If you are looking to earn from the stock market, this news could be of great interest to you. A solar panel manufacturing company is presenting an excellent opportunity, with analysts estimating a potential profit of ₹300 per share. The Initial Public Offering (IPO) of Premier Energies Limited, a company specializing in integrated solar cells and solar panels, will open today, August 27. Investors can apply for this IPO until August 29. Currently, there is a significant demand for this IPO in the gray market, where it was trading at a premium of ₹330 in the unlisted market as of August 26.
Targeting ₹2,830 Crores Fundraising
The company aims to raise ₹2,830.40 crores through this IPO. The price band for the shares is set between ₹427 and ₹450, and the lot size is 33 shares. Following the closure of the IPO, the shares are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 3.
Investment Requirements
The price band for Premier Energies’ IPO has been defined between ₹427 and ₹450 per share. To participate, investors must apply for a minimum of 33 shares, which translates to a minimum investment of ₹14,850 for retail investors. The allocation of shares for the IPO is expected to be finalized by Friday, August 30, with a planned listing date of September 3 on both BSE and NSE.
Issuance of 2.87 Crore New Shares
This IPO will see the issuance of 2.87 crore new shares valued at ₹1,291.40 crores. Additionally, there will be an Offer For Sale (OFS) of shares worth ₹1,539 crores comprising 3.42 crore shares. The Book Running Lead Managers for this issue include Kotak Mahindra Capital Company, JP Morgan India Private Limited, and ICICI Securities Limited. The registrar for this IPO is Kfin Technologies Limited.
Profitable Signals from the Gray Market
In the gray market, Premier Energies shares are trading at a premium of 74% over the upper price band of ₹450, indicating a market price of approximately ₹780 per share upon listing. It’s worth noting that gray markets operate without authorization and allow trading of a company’s shares until they officially list.
Summary of Premier Energies IPO Details
| Details | Information |
|---|---|
| IPO Opening Date | August 27, 2023 |
| IPO Closing Date | August 29, 2023 |
| Price Band | ₹427 – ₹450 per share |
| Lot Size | 33 shares |
| Minimum Investment | ₹14,850 |
| Expected Listing Date | September 3, 2023 |
| New Shares Issued | 2.87 crore shares |
| Offer for Sale | 3.42 crore shares |
(Disclaimer: Investing in IPOs or the stock market involves risks. If you are considering making an investment, it is advisable to consult a certified investment advisor first. TV9 Bharatvarsh does not hold any responsibility for your investments. We provide this information solely for your understanding.)
