Saturday, October 12, 2024
HomeEconomyPremier Energies IPO subscribed 6.72 times in two days: Retail category subscribed 4.37 times,...

Premier Energies IPO subscribed 6.72 times in two days: Retail category subscribed 4.37 times, today is the last day for bidding

Today is the last day to bid for the Initial Public Offering (IPO) of Premier Energies Limited. In two days, the IPO of Premier Energies has been subscribed a total of 6.72 times. The IPO was subscribed 4.37 times in the retail category, 1.37 times in the Qualified Institutional Buyers (QIB) and 19.35 times in the Non-Institutional Investors (NII) category. The company's shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 3. Premier Energies wants to raise a total of ₹ 2,830.40 crore through this issue. For this, the company is issuing 28,697,777 fresh shares worth ₹ 1,291.40 crore. At the same time, the existing investors of the company are selling 34,200,000 shares worth ₹ 1,539 crore through Offer for Sale (OFS). If you are also planning to invest in it, then we are telling you how much you can invest in it. What is the minimum and maximum amount you can invest? Premier Energies Limited has fixed the price band of this issue from ₹ 427 to ₹ 450. Retail investors can bid for at least one lot i.e. 33 shares. If you apply for 1 lot as per the upper price band of IPO of ₹ 450, then you will have to invest ₹ 14,850 for it. At the same time, retail investors can apply for a maximum of 13 lots i.e. 429 shares. For this, investors will have to invest ₹ 193,050 as per the upper price band. 35% of the issue reserved for retail investors The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 35% share is reserved for retail investors and the remaining 15% share is reserved for non-institutional investors (NII). Premium of Premier Energies in the grey market is 88% Before listing, the company's share has reached a premium of 88% i.e. ₹ 396 per share in the grey market. In such a situation, according to the upper price band of ₹ 450, its listing can be done at ₹ 846. However, this can only be estimated, the listing price of the share is different from the grey market price. 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 an Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a 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.

Graphics Source: VaskarAssets

Frontpage Insights
Frontpage Insightshttps://frontpageinsights.online
At Frontpage Insights, we understand that staying informed is essential in today’s fast-paced world. That’s why we are committed to bringing you news that matters, with a focus on delivering breaking news, in-depth analyses, and insightful commentary on a wide range of topics. Our diverse coverage spans categories such as WORLD, TOP STORIES, ECONOMY, BUSINESS, SCIENCE, HEALTH, SPORTS, LIFESTYLE, and ENTERTAINMENT, ensuring that our readers have access to a well-rounded perspective on global events.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Discover more from Frontpage Insights

Subscribe now to keep reading and get access to the full archive.

Continue reading