IPO

Premier Energies Limited IPO

Mainboard

Other Electrical Equipment

Listed On: Sep 3, 2024 at ₹ 990.0(NSE)

₹ 14850 /33 Shares

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Price Summary

Last Closing

1,137.40 (152.76%)

52 Week High

1,267.95

52 Week Low

802.10

Last Update

18-Sep-2024 3:30 PM

Premier Energies IPO Details

27 Aug, 2024

Open Date

29 Aug, 2024

Close Date

30 Aug, 2024

Allotment Date

03 Sep, 2024

Listing Date

Issue Price

₹427-450 per equity share

Face Value

₹1 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Kfin Technologies Limited

List Price

990.0(NSE)

Listing Date

2024-09-03

Market Lot

Retail : 33 Shares (₹14,850/-)
S-HNI : 462 Shares (₹2,07,900/-)
B-HNI : 2,244 Shares (₹10,09,800/-)

Lead Manager

Kotak Mahindra Capital Company Limited
J.P. Morgan India Private Limited
ICICI Securities Limited

Issue Size

Total ₹2,830.40 Cr :
#Fresh Issue : 28,697,777 shares(aggregating up to ₹1,291.40 Cr) +
#OFS : 34,200,000 shares of ₹1(aggregating up to ₹1,539.00 Cr)

Retail Portion

35% (Number of Retail Applications: 6,64,670 Approx),
(Number of S-HNI Applications : 6,784 Approx),
(Number of B-HNI Applications : 13,566 Approx)

Subscription

73.94 times

Premier Energies IPO Subscription Details

As onQIBNII
bNII   sNII
RetailTotal
Shares Offered / Reserved12,535,1119,401,333
6,267,555    3,133,778
21,936,44443,872,888
Day 1 - 27-08-24 05:00 PM0.04 x5.38
5.72 x   4.70 x
1.81 x2.10 x
Day 2 - 28-08-24 05:00 PM1.40 x18.83
20.13 x   16.22 x
4.21 x6.61 x
Day 3 - 29-08-24 05:00 PM216.67 x49.56
56.61 x   35.47 x
7.04 x73.94 x
Total No. of Applications: 37,51,335 (Approx)
Retail Subscription on the basis of Applications: Retail:5.06x BHNI:10.88x SHNI:34.44x times

Premier Energies Valuations

EPS Pre IPO

₹5.48/-

EPS Post IPO

₹17.58/-

P/E Pre IPO

82.09

P/E Post IPO

25.59

RoNW

37.46%

Premier Energies Company Financials All values are in ₹ Cr.

30-Jun-2431-Mar-2431-Mar-22
Assets3,735.53,554.132,110.69
Revenue1,668.793,171.311,463.21
Profit After Tax198.16231.36-13.34
Net Worth26.9636.49-0.24
Reserves & Surplus255.73455.76224.40
Total Borrowing1,200.161,392.24763.54

About The Company

Premier Energies Limited manufactures integrated solar cell and solar panel. The company's product portfolio includes Cell, Solar Module, Monofacial modulesBifacial modules, EPC Solutions and O&M Solutions.

The company has five manufacturing units, all of which are situated in Hyderabad, Telangana, India.The clientele of the company includes NTPC, TATA Power Solar Systems Limited, Panasonic Life Solutions Private Limited (Panasonic), Continuum, Shakti Pumps, First Energy, Bluepine Energies Private Limited, Luminous, Hartek Solar Private Limited (Hartek), Green Infra Wind Energy Limited (a subsidiary of Sembcorp Green Infra Limited), Madhav Infra Projects Limited (Madhav), SolarSquare Energy Private Limited (SolarSquare) and Axitec Energy India Private Limited (Axitec).

The company has exported its products United States, Hong Kong, South Africa, Bangladesh, Norway, Nepal, France, Malaysia, Canada, Sri Lanka, Germany, Hungary, the United Arab Emirates, Uganda, Turkey, South Korea, China, Taiwan and Philippines.As of June 2024, the company had 1,447 employees and 3,278 Contract laborers.

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Premier Energies - Strength and Weakness

Strength

Premier Energies Limited is the second-largest manufacturer of solar cells and solar modules in India, and it is also the second-largest maker of integrated solar cells. Premier Energies has shown to be a leader in the solar energy industry, with an annual installed capacity of 2 GW for solar cells and 3.36 GW for solar modules.

Premier Energies has effectively entered the domestic content requirement (DCR) solar module market by utilising its integrated structure and profiting from government programs such as the CPSU scheme and the PM-KUSUM scheme. The company's intention to use joint ventures and strategic backward integration to increase manufacturing capabilities in the US further illustrates its dedication to international expansion and market penetration.

