Premier Energies IPO: Hyderabad Solar Giant Secures ₹846 Crore from Anchor Investors Before Public Launch

Premier Energies, a Hyderabad-based company known for manufacturing solar cells and modules, has successfully raised ₹846 crore from anchor investors ahead of its initial public offering (IPO) set to open on August 27.

In a recent filing, the company revealed that it has allocated 18,802,666 equity shares to anchor investors at a price of ₹450 per share.

The company stated, “The Board of Directors, in consultation with the Book Running Lead Managers, has finalized the allocation of 18,802,666 equity shares to anchor investors at a price of ₹450 per share, including a share premium of ₹449.”

Notable participants in this anchor round included HDFC Mutual Fund, Nomura Funds Ireland, Abu Dhabi Investment, Nippon Life India Trustee, Kotak Mahindra, and Axis Mutual. Out of the total allocation, 8,834,356 shares (46.98% of the anchor allocation) were given to 17 domestic mutual funds.

Premier Energies IPO Details

Premier Energies’ IPO will be open for public subscription from Tuesday, August 27, to Thursday, August 29. The IPO includes a fresh issue of 2.87 crore shares worth ₹1,291.40 crore and an offer for sale of 3.42 crore shares totaling ₹1,539.00 crore. Altogether, the IPO aims to raise ₹2,830.40 crore.

The company has set the price range for the IPO between ₹427 and ₹450 per share, with a face value of ₹1 per share. Investors can apply for a minimum of 33 shares, requiring an investment of at least ₹14,850.

The allotment of shares is expected to be finalized on Friday, August 30, with the company’s shares likely to list on the BSE and NSE on Tuesday, September 3. Refunds for those who do not receive shares may be processed by Monday, September 2.

KFin Technologies is handling the registrar duties for the IPO, while Kotak Mahindra Capital Company, JP Morgan India Private Limited, and ICICI Securities are serving as the lead managers.