Premier Energies Ltd. was incorporated on April 3, 1995. The company's business operations include the manufacturing of solar photovoltaic cells, the manufacturing of solar modules including custom made panels for specific applications, the execution of EPC projects, independent power production, O&M services with respect to EPC projects executed by the company and the sale of other solar-related products.
| Bidding Dates |
|---|
| 27 Aug 2024 - 29 Aug 2024 |
| Subscription |
|---|
| 74.38x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,091 | 1 | 13 | 33 | 62.9 M | ₹427 - ₹450 | 66.03 % | ₹26857.4 M - ₹28304.0 M | RHP DOC |
Premier Energies IPO SUBSCRIPTION STATUS
29 Aug '24Premier Energies IPO overall subscription rate was 74.38 times the total available shares
Premier Energies IPO retail subscription rate was 7.69 times in the retail segment
Premier Energies IPO non-institutional investor subscription rate was 50.04 times in the non-institutional investor category
Premier Energies IPO Qualified Institutional Bidder subscription rate was 216.67 times the available shares for Qualified Institutional Bidder
Premier Energies IPO Employees subscription rate was 11.43 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
29 Aug 2024 (Day 3) | 7.69x | 50.04x | 216.67x | 11.43x |
28 Aug 2024 (Day 2) | 4.21x | 18.83x | 1.4x | 6.62x |
27 Aug 2024 (Day 1) | 1.81x | 5.38x | 0.04x | 3.16x |
Premier Energies FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 3MFY25 | 1,981.6 | 16,573.7 | 6,230.6 | 5,066.1 | 22.2% |
| FY24 | 2,313.6 | 31,437.9 | 901.5 | -3,589.1 | 15.9% |
| FY23 | -133.4 | 14,285.3 | 366.9 | -2,366.0 | 7.7% |
| FY22 | -144.1 | 7,428.7 | 49.6 | -1,784.2 | 7.0% |
Premier Energies IPO SUBSCRIPTION STATUS DETAILS
Premier Energies had 62.9 M shares on offer
Premier Energies IPO offer price was in the range ₹427 - ₹450
Premier Energies IPO minimum Investment was ₹14091
Premier Energies IPO issue size was ₹ 26857.4 M - ₹ 28304.0 M
Premier Energies had a minimum lot size of 33 Shares per application
Premier Energies NUMBER OF SHARES ON OFFER
Premier Energies IPO IMPORTANT DATES
| Issue Open Date | 27 Aug 2024 |
| Issue close Date | 29 Aug 2024 |
| Allotment Date | 30 Aug 2024 |
| Refund Date | 02 Sep 2024 |
| Demat Account Credit Date | 02 Sep 2024 |
| Listing Date | 03 Sep 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Premier Energies Allotment Status | Exchange |
Premier Energies IPO subscription opened on 27 Aug 2024, and closed on 29 Aug 2024
IPO allotment for Premier Energies was finalized on Friday, 30 Aug 2024
IPO listing for Premier Energies was on NSE and BSE on Tuesday, 03 Sep 2024
Premier Energies IPO LISTING GAINS
| Issue Price (adjusted) | 450.0 |
| Listing Open Price | 990.0 |
| Listing Close Price | 839.9 |
| Listing Gain% | 120.0% |
| Current Gain% | 132.7% |
Premier Energies Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Premier Energies Ltd. | 1047.2 | 47203.9 | 28.6 | 0.5 | 5.6 | 35 | 13.9 | 8025.9 | 20.7 | 1509.8 | 61.1 | 36.7 | 59.1 |
| Havells India Ltd. | 1288 | 80750.1 | 49.4 | 3.2 | 3.4 | 17.9 | 11.5 | 23022.2 | 4.3 | 1690.6 | 14.8 | 26.1 | 15.7 |
| Waaree Energies Ltd. | 2717 | 78154.9 | 20.5 | 0.3 | 2.6 | 25.7 | 12.3 | 27244.9 | 83.5 | 3711.3 | 98.7 | 132.7 | 72 |
| Apar Industries Ltd. | 16631 | 66829.5 | 56.6 | 1.7 | 2.7 | 18.1 | 7.1 | 22966.9 | 22.9 | 976.9 | 18.9 | 294 | 34 |
| Honeywell Automation India Ltd. | 37900 | 33509.3 | 60.8 | 7.9 | 7.1 | 11.8 | 8.4 | 4860.9 | 11.2 | 525 | 0.3 | 623.3 | 7.7 |
| Syrma SGS Technology Ltd. | 1424.7 | 27420.4 | 74.5 | 0.9 | 5 | 11.1 | 5.5 | 4856.9 | 26.6 | 317.8 | 87.1 | 19.1 | 83.9 |
Premier Energies INFORMATION ON IPO ISSUE
About Premier Energies
Premier Energies Ltd. was incorporated on April 3, 1995. The company's business operations include the manufacturing of solar photovoltaic cells, the manufacturing of solar modules including custom made panels for specific applications, the execution of EPC projects, independent power production, O&M services with respect to EPC projects executed by the company and the sale of other solar-related products.
Object of the Issue
- Investment in the subsidiary, Premier Energies Global Environment for partfinancing the establishment of a 4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana, India
- General corporate purposes
Premier Energies - PROMOTERS
| Name |
|---|
| Surender Pal Singh Saluja |
| Chiranjeev Singh Saluja |
Premier Energies Book Running Lead Manager
Kotak Mahindra Capital Company Limited
premierenergies.ipo@kotak.com
J.P. Morgan India Private Limited
PREMIER_IPO@jpmorgan.com
ICICI Securities Limited
premierenergiesipo@icicisecurities.com
Premier Energies Registrar to the Offer
KFin Technologies Limited
pel.ipo@kfintech.com
Premier Energies Strengths
Large manufacturer
The company is India’s second largest integrated solar cell and solar module manufacturer as well as India’s second largest solar cell manufacturer
Long track record
Through its long track record in the solar module manufacturing industry, it has been able to build up recognition for the brand and has established its credentials
Diversified customer base
The company has a diversified customer base with strong customer relationships both within India and overseas with a strong order book
Premier Energies Risks
Dependent on two products
The company derives a significant amount of revenue from only two product categories namely, solar cells and modules, and therefore their continued success is necessary for the business and prospects
Outstanding litigation
There are outstanding litigation proceedings involving the company, its subsidiaries and directors. Any adverse outcome in such proceedings may have an adverse impact on the business
Incurred losses
The company has incurred losses in Fiscal Years 2022 and 2023 and any similar losses in the future may adversely affect the business, financial condition and cash flows
IPO FAQs
This IPO consists of an offer for sale of up to Rs 1,539.0 crore, of 34,200,000 shares. It also consists of a fresh issue of Rs 1,291.4 crore.
The promoters of the company are Surender Pal Singh Saluja and Chiranjeev Singh Saluja.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 427.0 - 450.0.
The IPO application opens on Aug 27, 2024 and closes on Aug 29, 2024.
The minimum lot size for the IPO is 33. The maximum lot size for the IPO is 429.
For all category investors, the minimum application amount for this IPO is Rs. 14,091.0, the maximum value for this IPO is Rs 193,050.0.
This IPO will be allotted on Aug 30, 2024.
The refund will be credited to your account on Sep 02, 2024.
The allotted shares will be credited to your demat on Sep 02, 2024.
Premier Energies Ltd.’s shares listed on the stock exchanges on Sep 03, 2024.