IPO
Solar cell maker Premier Energies’ Rs.2,830-Cr IPO subscribed 75 times
Hyderabad-headquartered solar cell maker Premier Energies ' INR 2,830 crore initial public offering (IPO) was subscribed 74.4 times, attracting bids worth over INR 1.49 lakh crore.A total of 332.03 crore shares were bid for, compared to the 4.46 crore shares on offer. The qualified institutional bidders' (QIBs) portion was subscribed 216.67 times, while the non-institutional investors (NIIs) or high net worth individuals part saw subscription of 50.04 times. The retail investors' segment received bids 7.69 times.The IPO consists of a fresh issue of equity shares aggregating up to INR 1,291 crore and an offer for sale (OFS) of 3.42 crore shares by the existing shareholders. The company set a price band of INR 427-450 per share.Premier Energies makes integrated solar cells and solar modules, with an annual installed capacity of 2 GW for solar cells and 4.13 GW for solar modules. The company operates five manufacturing facilities.
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