Premier Energies IPO is a book built issue of Rs 2,830.40 crores. The issue is a combination of fresh issue of 2.87 crore shares aggregating to Rs 1,291.40 crores and offer for sale of 3.42 crore shares aggregating to Rs 1,539.00 crores.
Premier Energies IPO opens for subscription on August 27, 2024 and closes on August 29, 2024. The allotment for the Premier Energies IPO is expected to be finalized on Friday, August 30, 2024. Premier Energies IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, September 3, 2024.
Premier Energies IPO price band is set at ₹427 to ₹450 per share. The minimum lot size for an application is 33 Shares. The minimum amount of investment required by retail investors is ₹14,850. The minimum lot size investment for sNII is 14 lots (462 shares), amounting to ₹207,900, and for bNII, it is 68 lots (2,244 shares), amounting to ₹1,009,800.
Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and ICICI Securities Limited are the book running lead managers of the Premier Energies IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Premier Energies IPO RHP for detailed information.
Premier Energies IPO Details
| IPO Date | August 27, 2024 to August 29, 2024 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Price Band | ₹427 to ₹450 per share |
| Lot Size | 33 Shares |
| Total Issue Size | 62,897,777 shares (aggregating up to ₹2,830.40 Cr) |
| Fresh Issue | 28,697,777 shares (aggregating up to ₹1,291.40 Cr) |
| Offer for Sale | 34,200,000 shares of ₹1 (aggregating up to ₹1,539.00 Cr) |
| Employee Discount | Rs 22 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 422,065,168 |
| Share holding post issue | 450,762,945 |
Premier nergies IPO ReservationE
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Premier Energies IPO Timeline (Tentative Schedule)
Premier Energies IPO opens on August 27, 2024, and closes on August 29, 2024.
| IPO Open Date | Tuesday, August 27, 2024 |
| IPO Close Date | Thursday, August 29, 2024 |
| Basis of Allotment | Friday, August 30, 2024 |
| Initiation of Refunds | Monday, September 2, 2024 |
| Credit of Shares to Demat | Monday, September 2, 2024 |
| Listing Date | Tuesday, September 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 29, 2024 |
Premier Energies IPO Lot Size
Investors can bid for a minimum of 33 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 33 | ₹14,850 |
| Retail (Max) | 13 | 429 | ₹193,050 |
| S-HNI (Min) | 14 | 462 | ₹207,900 |
| S-HNI (Max) | 67 | 2,211 | ₹994,950 |
| B-HNI (Min) | 68 | 2,244 | ₹1,009,800 |
| Lot Size Calculator | |||
Premier Energies IPO Promoter Holding
The promoters of the company are Surender Pal Singh Saluja and Chiranjeev Singh Saluja.
| Share Holding Pre Issue | 72.22% |
| Share Holding Post Issue | 66.03% |
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 modulesBifacial modules, EPC Solutions and O&M Solutions.
The company has five manufacturing units, all of which are situated in Hyderabad, Telangana, India.
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”).
As of July 31, 2024, the company had an order book of ?59,265.65 million. This total included ?16,091.14 million for non-DCR solar modules, ?22,140.60 million for DCR solar modules, ?18,911.18 million for solar cells, and ?2,122.72 million for EPC projects.
The company has exported its products 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.
As of June 2024, the company had 1,447 employees and 3,278 Contract laborers.
Company Financials
Premier Energies Limited Financial Information (Restated Consolidated)
| Period Ended | 30 Jun 2024 | 21 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 3,735.5 | 3,554.13 | 2,110.69 | 1,341.49 | ||||||||||||||||||||||||||||||||||||
| Revenue | 1,668.79 | 3,171.31 | 1,463.21 | 3,735.5 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 198.16 | 231.36 | -13.34 | -14.41 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 26.96 | 36.49 | -0.24 | -0.51 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 255.73 | 455.76 | 224.4 | 209.2 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 1,200.16 | 1,392.24 | 763.54 | 453.3 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
The market capitalization of Premier Energies IPO is Rs 20284.33 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 43.73% |
| ROCE | 25.65% |
| Debt/Equity | 1.86 |
| RoNW | 37.46% |
| P/BV | 30.76 |
| PAT Margin (%) | 7.3 |
Check Premier Energies IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.48 | 17.58 |
| P/E (x) | 82.09 | 25.59 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 21, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2024 that is available in RHP.
Objects of the Issue (Premier Energies IPO Objectives)
The company proposes to utilize the net proceeds, being the gross proceeds of the Fresh Issue less the Offer related expenses (“Net Proceeds”), towards funding the following objects (collectively, the “Objects”):
- 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
Premier Energies IPO Prospectus
Premier Energies Limited Contact Details
Premier Energies Limited
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: investors@premierenergies.com
Website: https://www.premierenergies.com/
Premier Energies IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: pel.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/