Premier Energies IPO Subscription Status

Premier Energies IPO - Day 3 Subscription at 13.69 times

Premier Energies IPO will close on 29th August 2024. Shares of Premier Energies will likely be listed on 3rd September on BSE and NSE. As of 29th August 2024, Premier Energies IPO received bids for 60,39,58,278 shares, much more than the 4,41,06,533 shares offered. This means Premier Energies IPO was oversubscribed 13.69 times by the end of day 3.

Here are the subscription details for Premier Energies IPO as of Day 3 (29th August 2024 at 12:17:09 PM):

Premier Energies IPO subscription was mainly driven by HNI / NII investors on day 3, followed by QIB investors. Retail investors and employees also showed significant interest. QIBs and HNIs/NIIs generally increase their subscriptions in the final hours of the last day. Overall subscription figures do not include the anchor investor portion of the IPO.

QIBs are large institutional investors, such as mutual funds and insurance companies, while HNIs/NIIs are wealthy individual investors and smaller institutions. The NII category is further divided into big NIIs (bNII) for bids above ₹10 lakhs and small NIIs (sNII) for bids below ₹10 lakhs.

Subscription Status of Premier Energies IPO for Days 1, 2, and 3:

On day 1, Premier Energies IPO was subscribed 2.16 times. By day 2, the subscription status had risen to 6.72 times; on day 3, it reached 13.69 times. The subscription rate showed a significant increase across all investor categories over the three-day period.

Here are the detailed subscription details for Premier Energies IPO by category as of Day 3:

Premier Energies's IPO received a varied response from different investor categories. The Anchor Investor portion was fully subscribed. Qualified Institutions subscribed 13.59 times, Non-Institutional Investors (NIIs) subscribed 32.99 times, with bNIIs showing higher interest at 37.11 times compared to sNIIs at 24.75 times. Retail Investors subscribed 5.53 times, while the Employee portion was subscribed 8.83 times. Overall, Premier Energies IPO was subscribed 13.69 times on Day 3, indicating strong investor interest across categories.

Premier Energies IPO - Day 2 Subscription at 6.72 Times

Premier Energies IPO will close on 29th August 2024. Shares of Premier Energies will likely be listed on 3rd September on BSE and NSE. As of 28th August 2024, Premier Energies IPO received bids for 29,63,91,942 shares much more than the 4,41,06,533 shares offered. It means Premier Energies IPO was oversubscribed 6.72 times by the end of day 2.

Here are the subscription details for Premier Energies IPO as of Day 2 (28th August 2024 at 5:00 pm):

Premier Energies IPO subscription was mainly driven by HNI / NII investors on day 2, followed by retail investors and employees. QIBs showed moderate interest. Overall subscription figures do not include the anchor investor portion of the IPO.

Here are the detailed subscription details for Premier Energies IPO by category as of Day 2:

Premier Energies IPO - Day 1 Subscription at 2.16 Times

Premier Energies IPO will close on 29th August 2024. Shares of Premier Energies Limited are likely to be listed on 3rd September 2024. Shares of Premier Energies Limited will make a trading debut on the BSE and NSE. On 27th August 2024, Premier Energies IPO received bids for 9,52,70,111 shares, much more than the 4,41,06,533 shares available. This means that Premier Energies IPO was subscribed 2.16 times by the end of Day 1.

Here are the subscription details for Premier Energies IPO as of Day 1 (27th August 2024 at 5:00 pm):

Premier Energies IPO subscription was mainly driven by HNI / NII investors, followed by retail investors. QIBs showed minimal interest on the first day, while there were no bids from employees. The overall subscription numbers exclude the anchor investor portion of the IPO.
 

Here are the detailed subscription details for Premier Energies IPO by category as of Day 1:

About Premier Energies Limited

Incorporated in April 1995, Premier Energies Limited manufactures integrated solar cell and solar panel. The company's product portfolio includes Cell, Solar Module, Monofacial modules, Bifacial modules, EPC Solutions and O&M Solutions.

The company has five manufacturing units, all of which are situated in Hyderabad, Telangana, India. Premier Energies' customer base includes major players in the energy sector such as NTPC, TATA Power Solar Systems Limited, Panasonic Life Solutions Private Limited, Continuum, Shakti Pumps, and several others.

As of July 31, 2024, the company had an impressive order book of ₹59,265.65 million, demonstrating strong demand for its products and services. Premier Energies has also expanded its reach globally, exporting its products to various countries including the United States, Hong Kong, South Africa, Bangladesh, and several European nations.
As of June 2024, the company employed 1,447 permanent employees and 3,278 contract laborers, highlighting its significant operational scale.

Highlights of the Premier Energies IPO

• IPO type: Book Built Issue
• IPO size: ₹2,830.40 crores
• Fresh issue: 2.87 crore shares aggregating to ₹1,291.40 crores
• Offer for Sale: 3.42 crore shares aggregating to ₹1,539.00 crores
• Face value: ₹1 per share
• Price band: ₹427 to ₹450 per share
• Lot size: 33 shares
• Minimum investment for retail investors: ₹14,850
• Minimum investment for sNII: 14 lots (462 shares), ₹207,900
• Minimum investment for bNII: 68 lots (2,244 shares), ₹1,009,800
• Employee reservation: 233,644 shares with a discount of ₹22 to the issue price
• Listing at: BSE, NSE
• IPO opens: 27th August 2024
• IPO closes: 29th August 2024
• Allotment date: 30th August 2024
• Listing date: 3rd September 2024
• Book Running Lead Managers: Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, ICICI Securities Limited
• Registrar: Kfin Technologies Limited