Premier Energies IPO
Premier Energies IPO — date, price band, lot size & details 2024
Premier Energies listed on 3 Sep 2024 at ₹990, 120% above the ₹450 issue price.
Premier Energies is an integrated solar cell and module maker with 2 GW of cell and 4.13 GW of module capacity, and also offers EPC and O&M services. Its total income was Rs 3,171.31 crore in FY2024.
Stock price
Premier Energies is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 27 Aug 2024
- Close 29 Aug 2024
- Allotment 30 Aug 2024
- Refund/credit 02 Sep 2024
- Listing 03 Sep 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 27 to 29 Aug, 2024 |
|---|---|
| Price Band | ₹427 – ₹450 |
| Face Value | ₹1 |
| Lot Size | 33 Shares |
| Issue Size | ₹2830.4 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 22.00 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,850 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 33 shares at the ₹450 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 33 | ₹14,850 |
| Retail (max) | 13 | 429 | ₹1,93,050 |
| S-HNI (min) | 14 | 462 | ₹2,07,900 |
| S-HNI (max) | 67 | 2,211 | ₹9,94,950 |
| B-HNI (min) | 68 | 2,244 | ₹10,09,800 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 767.03 crore in FY2022 to Rs 3,171.31 crore in FY2024.
- 02The company turned from a loss of Rs 13.34 crore in FY2023 to a profit of Rs 231.36 crore in FY2024.
- 03Profit after tax was Rs 198.16 crore in the three months to 30 June 2024.
- 04Rs 968.60 crore of the fresh issue was planned for a new 4 GW cell and module plant.
- 05Net worth grew from Rs 393.39 crore on 31 March 2022 to Rs 817.11 crore on 30 June 2024.
Risks · 5
- 01The pre-issue P/E was 82.09 at the upper band of Rs 450, based on EPS of Rs 5.48.
- 02Total borrowing was Rs 1,200.16 crore on 30 June 2024, and the source puts debt to equity at 1.86.
- 03Solar module prices are volatile, and the company made losses in FY2022 and FY2023.
- 04Growth depends on government support for local solar manufacturing, and the 4 GW plant carries execution risk.
- 05Promoters and the promoter group held 70.33% before the issue and 64.25% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Premier Energies offer document.
| Metric | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 3,735.50 | 3,554.13 | 2,110.69 | 1,341.49 |
| Total Income | 1,668.79 | 3,171.31 | 1,463.21 | 767.03 |
| Profit After Tax | 198.16 | 231.36 | -13.34 | -14.41 |
| NET Worth | 817.11 | 617.61 | 381.98 | 393.39 |
| Total Borrowing | 1,200.16 | 1,392.24 | 763.54 | 453.30 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Premier Energies RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Premier Energies IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹5.48 | ₹17.58 |
| P/E Ratio (x) | 82.09 | 25.59 |
| Market Cap at Offer Price (₹ Cr) | ₹16,272.26 | ₹5,072.35 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹450 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹1,353.98 Cr of the issue is earmarked to named objects.
About the company
Besides making cells and modules, it provides EPC solutions and O&M services, and operates as an independent power producer.
Its promoters are Surender Pal Singh Saluja and Chiranjeev Singh Saluja.
The IPO was Rs 2,830.4 crore, with Rs 1,291.68 crore of fresh issue and Rs 1,538.72 crore of offer for sale by investor South Asia Growth Invest and promoter Chiranjeev Singh Saluja, among others. Rs 968.60 crore was planned for a 4 GW TOPCon cell and 4 GW module plant in Hyderabad through a subsidiary.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Premier Energies IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
93 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: Rategain Travel Technologies (-15.3%).
JP Morgan India Pvt. Ltd
22 issues handledBest listing: Indegene (+44.9%). Weakest: Nuvoco Vistas Corporation (-14.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Premier Energies?
The current Grey Market Premium is ₹490, or 109% over the issue price.
What is the Premier Energies IPO price band?
₹427 to ₹450, on a face value of ₹1.
When is the allotment?
The basis of allotment is 30 August 2024, with listing on 3 September 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
