Premier Energies shares listed at ₹991, up 120%: Its issue price was ₹450, the company manufactures integrated solar cells and solar panels

The share of Premier Energies Limited was listed in the market today i.e. on 3 September with a premium of 120%. The share of Premier Energies was listed on NSE at a price of ₹ 991 per share. Whereas, it was listed on BSE at ₹ 990 per share. Its issue price was kept at ₹ 450 per share. The issue was worth Rs 2,830.40 crores The issue of Premier Energies was worth Rs 2,830.40 crores. In this, the company issued 28,697,777 fresh shares worth ₹ 1,291.40 crores. At the same time, the existing investors of the company sold 34,200,000 shares worth Rs 1,539 crores through Offer for Sale i.e. OFS. 35% of the issue was reserved for retail investors. The company had reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 35% share was reserved for retail investors and the remaining 15% share was reserved for non-institutional investors (NII). The company manufactures integrated solar cells and solar panels. Premier Energies Limited was established in April 1995. The company manufactures integrated solar cells and solar panels. The company's product portfolio includes cells, solar modules, monofacial modules, bifacial modules, EPC solutions and O&M solutions. The company has 5 manufacturing facilities, all located in Telangana. The company's customers include NTPC, Tata Power Solar Systems Limited, Panasonic Life Solutions Private Limited, Continuum, Shakti Pumps, First Energy, Bluepine Energies Private Limited, Luminous and Heartek Solar Private Limited. Apart from selling its products in the country, the company exports them to the US, Hong Kong, South Africa, Bangladesh, Norway, Nepal, France, Malaysia, Canada, Sri Lanka, Germany, Hungary, United Arab Emirates, Uganda, Turkey, South Korea, China, Taiwan and the Philippines. What is an IPO? When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings an IPO.

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