of 7.44 times, the non-institutional investors’ quota was subscribed by 50.98 times.
The qualified institutional buyers (QIBs) portion received a subscription of 212.42 times, and the employee portion was subscribed 11.32 times.
With such a stellar listing, investors of the IPO were able to double their investments.
Founded in April 1995, Premier Energies is a key player in the solar energy industry. It specializes in the manufacturing of integrated solar cells and panels.
The company’s diverse product range includes both monofacial and bifacial solar modules, along with EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) services. Premier Energies operates five cutting-edge manufacturing facilities in Hyderabad and Telangana.
With emphasis on solar energy and supporting schemes from the central & state governments, investors’ interest in such companies is on a rise. Websol Energy System is another solar module manufacturer listed in the Indian exchanges.
