Premier Energies IPO subscription started on 27 August 2024 and will close on 29 August 2024. Premier Energies plans to raise around INR 2,830.4 crores via the IPO. The price band is fixed at INR 427 – 450 per share. Premier Energies IPO market lot has 33 shares and the minimum application amount is INR 14,850. The retail quota is 35%, QIB is 50% and NII is 15%.
Check Premier Energies IPO subscription status here. The subscription figures are taken from BSE and NSE and are updated at regular intervals. In addition, there are shares reserved for employees and the company is giving nearly 5% discount to its employees. Here you can find Premier Energies IPO subscription status segregated by days and investor categories.
Premier Energies IPO Subscription Status – Live Updates
| Category | QIB | NII | Retail | Employee | Total |
| Shares Offered | 1,22,89,227 | 96,31,406 | 2,24,73,279 | 2,46,913 | 4,46,40,825 |
| 29 Aug 2024 | 216.67 | 50.04 | 7.69 | 11.43 | 74.38 |
| 28 Aug 2024 | 1.40 | 18.83 | 4.21 | 6.62 | 6.61 |
| 27 Aug 2024 | 0.04 | 5.38 | 1.81 | 3.16 | 2.10 |
Shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.
Premier Energies – Business Background
Premier Energies is a leading manufacturer of integrated solar cells and solar panels in India with 29 years of experience in the solar industry. The company’s business operations include manufacturing solar PV cells and modules, executing EPC projects, providing O&M services, and producing independent power through a 2 MW solar plant in Jharkhand.
Premier Energies has five owned facilities in Hyderabad with a total solar manufacturing capacity of 2 GW for cells and 4.13 GW for modules. The company is planning to enhance its production capabilities by investing in a 4 GW Solar PV TOPCon manufacturing facility in Hyderabad, Telangana, using the proceeds from its IPO. Premier Energies is well-positioned to capitalize on India’s growing solar energy market and ambitious government targets supporting sustainable energy.
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Investor Categories in Premier Energies IPO Subscription
The three most important categories of IPO investors defined by SEBI are part of the Premier Energies IPO.
Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.
Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.
Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.
The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).
Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors.
Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.
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Premier Energies IPO Subscription Status FAQs
When will the subscription for Premier Energies IPO start?
Premier Energies IPO is open for subscription from 27 August to 29 August 2024.
How to subscribe to Premier Energies IPO?
You can subscribe to the IPO through ASBA and non-ASBA options. To use ASBA, login to your bank account and apply for the IPO online. Alternatively, you can download the form online or obtain a physical form, then submit the completed form to your broker or bank.
When will Premier Energies IPO be listed?
Premier Energies IPO will be listed on 3 September 2024, at the BSE and NSE stock exchanges.
