Premier Energies Debuts on NSE with 120% Premium as ₹1,291.4 Crore IPO.
Premier Energies shares soar 120% above IPO price in a strong NSE debut. Get the latest LIVE updates on Premier Energies stock performance.
Key Highlights of Premier Energies Stock Performance:
Market Capitalization: Premier Energies’ market capitalization stands at ₹39,499.1 crore.
Current Stock Price: The share price is currently at ₹876.2, down 11.4% from its opening price.
Early Trading: At 10:22 am, the stock traded at ₹873.7, representing an 11.7% decline from the issue price of ₹990. The day’s high was ₹994.5, and the low was ₹860.
Initial Listing: Premier Energies shares opened at ₹991 on the NSE, marking a 120.2% increase over the issue price.
Premier Energies IPO Details:
- IPO Size: ₹2,830.4 crore
- Subscription Rate: The IPO was oversubscribed 74.09 times, with robust demand across categories:
- Qualified Institutional Buyers (QIBs): 216.67 times
- Non-Institutional Investors: 49.76 times
- Retail Investors: 7.25 times
- Price Band: ₹427-₹450 per share
Fund Allocation:
Proceeds from the fresh issue, amounting to ₹968.6 crore, will be used to invest in Premier Energies Global Environment Private Limited. The investment will partially finance the establishment of a 4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana. Remaining funds will cover general corporate expenses.
Premier Energies: An Overview
With 29 years of experience, Premier Energies is a key player in the solar industry. The company operates five manufacturing facilities, with an annual capacity of 2 GW for solar cells and 4.13 GW for solar modules. Some of its prominent clients include Green Infra Wind Energy, TATA Power Solar Systems, and Luminous.
