Premier Energies IPO: Premier Energies Limited’s IPO has closed with strong subscription. After the tremendous response received from institutional and non-institutional investors, the IPO of Rs 2831 crore has been subscribed nearly 75 times. 29 August 2024 was the last date to apply for the IPO. Premier Energies’ IPO will be listed on the stock exchange on 3 September.
QIB quota subscribed 216.67 times
In the IPO of Premier Energies, 1,22,89,227 shares were reserved for institutional investors and applications for a total of 2,66,27,11,491 shares were received in this category. This category has been subscribed a total of 216.67 times. 96,31,406 shares were reserved for non-institutional investors and applications for a total of 48,19,73,250 shares were received. This category has been subscribed 50.04 times. 2,24,73,279 shares were reserved for retail investors and applications for a total of 17,27,54,472 shares were received. This category has been subscribed 7.69 times. The quota reserved for employees has been subscribed 11.43 times.
The price band is Rs 427 – 450
Premier Energies Limited aims to raise Rs 2831 crore through IPO, out of which Rs 1291.4 crore is being raised through fresh issue and 34,200,000 equity shares are being sold through offer for sale. The company has fixed the price band of Rs 427 – Rs 450 for a share with a face value of Rs 1.
Listing expected at 90% premium
A great listing of the IPO of Premier Energies is expected. The stock is trading at a premium of 93 per cent in the grey market. The GMP of the stock priced at Rs 451 is Rs 421. That is, the IPO is expected to be listed at Rs 871.
IPO listing on 3 September
The IPO of Premier Energies was open from 27 to 29 August 2024. The basis of allotment will be decided on 30 August and the funds will be unblocked with refund on 2 September. Shares will be credited to the demat accounts of successful investors on 2 September and the IPO will be listed on BSE NSE on 3 September. Premier Energies is India’s second largest integrated solar cell and solar module manufacturing company whose clients also include Tata Power Solar Systems, NTPC.
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