Premier Energies Limited IPO

Timeline

Open Date	Aug 27,2024
Close Date	Aug 29,2024
Allotment Date	Aug 30,2024
Listing Date	Sep 03,2024

                                  

IPO Details

Issue Price	₹427 to 450 per share
Face Value	₹1 per share
Issue Size	Total ₹2,830.40 Cr (62,897,777 shares): #Fresh Issue: aggregating upto ₹1,291.40 Cr (28,697,777 shares) #OFS: aggregating upto ₹1,539.00 Cr (34,200,000 shares of ₹1)
Listing at	BSE, NSE

 

IPO Lot Size

Category	Lots	Shares	Amount
Retail:	1	33	₹14,850
S-HNI:	14	462	₹207,900
B-HNI:	68	2,244	₹1,009,800

 

IPO Reservation

• Retail Portion is 35% having number of applications: 6,64,670 Approx
• Number of S-HNI Applications: 6,784 Approx
• Number of B-HNI Applications: 13,566 Approx

About the Company

Premier Energies Limited is all set to launch its Initial Pubilc Offering (IPO).The company’s shares were trading at a premium of 83% in the grey market on the day the IPO was opened to investors for subscription.’Grey market premium’ indicates investors’ readiness to pay more than the issue price.Company has reserved shares worth Rs 10 crore for the eligible employees of the company, who will get a discount of Rs 22 per share.Premier Energies had an order book of Rs 5,926.57 crore, as of July 31, 2024.

Premier Energies Limited was incorporated in April 1995, it manufactures integrated solar cell and solar panel. The company’s product offerings 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 company has exported its products in 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.

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 had 1,447 employees and 3,278 Contract laborers as of June 2024.

Financial Information

Particulars	30 Jun 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	3,735.50	3,554.13	2,110.69	1,341.49
Revenue	1,668.79	3,171.31	1,463.21	767.03
Profit After Tax	198.16	231.36	-13.34	-14.41
Net Worth	26.96	36.49	-0.24	-0.51
Reserve & Surplus	255.73	455.76	224.40	209.20
Total Borrowing	1,200.16	1,392.24	763.54	453.30
Amount in ₹ Crore

 

 

Key Performance Indicator (KPI as of March 31,2024)

The market capitalization of Premier Energies Limited  is Rs 20284.33 Cr.                                      

KPI	Values
RoNW	37.46%
ROE	43.73%
ROCE	25.65%
Debt/Equity	1.86
P/BV	30.76
PAT Margin (%)	7.3

 

	Pre IPO	Post IPO
EPS (₹)	5.48	17.58
P/E (x)	82.09	25.59

 

Promoter’s Holding

The promoters of the company are:

• Surender Pal Singh Saluja
• Chiranjeev Singh Saluja

Share Holding Pre Issue	72.22%
Share Holding Post  Issue	66.03%

 

Issue Objectives

The company proposes to utilise the funds for the following purposes:

• 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”); and
• General corporate purposes

Anchor Investor Details

Premier Energies Limited raises Rs 846.12 crore from anchor investors.

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.

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.

Lead Managers

• Kotak Mahindra Capital Compnay Limited
• P. Morgan India Private Limited
• ICICI Securities Limited

IPO Prospectus

• IPO DRHP
• IPO RHP
• IPO Anchor Investors

Company Contact Details                                                                                                      

Name: Premier Energies Limited Address: 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: [email protected] Website: https://www.premierenergies.com/

 

IPO Registrar

Name: Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: [email protected] Website: https://kosmic.kfintech.com/ipostatus/

 

Disclaimer

The financial information is provided above is not an advice to buy or sell securities or invest in IPOs. All information published here is purely for educational and information purposes only.

The grey market premium in this website is based on the market rumors. It is not guaranteed indicator of the actual listing price and should be interpreted with caution.

We are not a SEBI Registered analyst. Readers must consult a qualified financial advisor prior to making any investment decisions, based on information published on this website.