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Business: Premier Energy, a solar cell and solar panel manufacturing company, has filled the pockets of investors with its debut on the stock market. After the IPO received a great subscription in the market, its shares were also listed at a great premium on Tuesday.
Listing done with such a premium
Premier Energy's share was listed on BSE at Rs 991 with a premium of Rs 541 or 120 per cent. Similarly, the company's shares were listed on NSE at Rs 990.
Earnings of IPO investors
The solar energy company had fixed the price band of its IPO between Rs 427 and Rs 450. This means that with the listing, the IPO investors have made a profit of Rs 541 on each share. There were 33 shares in each lot of the company's IPO. This means that those who subscribed to the IPO needed at least Rs 14,850. After listing, the value of one lot has increased to Rs 32,703. This means that investors have earned Rs 17,853 on each lot.
Such a big IPO came last week
Premier Energy launched an IPO of Rs 2,830.40 crore in the market last week. The IPO opened on August 27 and could be subscribed till August 29. Fresh shares worth Rs 1,291.40 crore were issued in the IPO, while it also included an offer for sale of Rs 1,539 crore.
What does Premier Energy do?
The company, formed in 1995, mainly manufactures solar cells and solar panels. Its portfolio includes solar cells, solar modules, monofacial modules, bifacial modules, EPC solutions, O&M solutions. The company has 5 manufacturing plants in Hyderabad, Telangana. Its customers include giants like NTPC, Tata Power.
IPO got such subscription
Premier Energy's IPO received a great response in the market. The QIB category of the IPO was subscribed the most at 212.42 times. The reserved category for NII received a subscription of 50.98 times. Retail investors subscribed 7.44 times and employees subscribed 11.32 times. Thus the IPO was subscribed 75 times overall.
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