Premier Energies is scheduled to hit the market on August 27, 2024 and close on August 29, 2024. Premier Energies plans to raise around ₹2,830.40 Cr through an IPO with a sale of up to 62,897,777 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Premier Energies Limited, established in April 1995, specializes in manufacturing integrated solar cells and solar panels. Its product range includes solar cells, monofacial and bifacial modules, as well as EPC and O&M solutions. The company operates five manufacturing units located in Hyderabad, Telangana, India, and serves a diverse clientele, including prominent companies such as NTPC, TATA Power Solar Systems Limited, and Panasonic Life Solutions Private Limited, among others.
As of July 31, 2024, Premier Energies had an impressive order book valued at ₹59,265.65 million, which comprises ₹16,091.14 million for non-DCR solar modules, ₹22,140.60 million for DCR solar modules, ₹18,911.18 million for solar cells, and ₹2,122.72 million for EPC projects. The company exports its products to various countries, including the United States, Germany, and South Africa. By June 2024, the workforce included 1,447 employees and 3,278 contract laborers.
Premier Energies IPO Details
Premier Energies IPO opens on August 27, 2024, and closes on August 29, 2024. The Listing date for Premier Energies IPO is on September 3, 2024. The price band for IPO is ₹427 to ₹450 per share and lot size of 33 Shares.
| IPO Date | August 27, 2024 to August 29, 2024 |
| Listing Date | September 3, 2024 |
| Price | ₹427 to ₹450 per share |
| Lot Size | 33 Shares |
| Issue Size | ₹2,830.40 Cr |
| Face Value | ₹10 per share |
Premier Energies IPO Tentative Timetable
Premier Energies opening date is August 27, 2024 and close date is August 29, 2024. The IPO allotment date is August 30, 2024. Therefund initiation of IPO is on September 2, 2024. The credit of shares in demat account is on September 2, 2024. The listing date is on September 3, 2024.
| Event | Date |
|---|---|
| IPO Opening | August 27, 2024 |
| IPO Closing | August 29, 2024 |
| IPO Allotment Date | August 30, 2024 |
| Refund Initiation | September 2, 2024 |
| Shares Credit to Demat | September 2, 2024 |
| Lisiting Date | September 3, 2024 |
Premier Energies IPO Lot Size
Lot Size of this IPO is 33 shares. A retail-individual investor can apply for up to 13 lots (429 shares or ₹193,050).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 33 | ₹14,850 |
| Retail(Maximum) | 13 | 429 | ₹193,050 |
| S-HNI (Minimum) | 14 | 462 | ₹207,900 |
| B-HNI (Minimum) | 68 | 2,244 | ₹1,009,800 |
Premier Energies IPO Promoter Holding
| Pre Issue Share Holding | 72.22% |
| Post Issue Share Holding |
Premier Energies IPO Review
Premier Energies Ltd. (PEL) is a well-known company in the solar energy sector, with nearly 30 years of experience. They make advanced solar cells, including bifacial monocrystalline PERC cells that use M10 wafers, and a variety of solar modules according to customer needs. PEL also provides customized solar products, handles EPC (Engineering, Procurement, and Construction) projects, offers operation and maintenance (O&M) services, and produces power through their solar plant in Jharkhand. Currently, PEL has five manufacturing plants in Hyderabad, India, with the ability to produce 2 GW of solar cells and 4.13 GW of solar modules each year. They are expanding their capacity by adding a new 1,000 MW TOPCon solar cell line expected to start by FY25. With a growing order book and plans for expansion, PEL is set to benefit from the rising demand for solar energy in India.
Financially, PEL has shown strong growth over the last two years. From FY22 to FY24, their total income increased from ₹767.03 crore to ₹3,171.31 crore. They also turned around their losses, going from a loss of ₹14.41 crore in FY22 to a profit of ₹231.36 crore in FY24. The positive trend continued in Q1 FY25, where PEL reported a net profit of ₹198.16 crore on a total income of ₹1,668.79 crore. However, the IPO is priced high, with a price-to-earnings (P/E) ratio of 25.60 based on expected FY25 earnings and 87.72 based on FY23 earnings. This high valuation indicates strong expectations from investors but suggests that the stock might already be fully valued at the IPO price. PEL's return on capital employed (RoCE) margins have also improved from 3.63% in FY22 to 25.65% in FY24, showing better operational performance. However, they haven’t declared any dividends during this time, which could be a concern for investors looking for income.
PEL is launching its first IPO to raise about ₹2,830.40 crore, which will include both new shares and an Offer for Sale (OFS). The fresh issue will mainly fund the expansion of their manufacturing capacities through their subsidiary, Premier Energies Global Environment Pvt. Ltd. The IPO price is set between ₹427 and ₹450 per share, making up 13.95% of the company's equity capital after the IPO. While the valuation reflects PEL’s growth potential, it is on the higher side, which might put off some investors. Nevertheless, the company’s strong track record, substantial order book of ₹5,926.57 crore, and planned expansions make it an attractive long-term investment for knowledgeable investors. However, given the high pricing, potential investors should expect some ups and downs and should think of this investment as a long-term opportunity rather than looking for quick returns.
Premier Energies IPO Subscription Status (Bidding Details)
Table not foundPremier Energies IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Premier Energies IPO FAQs
What is Premier Energies IPO?
Premier Energies is issuing 62,897,777 equity shares with a face value of ₹10 each, totaling up to ₹2,830.40 Cr. The shares are being offered at a price of ₹427 to ₹450 each, with a minimum order quantity of 33 shares.
Kfin Technologies Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Premier Energies IPO will open?
Premier Energies will open on August 27, 2024 for QIB, NII, and Retail Investors.
When Premier Energies IPO will end?
Premier Energies will end on August 29, 2024.
What is Premier Energies IPO Size?
Premier Energies IPO size is ₹2,830.40 Cr.
What is Premier Energies IPO Price Band?
Premier Energies price band is ₹427 to ₹450 per share.
What is the Premier Energies IPO Allotment Date?
Premier Energies allotment date is August 30, 2024.
What is the Premier Energies IPO Listing Date?
Premier Energies listing date is September 3, 2024. The IPO is to be listed on BSE and NSE.
How to Premier Energies IPO through Zerodha?
To apply for the IPO “Premier Energies” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Premier Energies IPO through Upstox?
To apply for the IPO “Premier Energies” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Premier Energies IPO Allotment Status?
For Premier Energies IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Premier Energies IPO GMP?
You can check out here: Premier Energies IPO GMP. Check all IPO GMP here.