Premier Energies is into Energy Solar sector and is looking raise funds through Fresh Issue and Offer For Sale
IPO Summary
Premier Energies IPO is a public offering of shares by Surender Pal Singh Saluja and Chiranjeev Singh Saluja. The IPO will open on August 27 and will close on August 29. The price band is ₹427 to ₹450 per share and the lot size is 33 shares. The issue size is ₹2,830.4 crore. The shares are expected to be listed on NSE, BSE on September 03 (^). Some additional information that you may find useful are:- Financial Snapshot
- Revenue (Rs Crores): Rs1657.4 in 1QFY25 (v/s Rs611.0 in 1QFY24)
- Revenue (Rs Crores): Rs3143.7 in FY24 (v/s Rs1428.5 in FY23 and v/s Rs742.9 in FY22)
- EBITDA (Rs Crores): Rs505.3 in FY24 (v/s Rs112.9 in FY23 and v/s Rs53.7 in FY22)
- EBITDA Margins (%): 15.9 in FY24 (v/s 7.7 in FY23 and v/s 7.0 in FY22)
- PAT (Rs Crores): Rs231.3 in FY24 (v/s -Rs 13.3 in FY23 and v/s -Rs 14.4 in FY22)
- PAT Margin (%): 7.3 in FY24 (v/s -0.9 in FY23 and v/s -1.9 in FY22)
Promoters of the company are Surender Pal Singh Saluja and Chiranjeev Singh Saluja Currently promoters hold 73.23% stake in the company. While post-equity promoters stake will be 66.03%
- Company aims to raise between Rs 2,752 to 2,830 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Investment in our Subsidiary for module manufacturing facility in Hyderabad - Rs968.6 crores and 2) General Corporate Purposes
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 26-Aug-24.
- Price band for the IPO has been fixed at Rs 427 to 450 per share and bid lot are in multiple of 33 shares. The implied market cap post-issue at Rs 19,314 to 20,284 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on August 30 and share are expected to be listed on NSE, BSE on September 03.
- Company has direct peer competition in India'a Solar sector. In Listed space peers include Websol Energy System Ltd. among others.
- Kotak Mahindra Capital, JP Morgan India, ICICI Securities has been appointed as Merchant Banker to the issue. KFin Technologies Ltd. has been appointed as official registrar of the issue.
- Company has not undertaken Pre-IPO placement.
Key Pointers of Premier Energies IPO:
| Premier Energies Limited IPO Snapshot | UdhyamPitch on X | |||
|---|---|---|---|
| Established | City | Sector | Sub-Sector |
| 1995 | Hyderabad | Energy | Solar |
| Issue | Issue Type | Tentative Listing Date | Listing at |
| IPO (Fresh+OFS) | Book Building | 03-Sep-24 | NSE, BSE |
| IPO Dates | Price Band (Rs/sh) | Face Value (Rs/sh) | Min Lot Qty |
| 27-Aug-24 to 29-Aug-24 | ₹ 427 to 450 per sh | ₹ 1 per sh | 33 sh and in multiples |
| Retail App (min) | Retail App (max) | Non-Retail (Rs2-10L App) | Non-Retail (>Rs10L min App) |
| 33 shares ₹ 14,850 | 429 shares up to ₹ 193,050 | 462 to 2,211 shares ₹ 207,900 to 994,950 | 2,244 shares and above ₹ 1,009,800 and above |
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
About Premier Energies Limited
Incorporated in 1995, Premier Energies Ltd is an integrated solar cell and module manufacturer with an annual installed capacity of 2 Gigawatts (“GW”) for cells and 4.13 GW for modules. Additionally company also provide engineering, procurement and construction (“EPC”) solutions, operations and maintenance (“O&M”) services and also operate as an independent power producer (“IPP”). Around 117 domestic customers and 3 international customers. Orderbook position as on Jul'24 at Rs5,926.5 Crores. 65% of revenues from top 5 customers in 1QFY25. Share of exports in 1QFY25 at 6.3% (v/s 0.1% in 1QFY24) and in FY24 at ~14% (v/s 0.5% in FY23).
- Financial Snapshot
- Revenue (Rs Crores): Rs1657.4 in 1QFY25 (v/s Rs611.0 in 1QFY24)
- Revenue (Rs Crores): Rs3143.7 in FY24 (v/s Rs1428.5 in FY23 and v/s Rs742.9 in FY22)
- EBITDA (Rs Crores): Rs505.3 in FY24 (v/s Rs112.9 in FY23 and v/s Rs53.7 in FY22)
- EBITDA Margins (%): 15.9 in FY24 (v/s 7.7 in FY23 and v/s 7.0 in FY22)
- PAT (Rs Crores): Rs231.3 in FY24 (v/s -Rs 13.3 in FY23 and v/s -Rs 14.4 in FY22)
- PAT Margin (%): 7.3 in FY24 (v/s -0.9 in FY23 and v/s -1.9 in FY22)
About Industry
We operate in the solar manufacturing industry in India which is on an accelerated growth trajectory owing to supply side measures such as the domestic content requirement, basic customs duty and approved list of models and manufacturers. India’s module manufacturing capacity reached approximately 72 GW in FY2024 and while its current solar cell manufacturing capacity stands at 8.1 GW, it is also poised for future exponential growth. India’s strong commitment to renewable energy, ambitious targets and favorable regulatory framework have attracted substantial investments in solar power projects, positioning India as a key player in the global solar market.
