Apex Ecotech Limited IPO...
20 Nov 2024
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.
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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.
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Total Issue Size:
₹2,830.40 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.
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Book Running Lead Managers:
- ● Kotak Mahindra Capital Company Limited
- ● J.P. Morgan India Private Limited
- ● ICICI Securities Limited
● Registrar: Kfin Technologies Limited
WHAT IS GMP?
GMP stands for Grey Market Premium, and if you are planning your IPO then GMP plays an important role. A grey market is a place where stocks/shares get traded before getting officially listed on any stock exchange. The difference between the IPO price and the grey market price is known as GMP (grey market premium). GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.
Premier Energies IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 02-09-2024 | 450.00 | 485.0 (108%) | 02-Sep-2024 13:10 |
| 30-08-2024 | 450.00 | 427.0 (95%) | 30-Aug-2024 13:10 |
| 29-08-2024 | 450.00 | 390.0 (87%) | 29-Aug-2024 12:30 |
| 28-08-2024 | 450.00 | 365.0 (81%) | 28-Aug-2024 13:30 |
| 27-08-2024 | 450.00 | 387.0 (86%) | 27-Aug-2024 13:10 |
| 25-08-2024 | 450.00 | 330.0 (73%) | 25-Aug-2024 12:20 |
| 24-08-2024 | 450.00 | 321.0 (71%) | 24-Aug-2024 13:17 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Premier Energies IPO Overview
| 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 | 62,897,777 shares (aggregating up to ₹2,830.40 Cr) |
| Fresh Issue | 28,697,777 shares (aggregating up to ₹1,291.40 Cr) |
| Offer for Sale | 34,200,000 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 | 422,065,168 |
| Shareholding post issue | 450,762,945 |
Premier Energies IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| 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 |
Premier Energies IPO Lot Size
| Application | Lots | Shares | 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 |
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 |
Premier Energies IPO Promoter Holding
| Share Holding Pre Issue | 72.22% |
| Share Holding Post Issue | 66.03% |
Company & Financials
Incorporated in April 1995, Premier Energies Limited manufactures integrated solar cells and solar panels. The company's product portfolio includes Cell, Solar Module, Monofacial modulesBifacial modules, EPC Solutions and O&M Solutions. The company has five manufacturing units, all of which are situated in Hyderabad, Telangana, India. The clientele of the company includes NTPC, TATA Power Solar Systems Limited, Panasonic Life Solutions Private Limited (“Panasonic”), Continuum, Shakti Pumps, First Energy, Bluepine Energies Private Limited, Luminous, Hartek Solar Private Limited (“Hartek”), Green Infra Wind Energy Limited (a subsidiary of Sembcorp Green Infra Limited), Madhav Infra Projects Limited (“Madhav”), SolarSquare Energy Private Limited (“SolarSquare”) and Axitec Energy India Private Limited (“Axitec”). The company has exported its products to the United States, Hong Kong, South Africa, Bangladesh, Norway, Nepal, France, Malaysia, Canada, Sri Lanka, Germany, Hungary, the United Arab Emirates, Uganda, Turkey, South Korea, China, Taiwan and the Philippines.
Premier Energies Limited Financial Information
| Period Ended | 30 June 2024 | 21 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 3,735.5 | 3,554.13 | 2,110.69 | 1,341.49 | ||||||||||||||||||||||||||||||||||||
| Revenue | 1,668.79 | 3,171.31 | 1,463.21 | 3,735.5 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 198.16 | 231.36 | -13.34 | -14.41 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 26.96 | 36.49 | -0.24 | -0.51 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 255.73 | 455.76 | 224.4 | 209.2 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 1,200.16 | 1,392.24 | 763.54 | 453.3 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
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 |
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:
Premier Energies IPO Review
The company has indicated the likely trends in coming years based on its recent performance. Post-planned expansion, it is poised for better prospects ahead. Based on FY25 annualized super earnings, the issue appears aggressively priced. It’s a pure long-term story. Well-informed investors may park funds for the long term.
FAQs for Premier Energies IPO
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What is the Premier Energies IPO?
Premier Energies IPO is a main-board IPO. The company is going to raise ₹₹2,830.40 Crores via IPO. The issue is priced at ₹427 to ₹450 per equity share. The IPO is to be listed on BSE & NSE.
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When will the Premier Energies IPO open for subscription?
The IPO is to open on August 27, 2024, for QIB, NII and Retail Investors. The IPO will close on August 29, 2024.
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What is Premier Energies IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15% and Retail is 35%.
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What is Premier Energies Issue Size?
Premier Energies' issue size is ₹2,830.40 crores.
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What is Premier Energies IPO Price Band?
Premier Energies IPO Price Band is ₹427 to ₹450.
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What is Premier Energies IPO Lot Size?
The minimum bid is 33 Shares with ₹14,850.
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What is the Premier Energies IPO Allotment Date?
Premier Energies IPO allotment date is August 30, 2024.
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What is the Premier Energies IPO Listing Date?
Premier Energies IPO listing date is September 3, 2024. The IPO is to be listed on BSE and NSE.
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What is the current GMP of the Premier Energies?
The current GMP of Premier Energies IPO is 485.0 (108%).
RHP:
RHP of Premier Energies Limited IPO.
DRHP:
DRHP of Premier Energies Limited IPO.
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What is the Premier Energies IPO?
Premier Energies IPO is a main-board IPO. The company is going to raise ₹₹2,830.40 Crores via IPO. The issue is priced at ₹427 to ₹450 per equity share. The IPO is to be listed on BSE & NSE.
-
When will the Premier Energies IPO open for subscription?
The IPO is to open on August 27, 2024, for QIB, NII and Retail Investors. The IPO will close on August 29, 2024.
-
What is Premier Energies IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15% and Retail is 35%.
-
What is Premier Energies Issue Size?
Premier Energies' issue size is ₹2,830.40 crores.
-
What is Premier Energies IPO Price Band?
Premier Energies IPO Price Band is ₹427 to ₹450.
-
What is Premier Energies IPO Lot Size?
The minimum bid is 33 Shares with ₹14,850.
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What is the Premier Energies IPO Allotment Date?
Premier Energies IPO allotment date is August 30, 2024.
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What is the Premier Energies IPO Listing Date?
Premier Energies IPO listing date is September 3, 2024. The IPO is to be listed on BSE and NSE.
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What is the current GMP of the Premier Energies?
The current GMP of Premier Energies IPO is 485.0 (108%).
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