Through its journey from polycrystalline solar cells to monocrystalline PERC cells and now to TOPCon cell technology, Premier Energies has a strong commitment to technical developments. The company's technical skills and capacity to keep ahead of market trends are highlighted by its flexibility and innovation commitment, which have established it as a leader in the solar cell manufacturing industry.

Weakness

A sizable amount of Premier Energies Limited's revenue is derived from a limited number of clients. The financial viability of the business might be severely impacted by the loss of any important customers or revenue from them. The risk is raised by the potential for customers to switch to rivals or other products, which might lead to lower profits and revenue.

Premier Energies' business has a limited variety of products and is heavily dependent on the performance of solar cells and modules. The profitability and future prospects of the firm are significantly at stake due to factors impacting the market for solar technology, including cost-effectiveness, performance, and regulatory rules. Demand fluctuations or developments in alternative energy sources might have a detrimental effect on Premier Energies' earnings and competitive standing.

Because of its reliance on imported machinery, especially from China, the firm is vulnerable to a number of hazards, such as shifts in governmental regulations, tariffs, and interruptions in logistics. Any moderations in the importing procedure might cause operations to be delayed, which would affect manufacturing plans and general corporate operations. Furthermore, these risks might be made worse by concerns about upcoming trade agreements or customs taxes, which could have an impact on Premier Energies' financial stability and profitability.

Premier Energies - Promoter(s)

Pre Issue Share Holding: 72.22%

Post Issue Share Holding: 66.03%


Company Promoter(s)

  1. Surender Pal Singh Saluja
  2. Chiranjeev Singh Saluja

Premier Energies IPO - Issue Objectives

  1. 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)
  2. General corporate purposes

Premier Energies IPO - Anchor Investors

Premier Energies raises over Rs 846 crore via anchor book.

Global marquee investors Nomura Funds, Blackrock Institutional Trust Company, PGGM World Equity, Government Pension Fund Global, Abu Dhabi Investment Authority, Neuberger Berman Investment Funds, Morgan Stanley, BNP Paribas, Pioneer Investment Fund, Eastspring Investments, Carmignac Portfolio, and Allianz Global Investors Fund participated in the anchor book.

In addition, domestic fund houses like HDFC Mutual Fund, ICICI Prudential Mutual Fund, Nippon Life India, Ashoka Whiteoak ICAV, Kotak Mutual Fund, Axis Mutual Fund, Aditya Birla Sun Life Trustee, Mirae Asset, DSP Mutual Fund, Quant Mutual Fund, UTI Mutual Fund, Canara Robeco Mutual Fund, Tata Mutual Fund, Invesco India, Bandhan Mutual Fund, Sundaram Mutual Fund, Motilal Oswal Mutual Fund, and Manulife also invested in the company via anchor book.

Other Details

Company Contact Details

Premier Energies

Plot No. 8/B/1 and 8/B/2, E- City, Maheshwaram Mandal, Raviryala Village, K.V. Rangareddy-501359

Phone: + 91 90 3099 422

Email: investors@premierenergies.com

Website: https://www.premierenergies.com/

Registrar Contact Details

Kfin Technologies Limited

Phone: 04067162222, 04079611000

Email: pel.ipo@kfintech.com

Website: https://kosmic.kfintech.com/ipostatus/

Premier Energies IPO - FAQs

Ans. Premier Energies Limited IPO is a Mainboard IPO. The issue is priced at ₹427-450 per equity share. The minimum order quantity is 33 Shares. The IPO opens on Aug 27, 2024, and closes on Aug 29, 2024. Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Premier Energies Limited IPO opens on Aug 27, 2024 and closes on Aug 29, 2024.

Ans. The size of Premier Energies Limited IPO is Total ₹2,830.40 Cr : #Fresh Issue : 28,697,777 shares(aggregating up to ₹1,291.40 Cr) + #OFS : 34,200,000 shares of ₹1(aggregating up to ₹1,539.00 Cr).

Ans. The IPO price band is set between ₹427-450 per equity share.

Ans. To apply for Premier Energies Limited IPO IPO, follow the steps given below:

  • - Open the IPO Ji App or Website
  • - Find Premier Energies Limited IPO in the List of IPOs
  • - Press "Apply" Button
  • - Select Your Demat Account
  • - Select Your Shares Quantity and Submit
  • - Track Your IPO Status

Ans. The share allotment date of Premier Energies Limited IPO is Aug 30, 2024.

Ans. The Premier Energies Limited IPO will be listed on Sep 3, 2024.

Ans. Follow the steps to check the allotment status for Premier Energies Limited IPO here.