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Premier Energies IPO

  • Status: Closed
  • RHP:
  • ₹ 14,091 / 33 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    03 Sep 2024

  • Listing Price

    ₹991.00

  • Listing Change

    120.22%

  • Last Traded Price

    ₹1,294.85

IPO Details

  • Open Date

    27 Aug 2024

  • Close Date

    29 Aug 2024

  • IPO Price Range

    ₹ 427 to ₹ 450

  • IPO Size

    ₹ 2,830.40 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    03 Sep 2024

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Timeline Subscription Status Objective Financials SWOT FAQ Contacts

IPO Timeline

Premier Energies IPO Subscription Status

Last Updated: 30 August 2024 1:13 PM by 5Paisa

Last Updated: 29th August 2024, 6:10 PM by 5paisa

Premier Energies IPO is set to open on 27 August 2024 and will close on 29 August 2024. The company is engaged in the manufacturing of integrated solar cells and solar panels.

The IPO includes a fresh issue of 2,86,97,777 shares aggregating up to ₹1,291.40 Cr and it also includes an offer for sale of 3,42,00,000 shares aggregating up to ₹1,539 Cr. The price range is ₹427 to ₹450 per share and the lot size is 33 shares. 

The allotment is scheduled to be finalized on 30 August 2024. It will go public on BSE and NSE, with a tentative listing date of 03 September 2024.

Kotak Mahindra Capital Company Ltd, J.P. Morgan India Private Ltd and ICICI Securities Ltd are the book-running lead managers, while Kfin Technologies Ltd is the registrar. 
 

Premier Energies IPO Size

Types Size (₹Cr)
Total IPO size 2,830.40
Offer for sale 1,291.40
Fresh issue 1,539.00

 

Premier Energies IPO Lot Size

Application Lots Shares Amount (₹)
Retail (Min) 1 33 14,850
Retail (Max) 13 429 1,93,050
S-HNI (Min) 14 462 2,07,900
S-HNI (Max) 67 2,211 9,94,950
B-HNI (Min) 68 2,244 10,09,800

 

Premier Energies IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)
QIB 212.42 1,25,35,111 2,66,27,11,491 1,19,822.02
NII (HNI) 50.95 94,01,333 47,90,04,504 21,555.20
Retail 7.40 2,19,36,444 16,24,17,948 7,308.81
Total 74.97 4,41,06,533 3,30,67,60,578 1,48,804.23

 

Premier Energies IPO Anchor Allocation

Anchor Bid Date 26 August, 2024
Shares Offered 18,802,666
Anchor Portion Size (In Cr.) 846.12
Lock in Period for 50% shares (30 days) 29 September, 2024
Lock in Period for rest of shares (90 days) 28 November, 2024

 

1. 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.
2. General corporate purposes.
 

Incorporated in April 1995, Premier Energies Limited is engaged in the manufacturing of integrated solar cells and solar panels. The company’s product portfolio includes Solar Cells, Solar Modules, Monofacial Modules, Bifacial Modules, EPC Solutions, and O&M Solutions.

The company operates five manufacturing units, all located in Hyderabad, Telangana, India.

Premier Energies’ clientele includes renowned companies 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”).

As of July 31, 2024, the company held an order book worth ₹5,926.56 crores. This includes orders valued at ₹1,609.11 crores for non-DCR solar modules, ₹2,214.06 crores for DCR solar modules, ₹1,891.12 crores for solar cells, and ₹212.27 crores for EPC projects.

The company has successfully exported its products to several countries, including the 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 the Philippines.

As of June 2024, the company employed 1,447 individuals, alongside 3,278 contract laborers.

Peers

Websol Energy System Ltd
 

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY24 FY23 FY22
Revenue 3,171.31 1,463.21 767.03
EBITDA 505.32 112.88 53.74
PAT 231.36 -13.34 -14.41
Particulars (in Rs. Crores) FY24 FY23 FY22
Total Assets 3,554.13 2,110.69 1,341.49
Share Capital 26.35 26.35 26.35
Total Borrowings 1,392.24 763.54 453.3
Particulars (in Rs. Crores) FY24 FY23 FY22
Net Cash Generated From / (used in) operating activities 90.15 36.69 4.96
Net Cash Generated From / (used in) investing activities -446.63 -303.88 -217.93
Net Cash Generated From / (used in) financing activities 548.91 251.66 278.61
Net Increase (Decrease) In Cash And Cash Equivalents 192.43 15.53 65.65


Strengths

1. It has over two decades of experience in the solar energy sector, making Premier Energies a trusted name.
2. It offers a comprehensive range of solar products including cells, modules, and EPC solutions, catering to diverse customer needs.
3. It is trusted by major clients like NTPC, TATA Power, Panasonic, and Luminous, highlighting industry reliability.
4. It exports to over 20 countries, strengthening its global footprint in the solar industry.
5. As of July 2024, the company has a substantial order book of ₹5,926.56 crores, reflecting strong future revenue visibility.
 

Risks

1. It faces stiff competition from both domestic and international solar companies, which could pressure margins.
2. A significant portion of revenue comes from a few key clients, leading to potential revenue concentration risk.
3. The solar industry is subject to changing government policies and incentives, which could impact business operations.
4. Dependence on raw material availability and price fluctuations could impact profitability.
5. Global economic downturns or market instability may affect expansion plans and financial performance. 
 

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FAQs

Premier Energies IPO opens from 27th August to 29th August 2024.

The size of Premier Energies IPO is ₹2,830.40 Cr.

The price of Premier Energies IPO is fixed at ₹427 to ₹450 per share. 

To apply for Premier Energies IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Premier Energies IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    

You will receive a mandate notification to block funds in your UPI app.
 

The minimum lot size of Premier Energies IPO is 33 shares and the investment required is ₹14,850.
 

The share allotment date of Premier Energies IPO is 30th August 2024

The Premier Energies IPO will be listed on 03rd September 2024.

Kotak Mahindra Capital Company Ltd, J.P. Morgan India Private Ltd and ICICI Securities Ltd are the book-running lead managers for Premier Energies IPO.
 

Premier Energies plans to utilize the raised capital from the IPO for:

1. 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.
2. General corporate purposes.