Premier Energies IPO will open for subscription from 27 August 2024. The company aims for an issue size of ₹2,830.40 Cr through this IPO.
Company Overview
| Full name | Premier Energies Limited |
| Sector | Electricals |
| Industry | Electronics – Components |
| Company Website | https://www.premierenergies.com/ |
About Company
Premier Energies is India’s second-largest producer of integrated solar cells and modules. The company operates five manufacturing facilities, all located on company-owned land in Hyderabad, Telangana. Collectively, these facilities boast an annual installed capacity of 2 GW for solar cells and 3.36 GW for solar modules. The company’s operations span a wide range of activities: (i) manufacturing solar photovoltaic (PV) cells, (ii) producing solar modules, including custom panels tailored for specific applications, (iii) executing EPC projects, (iv) generating power independently, (v) providing O&M services for EPC projects we’ve completed, and (vi) selling various other solar-related products.
The EPC division has undertaken numerous projects across India, such as rooftop solar systems, canal top projects, and other large-scale solar power initiatives. These projects include a 100 MW installation for a Navratna public sector enterprise, a 20 MW canal bank and canal top project in Uttarakhand for a state government power generation company, and 18 MW and 15 MW projects in Karnataka. As of 15 March 2024, the company had an order book valued at INR 5,362.05 crore. This includes INR 1,197.50 crore for non-DCR solar modules, INR 3,212.90 crore for DCR solar modules, INR 801.59 crore for solar cells, and INR 150.06 crore for EPC projects. As of 31 December 2023, the company employed 1,396 full-time employees.
The Objectives of the Issue
- Investment in the Subsidiary, Premier Energies Global Environment Private Limited for part-financing the establishment of a 4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana, India (the “Project”); and
- General corporate purposes
Premier Energies IPO Timetable
| IPO Opening date | 27 August 2024 |
| IPO Closing | 29 August 2024 |
| Basis of Allotment | 30 August 2024 |
| Initiation Refund | 02 September 2024 |
| Credit to Demat Account | 02 September 2024 |
| Listing Date | 03 September 2024 |
Premier Energies IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹2,830.40 Cr – 62,897,777 shares |
| Fresh Issue | ₹1,291.40 Cr – 28,697,777 shares |
| Offer for sale | ₹1,539.00 Cr – 34,200,000 shares |
| Face value | ₹01 per share |
| Price Band | ₹427 to ₹450 per share |
| Lot size | 33 Shares |
| Employee Discount | ₹22 per share |
| Shareholding pre-issue | 422,065,168 |
| Shareholding post-issue | 450,762,945 |
| Listing Exchange | BSE & NSE |
Premier Energies IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 33 | ₹14,850 |
| Retail (Max) | 13 | 429 | ₹193,050 |
| S-HNI (Min) | 14 | 462 | ₹207,900 |
| S-HNI (Max) | 67 | 2,211 | ₹994,950 |
| B-HNI (Min) | 68 | 2,244 | ₹1,009,800 |
Premier Energies Offer Documents
Premier Energies IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Premier Energies Financial Performance
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | Q1 FY 2025 | |
| Revenue | 701.46 | 742.87 | 1,428.53 | 3,143.79 | 1,657.37 |
| Expenses | 681.07 | 783.90 | 1,472.19 | 2,883.26 | 1,423.72 |
| Net income | 25.81 | (14.41) | (13.34) | 231.36 | 198.16 |
| Margin (%) | 3.68 | (1.94) | (0.93) | 7.36 | 11.96 |
Premier Energies Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | (0.44) | (0.38) | 5.48 | 17.58 |
| PE Ratio | – | – | 77.92 – 82.09 | 24.28 – 25.59 |
* Calculated on the basis of annualized Profits After Tax for FY 2024
| FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | (3.65) | 3.35 | 37.46 |
| NAV | 9.32 | 9.05 | 14.63 |
| ROCE (%) | 3.63 | 5.94 | 25.65 |
| EBITDA (%) | 7.01 | 7.71 | 15.93 |
| Debt/Equity | 1.15 | 1.86 | 2.18 |
Company Promoters
- Surender Pal Singh Saluja
- Chiranjeev Singh Saluja.
Promoter Holding
| Pre Issue Share Holding | 72.22% |
| Post Issue Share Holding | 66.03% |
Premier Energies Offer GMP Update
Coming Soon
Premier Energies IPO Subscription Update
Coming Soon
Premier Energies IPO Allotment Status
Premier Energies IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Premier Energies IPO Listing Details
| Listing Date | 03 September 2024 |
| BSE Scrip Code | Coming Soon |
| NSE Symbol | |
| ISIN | |
| Final Issue Price |
Listing Day Update
| Listing Exchange | Coming Soon |
| Final Issue Price | |
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Premier Energies IPO Lead Manager(s)
- Kotak Mahindra Capital Company Limited
- J.P. Morgan India Private Limited
- ICICI Securities Limited
Premier Energies Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: pel.ipo@kfintech.com
Website: www.kfintech.com
Premier Energies Contact Details
PREMIER ENERGIES LIMITED
8th Floor, Orbit Tower Hyderabad Knowledge City,
Raidurg (Panmaktha Village), Serilingampally Mandal,
Hyderabad – 500 019, Telangana
Phone: +91 90 3099 4222
Email: investors@premierenergies.com
Website: www.premierenergies.com
Premier Energies IPO FAQs
How many shares in Premier Energies IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for Premier Energies Public Offer?
The best way to apply for Premier Energies public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Premier Energies IPO GMP today?
Premier Energies IPO GMP today is ₹ 265 per share.
What is Premier Energies kostak rate today?
Premier Energies kostak rate today is ₹ NA per application.
What is Premier Energies Subject to Sauda rate today?
Premier Energies Subject to Sauda rate today is ₹ 5,600 per application.
Final thoughts
Premier Energies IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
