Premier Energies IPO opens for investors

Business: Premier Energies Limited’s IPO will be listed on the stock market on September 3. Today the company’s IPO has opened for investors. Investors can bid in this IPO till August 29. This IPO will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 3. The company wants to raise Rs 2,830.40 crore through this IPO. The company has issued 28,697,777 fresh share issues worth Rs 1,291.40 crore in this IPO. Apart from this, it is selling 34,200,000 shares under Offer for Sale i.e. OFS.

How much has been subscribed so far?

According to the website of National Stock Exchange (NSE), till 12.54 pm, the IPO was subscribed a total of 0.49 times. In this, retail investors have bid 0.63 times, non-institutional investors have bid 0.74 times. Apart from this, the employees of the company have bid 1.43 times. However, QIB investors have not placed any bid yet.

How much can you invest

The price band of Premier Energies Limited IPO has been fixed from Rs 427 to Rs 450. In this, investors have to bid for at least 33 shares. This means that investors have to invest at least Rs 14,850. At the same time, investors can bid for a maximum of 429 shares. This means that a maximum investment of Rs 193,050 has to be made.

What does the company do

Premier Energies Limited was established in April 1995. This company manufactures integrated solar cells and solar panels. The company has 5 manufacturing facilities. All these facilities are located in Telangana. The company manufactures cells, solar modules, monofacial modules, bifacial modules, EPC solutions and O&M solutions.