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Premier Energies Ltd IPO

Premier Energies Limited 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 as of June 30, 2024. In addition, to manufacturing solar cells and modules, the company provides engineering, procurement and construction (EPC) solutions, operations and maintenance (O&M) services and also operate as an independent power producer (IPP). As of the date of this Red Herring Prospectus, the company has five manufacturing facilities which are all located in Hyderabad, Telangana, India, and it conducts its operations through eight subsidiaries in India and overseas.

Premier Energies Ltd IPO Details

Total Shares Offered

₹ 6,28,97,778

Offer to Public

3,42,00,000

Retail Max (Shares)

₹ 2,19,36,445

Pre Issue Promoters Holding

₹ 30,48,47,488

Exchange

BSE

Issue size

₹ 2830.4 Cr

IPO Open Date

Aug 27, 2024

Close Date

Aug 29, 2024

Lot Size

Min Investment

₹ 14,091

Issue Type

Book Building

Listing Date

Sep 3, 2024

Premier Energies Ltd IPO Dates

Aug 27, 2024

Opening date

Aug 29, 2024

Closing date

Aug 30, 2024

Basis of Allotment

Sep 2, 2024

Initiation of Refunds

Sep 2, 2024

Credit of Shares

Sep 3, 2024

Listing date

Details

Sector	Type
Sector	Trading
Sub Sector	NA
Issue Type	Book Building

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*
QIB	0x	31337778
NII	0x	9401333
Retail	0x	21936445
Employee	0x	222222
Total	0x	62897778

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

31337778

9401333

21936445

222222

62897778

Premier Energies Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	6,518.75	3,143.79	1,428.53
EBITDA	173.82	32.71	34.59
PAT	109.16	7.01	13.83
Total Assets	607.12	360.34	341.60
Share Capital	45.08	26.35	26.35
Total Borrowings	69.32	91.22	84.76
Operating Activities (Net Cash)	126.06	18.78	22.21
Investing Activities (Net Cash)	1,377.80	345.22	307.12
Financing Activities (Net Cash)	69.32	91.22	84.76
Net Cashflow	345.50	73.54	43.40

About Premier Energies Ltd

Premier Energies Limited was originally incorporated as a private limited company with the name Premier Solar Systems Private Limited under the provisions of the Companies Act, 1956, at Hyderabad, India, pursuant to a certificate of incorporation dated April 3, 1995, issued by the Registrar of Companies, Andhra Pradesh. Subsequently, pursuant to a Board resolution dated May 6, 2019 and a resolution passed at an extraordinary general meeting dated July 25, 2019, the name of the Company was changed to Premier Energies Private Limited and a fresh certificate of incorporation dated August 6, 2019 was issued by the Registrar of Companies, Telangana at Hyderabad (RoC). Upon the conversion of the Company into a public limited company, pursuant to a Board resolution dated September 3, 2019 and a Shareholders' resolution dated September 4, 2019, the name of the Company was changed to Premier Energies Limited and a fresh certificate of incorporation dated September 25, 2019 was issued by the RoC.

Premier Energies Limited operates 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.

Peer Comparison:

Websol Energy System Ltd

Premier Energies Ltd Key Points

Strengths

The Company is an integrated solar cell and solar module manufacturer.

The Company has a long track record in the solar module manufacturing sector.

The Company is experienced in solar cell line production.

The Company has a diversified customer base with customer relationships both within India and overseas with a robust order book.

The Company has an experienced Promoter-led senior management team.

Risk

Its revenue from operations is dependent upon a limited number of customers and the loss of any of these customers or loss of revenue from any of these customers could have a material adverse effect on its business, financial condition, results of operations and cash flows.

The business and prospects of the Company is dependent on the success of two products namely, solar cells and modules, and therefore their continued success is necessary for its business and prospects.

Its manufacturing facilities are located in the state of Telangana, India, which exposes its operations to potential geographical concentration risks arising from local and regional factors which may adversely affect its operations and in turn its business, results of operations and cash flows.

Strategy

Expand its overseas presence and increase its exports especially in the U.S. market through strategic backward integration of its production chain and establishing manufacturing capabilities outside of India.

Develop and grow its rooftop solar offering.

Capitalize on available market opportunities to grow its domestic business.

Expanding and upgrading manufacturing capacities using the latest technology.

How To Apply for Premier Energies Ltd IPO Online?

Step 1:

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From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Premier Energies Ltd IPO?

Premier Energies Ltd's IPO offers shares for up to 1,291.4 It begins on Aug 27, 2024 and ends on Aug 29, 2024.

What is the price of the Premier Energies Ltd IPO?

The price of Premier Energies Ltd IPO ranges between ₹427 to ₹450 per share.

What are the open and close dates for the Premier Energies Ltd IPO?

The Premier Energies Ltd IPO opens on Aug 27, 2024 and closes on Aug 29, 2024.

When will the Premier Energies Ltd IPO be allotted?

The allotment for the Premier Energies Ltd IPO will be finalised on Aug 30, 2024. The shares will be listed on BSE and NSE on Sep 3, 2024.

What is the minimum lot size required for Premier Energies Ltd IPO?

The minimum lot size for Premier Energies Ltd IPO is 33 shares, priced between ₹427 to ₹450 per share.

What is the GMP of Premier Energies Ltd IPO?

The GMP (Grey Market Premium) of Premier Energies Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Premier Energies Ltd IPO?

To check the allotment status of Premier Energies Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Premier Energies Ltd IPO getting listed?

The Premier Energies Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Aug 27, 2024, and closes on Aug 29, 2024. The allotment is finalised on Aug 30, 2024.

How do you apply for the Premier Energies Ltd IPO?

To apply for the Premier Energies Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.