Premier Energies IPO price band: The Premier Energies Limited IPO price band has been fixed in the range of ₹427 to ₹450 per equity share of the face value of ₹1. The Premier Energies IPO date of subscription is scheduled for Tuesday, August 27, and will close on Thursday, August 29. The allocation to anchor investors for the Premier Energies IPO is scheduled to take place on Monday, August 26.
Premier Energies IPO Details
| IPO Issue Opening Date: | 27th Aug 2024 |
| IPO Issue Closing Date: | 29th Aug 2024 |
| IPO Issue Price: | ₹427.00-450.00 Per Share |
| IPO Listing At: | BSE, NSE |
| Retail Quota: | Not less than 35.00% of the Offer |
| IPO Issue Type: | Book Build Issue |
| IPO Issue Size: | ₹2830.40 Cr |
| Offer for Sale: | ₹1539.00 Cr |
| Fresh Issue: | ₹1291.40 Cr |
| Face Value: | ₹1 Per Equity Share |
| IPO Discount: | Emplopee:22.00 |
| Promoter Holding Pre IPO: | 72.22% |
| Promoter Holding Post IPO: | 66.03% |
The basis of allotment of shares for the Premier Energies IPO is currently scheduled to be finalised on Friday, August 30. Refunds will be initiated by the company on Monday, September 2, and the shares will be credited to the demat account of allottees on the same day after the refund process.
The Premier Energies IPO has allocated up to 50% of the shares in the public issue for qualified institutional buyers (QIB), 15% for non-institutional investors (NII), and a 35% of the offer is set aside for retail investors. Eligible employees participating in the employee reservation portion can avail of a discount of ₹22 per equity share.
The company operates five manufacturing facilities, all located in Hyderabad, Telangana, India. Premier Energies Limited serves a diverse client base which includes NTPC, TATA Power Solar Systems Ltd, Panasonic Life Solutions Private Ltd, Madhav Infra Projects Ltd, and various others. The company has also 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 IPO details
The initial public offering (IPO) comprises a fresh issuance of equity shares totaling up to ₹1,291.4 crore and an Offer for Sale (OFS) of a maximum of 3.42 crore shares by the existing shareholders, which amounts to approximately ₹1,539 crore based on the upper band price of ₹450. As part of the offer-for-sale component, South Asia Growth Fund II Holdings LLC (SAGF II) will sell 2.68 crore equity shares, South Asia EBT Trust will divest 1,72,800 equity shares, and promoter Chiranjeev Singh Saluja will offload 72,00,000 equity shares.
The company’s promoters collectively possess a 72.23% stake, while the public holds 26.12% of the shares, which includes ownership by South Asia Growth Fund II Holdings LLC, and the remaining 1.65% shares are held by employee trusts. The issue has book-running lead managers in the form of Kotak Investment Banking, JP Morgan, and ICICI Securities.
