Premier Energies IPO opened to investors for bidding on August 27. The issue will close on August 29. The company wants to collect a total of Rs 2,830.40 crore through a combination of fresh shares and an offer for sale. Premier Energies IPO Details The company kept the IPO price band in a range of Rs 427 to Rs 450 per equity share. The allotment of the shares is expected to be finalised by August 30. The listing is likely to take place on NSE and BSE on September 03. Premier Energies IPO GMP today The company’s stocks were fetching a premium of 80% in the grey market on the day the IPO was opened to investors for subscription. The grey market is an unofficial place where shares change hands illegally ahead of listing. About Premier Energies The company is an integrated solar cell and module manufacturer. In addition, to manufacturing solar cells and modules, the company provides engineering, procurement and construction solutions, operations and maintenance services and operates as an independent power producer. Minimum Investment A retail buyer needs a minimum of Rs 14,850 to subscribe 33 shares. Meanwhile, there are different investment requirements for small NIIs and big NIIs, ranging between Rs 2,07,900 - 10,09,800. Expert’s take on IPO “The company plans to enter new geographical markets, particularly targeting regions where solar energy adoption is accelerating, thus diversifying its revenue sources and reducing dependency on any single market. With a clear focus on capacity expansion, innovation, and market diversification, Premier Energies Ltd is well-positioned for long-term growth. Hence, We recommend to ‘Subscribe’ the IPO for the long-term,” said Canara Bank in an IPO note. BRLMs and Registrar Kotak Mahindra Capital Company, J.P. Morgan India Pvt Ltd, and ICICI Securities are the book-running lead managers of the issue. Kfin Technologies is handling the work of the registrar for the IPO.
