The price range for Premier Energies Limited’s upcoming IPO has been set between ₹427 and ₹450 per share, each with a face value of ₹1. The IPO will open for subscription on Tuesday, August 27, and will close on Thursday, August 29. On Monday, August 26, the company will allocate shares to anchor investors.
The floor price is 427 times, and the cap price is 450 times the face value of the equity shares.
In this IPO, 50% of the shares are reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors. Employees eligible for the employee reservation portion can buy shares at a ₹22 discount per share.
The finalisation of share allotment is expected on Friday, August 30. Refunds will start on Monday, September 2, with shares credited to the allottees’ demat accounts the same day.
Premier Energies Limited, established in April 1995, focuses on manufacturing solar cells and panels. They offer products like monofacial and bifacial modules and provide EPC (Engineering, Procurement, and Construction) and O&M (Operations & Maintenance) services.
The company has five manufacturing facilities, all based in Hyderabad, Telangana, India. Their clients include NTPC, TATA Power Solar Systems Ltd, Panasonic Life Solutions Private Ltd, and Madhav Infra Projects Ltd. Premier Energies has also exported its products to various countries, including the United States, South Africa, France, Canada, Germany, the UAE, and more.
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