Premier Energies Ltd IPO Opens On August 27. Check IPO Details Issue Date Price

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Premier Energies Ltd IPO Opens On August 27. Check IPO Details Issue Date Price

August 26, 2024
Premier Energies Ltd IPO Opens On August 27. Check IPO Details Issue Date Price

Premier Energies Limited is coming out with an initial public offer to raise Rs. 2830 crores from the market.

Below are the details of the Premier Energies Limited IPO:

  • Issue opens – August 27 (Tuesday)
  • Issue closes – August 29 (Thursday)
  • Issue size – Rs. 2830 crores
  • Price band – Rs. 427 to 450 per equity share
  • Bid lot – 33 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Premier Energies Limited is primarily an integrated solar cell and solar module manufacturer with 29 years of experience in the solar industry. Their business operations include:
  • i) the manufacturing of solar photovoltaic (“PV”) cells, in particular bifacial monocrystalline PERC cells using the M10 wafer size in a 182mm x 182mm format which may be assembled into solar modules;
  • (ii) the manufacturing of solar modules using different module technologies such as monocrystalline PERC and TOPCon, cell sizes and quantity, power output ranges and formats such as monofacial and bifacial. They also manufacture custom made modules for specific applications;
  • (iii) the sale of customizable and ad hoc solar-related products depending on customer requirements such as customized bespoke solar tiles;
  • (iv) the execution of EPC projects which include end-to-end solar services for ground-mounted, rooftop, floating, canal bank, canal top and hybrid power generation systems;
  • (v) the provision of O&M services with respect to EPC projects executed by them; and (vi) independent power production through their 2 MW solar power plant in Jharkhand, India.
  • As of the date of this Red Herring Prospectus, they have five manufacturing facilities, all of which are situated on land that they own, in Hyderabad, Telangana, India. Combined, their manufacturing facilities have an annual installed capacity of 2 GW for solar cells and 4.13 GW for solar modules as of the date of this Red Herring Prospectus. Their Unit II manufacturing facility is India’s first LEED gold rated solar manufacturing facility as certified by the U.S. Green Building Council (“USGBC”) v4 Building Design and Construction: New Construction and Major Renovations in August 2022.
  • Their key customers across their business offerings include several IPPs, OEMs and off-grid operators such as 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”).

Issue Size : Rs. 2830 Crores

Employee Reservation: Equity shares aggregating up to Rs. 10 / - crores

Employee Discount: Rs. 22 per share

Issue break-up :

QIB – 50% of the offer – Rs. 1410.20 Cr.
NIB – 15 % of the offer – Rs. 423.06 Cr.
RET – 35% of the offer – Rs. 987.14 Cr.

Listing : BSE & NSE

Registrar : KFin Technologies Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Thursday, 29th August 2024.

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