The stocks of recently listed Premier Energies, a solar solution provider on Thursday (September 5) increased by 12 per cent, hitting Rs 942 per share on the National Stock Exchange (NSE) during the intraday trading. At 12:47 pm IST, the shares of the company was trading at Rs 937.95 apiece, up by 11.41 per cent.
This comes on heels of a strong debut where the company's stock price more than doubled on its first day, September 3. The shares of the company were listed at Rs 991, a 120 per cent premium over the IPO issue price of Rs 450.
Share performance of Premier Energies on NSE |
The company made its debut on the National Stock Exchange with over 121 per cent premium on September 3, 2024.
IPO Details
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The subscription period for Premier Energies IPO began on August 27 and ended on August 29, 2024. The price band for the IPO was kept between Rs 427 and Rs 450 per share.
Premier Energies' Rs 2,830 crore public issue had significant attention from investors. The issue was subscribed 74.14 times.
Subscription breakdown
- Qualified institutional buyers (QIBs) led the way, subscribing to a staggering 216.67 times their allotted portion.
The retail investor's portion was subscribed 7.33 times,
- Non-institutional investors were subscribed subscribed 49.81 times.
Representative Image |
- The employees' portion of the company also had a subscription rate of 10.84 times.
Before the IPO opened, the company raised Rs 846.12 crore from a group of anchor investors.
About the company
The company was founded in April 1995 and is known in the solar industry for manufacturing solar cells, monofacial and bifacial modules, and providing Engineering, Procurement, and Construction (EPC) services along with Operations and Maintenance (O&M) solutions.
