Premier Energies IPO: Launches August 27 on BSE & NSE, GMP Signals Strong Debut—Here’s All You Need to Know

Premier Energies is set to launch its Initial Public Offering (IPO) on August 27, with the subscription window open until August 29. The company, which specialises in manufacturing solar cells and solar panels, has priced its shares between ₹427 and ₹450 each, with a face value of ₹1.

In the grey market, Premier Energies shares are currently trading at a premium of ₹330 per share, according to investorgain.com. This suggests that the IPO could list at around ₹780 per share, which is 73.33% higher than the upper issue price of ₹450. The grey market premium (GMP) indicates a potentially strong debut on the stock exchange. GMP values have ranged from ₹190 to ₹330.

Premier Energies’ IPO details:

• Total Issue Size: ₹2,830.40 crore
• Fresh Issue: 2.87 crore shares, raising ₹1,291.40 crore
• Offer for Sale: 3.42 crore shares, worth ₹1,539 crore
• Price Band: ₹427 to ₹450 per share
• Minimum Investment: 33 shares, costing ₹14,850 for retail investors

The IPO allotment is expected to be finalised on August 30, with the shares likely to be listed on the BSE and NSE on September 3. The IPO has allocated 50% of shares for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.

Kotak Mahindra Capital, J.P. Morgan India, and ICICI Securities are the lead managers for the IPO, with Kfin Technologies as the registrar.