Premier Energies IPO : If you invest in the IPO market, then keep an eye on the IPO of Premier Energies, a leading company working in the solar industry. This IPO is opening on Tuesday i.e. 27 August 2024. Even before the IPO opens, there is a tremendous craze in the gray market about it. The unlisted stock of the company is trading at a 73 percent premium in the gray market. This is an indication of a better future for the stock. Talking about the industry outlook, the Government of India is focused on Naru Energy. In such a situation, there are big growth opportunities for companies working on new energy including solar energy. Due to this, the demand for investment options related to the new energy sector is also increasing among investors. This IPO will close on August 29.
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What is the strength of the company
- Focus on expanding overseas presence through strategic backward integration of the production chain and setting up manufacturing capabilities outside India and increasing exports especially to the US market.
- Integrated solar cell and solar module manufacturer.
- Long track record in the solar module manufacturing sector.
- Experienced in solar cell line production.
- Diversified customer base with client relationships in both India and overseas with a strong order book.
- Senior Management Team led by experienced Promoter.
- Development and growth of its rooftop solar energy offering.
- Take advantage of available market opportunities to grow domestic business.
- Expanding and upgrading manufacturing capabilities using the latest technology.
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Government’s focus on solar energy
Brokerage house Axis Securities says that the Indian government plans to achieve 500 GW of clean energy by CY2030, of which 300 GW will come from solar energy. Based on recent government announcements, it is estimated that India’s annual solar capacity growth is likely to double in the next 2 to 3 years. India is endowed with huge solar energy potential. About 5,000 trillion kWh of NG flows annually in India and most parts get 4-7 kWh per square meter of energy per day.
Solar PV based power can be used on a utility scale and also on a more distributed basis to meet electricity, heating and cooling demand in both rural and urban areas. Premier Energies is an integrated solar cell and solar module manufacturer with 29 years of experience. It has an annual installed capacity of 2 GW for solar cells and 4.13 GW for solar modules.
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Price Band and IPO Size
Premier Energies has fixed a price band of Rs 427-450 per share for its IPO. The size of the IPO of solar cell and module manufacturer Premier Energies Limited is Rs 2830 crore. In this, fresh equity shares worth up to Rs 1291.4 crore will be issued, while 3.42 crore shares will be sold through Offer for Sale (OFS). This issue will open for anchor (large) investors on August 26.
GMP and lot size
The unlisted stock of Premier Energies is seen at a premium of Rs 330 in the grey market, which is 73 per cent in terms of the upper price band of Rs 450. There are 33 shares in one lot size in the IPO. In terms of the upper price band, retail investors will have to invest a minimum of Rs 14,850. At the same time, retail investors can invest Rs 1,93,050 for a maximum of 13 lots.
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How much reserve for whom
In the IPO of Premier Energies, 35% share has been reserved for retail investors. Whereas 50% share is reserved for qualified institutional buyers. While 15% share is reserved for non-institutional investors. Employees get a discount of Rs 22 per share in the IPO.
How are the company’s financials
Talking about the finances of Premier Energies, the company’s revenue in the financial year 2023 was Rs 1463.21 crore, while the expense was Rs 1472.19 crore. Then the company had a loss of Rs 13.34 crore in a year. In the financial year 2024, the company’s revenue was Rs 3171.31 crore, while the expense was Rs 2883.26 crore. Then the company had a profit of Rs 231.36 crore in a year. In the June quarter of the financial year 2025, the company’s revenue was Rs 1668.79 crore, expense was Rs 1423.72 crore and profit was Rs 198.16 crore.
(Disclaimer: The views or advice on the stock are given by experts and brokerage houses. These are not the personal views of Financial Express. There are risks in the market, so take expert advice before investing.)
