Important Update: Premier Energies IPO Allotment
The eagerly awaited day has arrived. Today, the allotment status for Premier Energies IPO shares will be finalized. This public offering, priced between Rs 427 and Rs 450 per share, closed for subscription just yesterday. The IPO saw an exceptional level of interest from investors, with an overall subscription rate hitting an astounding 74.38 times by the final day.
Initial Public Offering (IPO)
Heavy Demand from Investors
It was the Qualified Institutional Buyers (QIBs) who led the charge, with their portion being subscribed a massive 216.67 times. Non-institutional investors (NIIs) weren’t far behind, subscribing 50.04 times, and the retail investors’ segment saw a subscription of 7.69 times. Such incredible demand underscores the strong confidence investors have in the company’s prospects.
Brokerages Shine Positive on Premier Energies
The IPO has also received glowing reviews from various brokerages, including Reliance Securities, Deven Choksey, Anand Rathi Research, Choice, Geojit, Canara Bank Securities, and Swastika Investmart.
How to Check Your Allotment Status
Wondering how to know if you’ve got a piece of the Premier Energies pie? Once the shares are allotted, investors can easily check their status through the official sites of BSE, NSE, or the registrar for the issue, Kfin Technologies. Here are the direct links to make it even simpler:
- Check Premier Energies IPO Allotment Status on BSE
- Check Premier Energies IPO Allotment Status on Kfin Technologies
- Check Premier Energies IPO Allotment Status on NSE
Grey Market Buzz
Before its stock exchange debut, Premier Energies’ unlisted shares are already creating quite a buzz. They are currently trading at a premium of around Rs 421, a 93.56% increase over the upper end of the IPO price. This pre-listing activity is a strong indicator of a highly positive market reception upon listing.
What to Expect on Listing Day
Mark your calendars for Tuesday, September 3, 2024. That’s the day Premier Energies shares make their debut on the BSE and NSE. If the current Grey Market Premium (GMP) holds, the shares are expected to list at approximately Rs 871 (GMP + Issue Price). This could mean a potential return of over 93% for those lucky enough to get an allotment.
Who is Premier Energies?
If you aren’t familiar yet, Premier Energies is a significant player in the solar energy sector. They are an integrated manufacturer of solar PV cells and modules, customized for various applications. From ground-mounted to rooftop systems, and even floating and hybrid power generation systems, they cover it all. They provide comprehensive solar services, including operations and maintenance (O&M) for executed projects.
Premier Energies also has a range of customized products like bespoke solar tiles. On top of that, they operate as an independent power producer, generating 2 MW of solar power from their plant in Jharkhand.
