If you’re considering investing in an IPO, there’s some news for you. Premier Energies Limited, a company that makes solar cells and modules, is launching its IPO next week.
The IPO will be open for investment from August 27 to August 29. The price per share has been set between Rs 427 and Rs 450.
Details About the IPO
Premier Energies Limited is based in Hyderabad and will launch its Rs 2,830 crore IPO on August 26.
The IPO includes fresh shares worth Rs 1,291.4 crore and an offer for sale (OFS) of 3.42 crore shares. The total size of the IPO is Rs 2,830 crore.
Premier Energies has been in the solar business for 29 years, with an annual capacity of two gigawatts for solar cells and 4.13 gigawatts for solar modules.
The company serves various customers like NTPC, Tata Power Solar Systems Limited, Panasonic Life Solutions Private Limited,
and Madhav Infra Projects Limited. It also exports to countries such as the United States, Hong Kong, South Africa, and many others.
Grey Market Premium (GMP) Insight
According to Investorgain.com, Premier Energies Limited IPO is trading at a premium of Rs 190 in the grey market.
This suggests that the shares might be listed at around Rs 640, offering a potential profit of about 43% from the upper price band of Rs 450.
The shares are expected to be listed on September 3. The basis for share allotment will be finalized on August 30, and refunds will be initiated on September 2.