| Premier Energies Limited IPO Dates | UdhyamPitch on X | |
|---|---|
| Anchor Open | 26-Aug-24 |
| IPO Open | 27-Aug-24 |
| IPO Close | 29-Aug-24 |
| Allotment | 30-Aug-24 |
| Credit of Shares | 02-Sep-24 |
| Refund | 02-Sep-24 |
| Listing | 03-Sep-24 |
| Anchor Investor Lockin (50% of Anchor book investment) | |
| Anchor Investor Lockin (Balance 50% of Anchor book investment) | |
Kindly note UPI Mandate deadline is 5:00 pm IST on closing date. To avoid last minute issue, request you to approve UPI mandate before 4:00 pm IST on last day. In case, UPI mandate has not been approved during the prescribed time period, applications are liable to get rejected.
There are highly chances of variation in dates. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| Premier Energies Limited IPO - Management Details: | |
|---|---|
| Surendra Pal Singh Saluja, Chairman and Whole-Time Director He has been associated with the company since its inception. He is responsible for providing strategic advice to the Board, and developing and executing our Company’s business strategies. He has a bachelor’s in engineering (mechanical) degree from Karnatak University, Dharwad, Karnataka. | |
| Chiranjeev Singh Saluja, Managing Director One of the Promoters of the Company and responsible for short and long-term strategy and setting strategic goals. He has completed his higher secondary education from the Hyderabad Public School and St. Mary’s Junior College, Hyderabad. | |
| Nand Kishore Khandelwal, Group CFO He is responsible for finance function, strategic planning and information technology in our Company. He has been associated with the Company since September 1, 2023. He is an associate member of the Institute of Chartered Accountants of India. | |
| Ravella Sreenivasa Rao, Vice President - Company Secretary, Legal and Compliance Officer He has been associated with the Company since March 24, 2022. He is responsible for secretarial, legal, and compliance related functions in the Company. He is an associate of the Institute of Company Secretaries of India and an insolvency professional registered with the Insolvency and Bankruptcy Board of India. | |
Visit DRHP / RHP for more details on Board of Directors and Management details.
| Premier Energies Limited IPO - Details of Offer/Issue Breakup | UdhyamPitch on X | |||||
|---|---|---|---|---|---|
| Category | Quota (%) | No of Shares-Lower | No of Shares-Upper | Value (Rs Cr)-Lower | Value (Rs Cr)-Upper |
| QIB (Incl Anchor) | 50 | NA | 31,337,778 | NA | 1,410.2 |
| Non-Retail (NII) | 15 | NA | 9,401,333 | NA | 423.06 |
| Non-Retail (NII): >Rs10L | NA | 6,267,555 | NA | 282.04 | |
| Non-Retail (NII): Rs2L-Rs10L | NA | 3,133,778 | NA | 141.02 | |
| Retail | 35 | NA | 21,936,444 | NA | 987.14 |
| Employee | NA | 233,645 | 10. | 10. | |
| Shareholder | NA | . | . | ||
| NA=Not Available or Not Calculated | Upper= Upper Price Band | Lower=Lower Price Band | |||||
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| Premier Energies Limited - IPO Merchant Bankers: |
|---|
| Kotak Mahindra Capital |
| JP Morgan India |
| ICICI Securities |
| Premier Energies Limited - IPO Registrar & Transfer Agent (RTA): |
|---|
| KFin Technologies Ltd. Selenium, Tower B, Plot No 31 and 32, Financial District, Nanakramguda, Serilingampally HYDERABAD TELANGANA 500032 |
Check IPO Allotment status of Premier EnergiesIPO:
| Premier Energies Limited - Anchor Lockin Dates and Details | |
|---|---|
| Anchor Investor Lockin (50% of Investment for 30 days) release of | |
| Anchor Investor Lockin (Balance Investment for 90 days) release of | |
Above information is automatically calculated based on estimations. Chances of errors/changes could be possible due to holidays and/or other conditions. Users are requested to Visit BSE, NSE, SEBI for more information or contact the Company/Merchant Banker/RTA for more information.
| Premier Energies Limited - Documents | |
|---|---|
Disclaimer:
Above article only publishes details on the companies and about forthcoming / upcoming IPO' and are solely intended for educational purpose. We don't solicit or invite any interest of user to invest in any of the investment products. Please review DRHP/RHP/Prospectus for more details about the company, fundamentals and other details. Please visit respective sources to verify and know more details about the IPO. SME IPOs can be more volatile due to smaller market capitalization and liquidity. Prices may fluctuate significantly in response to market conditions. We advise users and/or investors to take opinion from certified and SEBI registered experts before taking any investment decisions.
| Source: SEBI, BSE, NSE |
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