Premier Energies IPO: Check subscription status, GMP, listing date, and other details

Premier Energy IPO: Premier Energies’ initial public offering (IPO) has garnered substantial interest from investors during the subscription period of August 27 to August 29, indicating potentially healthy listing gains.

As the subscription for the IPO ended on Friday, the IPO shares were trading at a premium in the grey market ahead of the scheduled listing. The shares of the Premier Energies IPO were trading at around 118.22 per cent premium on Monday, September 2. According to data from InvestorGain, the shares of the company are expected to hit Dalal Street with a price of Rs 982 apiece against the IPO price of Rs 450.

The shares of the company are expected to be listed on both the Bombay Stock Exchange and the National Stock Exchange on Tuesday, September 3.

During the subscription period, Premier Energies IPO was subscribed 74.38 times with bids amounting to Rs 332.02 crore when compared to the 4.46 crore shares offered.

The Premier Energies IPO had a price band of Rs 427 to Rs 450 per share with the fresh issue of 2.87 crore shares amounting to Rs 1,291.40 crore and an offer for sale of 3.42 crore shares for Rs 1,539.00 crore.

The bumper subscription could be credited to the growth potential of the company and its industry prospects. Premier Energies manufactures integrated solar cells and solar panels which are currently playing a key role in transforming India’s energy production patterns. Cell, solar modules, monofacial modules, bifacial modules, and EPC solutions are some of the central products for the company.

NTPC, Tata Power Solar Systems Limited, and Panasonic are some of the key clientele for the company. The company currently holds five manufacturing units, all based in Hyderabad, Telangana.