Premier Energies Limited is a prominent player in the solar energy industry, boasting 29 years of experience. The company is primarily engaged in the integrated manufacturing of solar cells and modules, with a focus on innovative and high-efficiency solar technologies.
Issuance Period :
Premier Energies IPO opens for subscription on August 27, 2024 and closes on August 29, 2024. The allotment for the Premier Energies IPO is expected to be finalized on Friday, August 30, 2024.
Premier Energies IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, September 3, 2024.
IPO Size :
Total amount to be raised Rs 2,830.40 crores.
GMP ( Grey /market Premium )
Current GMP is 280 rupees per share as on 23 august 2024, In Percentage is 62.00%.
Current GMP is 336 rupees per share as on 26 august 2024, In Percentage is 74.00%.
Current GMP is 358 rupees per share as on 27 august 2024, In Percentage is 79.00%.
Current GMP is 390 rupees per share as on 28 august 2024, In Percentage is 86.60%.
Current GMP is 396 rupees per share as on 29 august 2024, In Percentage is 88.00%. Current GMP is ₹475 rupees per share as on 31 august 2024, In Percentage is 105.56%.
Lot Size :
Premier Energies IPO price band is set at ₹427 to ₹450 per share. The minimum lot size for an application is 33 Shares. The minimum amount of investment required by retail investors is ₹14,850.
The minimum lot size investment for sNII is 14 lots (462 shares), amounting to ₹207,900, and for bNII, it is 68 lots (2,244 shares), amounting to ₹1,009,800.
Table of Contents
IPO Details :
| Detail | Information |
|---|---|
| IPO Date | August 27, 2024 to August 29, 2024 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Price Band | ₹427 to ₹450 per share |
| Lot Size | 33 Shares |
| Total Issue Size | 62,897,777 shares (aggregating up to ₹2,830.40 Cr) |
| Fresh Issue | 28,697,777 shares (aggregating up to ₹1,291.40 Cr) |
| Offer for Sale | 34,200,000 shares of ₹1 (aggregating up to ₹1,539.00 Cr) |
| Employee Discount | ₹22 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding Pre-Issue | 422,065,168 |
| Shareholding Post-Issue | 450,762,945 |
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”); *
- General corporate purposes
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About Company :
Premier Energies Limited, established in April 1995, is a leading manufacturer of integrated solar cells and solar panels, with a diverse product portfolio that includes solar modules, both mono facial and bifacial, as well as EPC and O&M solutions.
The company operates five manufacturing units, all located in Hyderabad, Telangana,
and serves a wide range of clients, including NTPC, TATA Power, Panasonic, and Sembcorp, among others.
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.
Premier Energies Financial Information :
| Period Ended | 30 Jun 2024 | 21 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | ₹3,735.50 Cr | ₹3,554.13 Cr | ₹2,110.69 Cr | ₹1,341.49 Cr |
| Revenue | ₹1,668.79 Cr | ₹3,171.31 Cr | ₹1,463.21 Cr | ₹3,735.50 Cr |
| Profit After Tax | ₹198.16 Cr | ₹231.36 Cr | -₹13.34 Cr | -₹14.41 Cr |
| Net Worth | ₹26.96 Cr | ₹36.49 Cr | -₹0.24 Cr | -₹0.51 Cr |
| Reserves and Surplus | ₹255.73 Cr | ₹455.76 Cr | ₹224.40 Cr | ₹209.20 Cr |
| Total Borrowing | ₹1,200.16 Cr | ₹1,392.24 Cr | ₹763.54 Cr | ₹453.30 Cr |
Here’s a quick look at Premier Energies Limited IPO’s strengths, weakness, opportunities and risks.
Strengths and opportunities
- Established Expertise in Renewable Energy: Premier Energies has a strong track record in the renewable energy sector, particularly in solar PV manufacturing, which positions it well for future growth.*
- Strategic Investment in Advanced Technologies: The planned 4 GW Solar PV TOPCon Cell and Module manufacturing facility will enhance production capacity and efficiency, leveraging cutting-edge technology.*
- Strong Market Demand: Increasing global focus on renewable energy sources, particularly solar, provides a robust market demand for Premier Energies’ products.*
- Growing Demand for Solar Energy: With an increasing global emphasis on sustainable energy, a rising demand for solar PV products offer significant growth potential.
Risks and threats
- High Capital Expenditure: Establishing the new manufacturing facility requires substantial capital investment, which could strain financial resources and impact short-term profitability.*
- Dependence on Regulatory Support: The company’s success is closely tied to government policies and incentives for renewable energy, which can fluctuate and affect business operations. *
- Market Competition: The solar energy sector is highly competitive, with many players vying for market share, which could pressure pricing and margins.
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