Premier Energies Shares Soar 120%, Listing at ₹990 on NSE and ₹991 on BSE!Premier Energies Shares Soar 120%, Listing at ₹990 on NSE and ₹991 on BSE!

Premier Energies had an impressive IPO debut today, with shares listing at ₹990 on NSE, reflecting a 120% premium over the IPO price of ₹450. On BSE, the shares debuted at ₹991, marking a 120.22% premium.

Premier Energies IPO was oversubscribed by 75 times, with 332.78 crore shares bid against 4.41 crore offered. The retail portion was subscribed 7.44 times, the employee portion 11.32 times, the non-institutional investors’ quota 50.98 times, and the qualified institutional buyers (QIBs) portion at 212.42 times.

Premier Energies Limited, with 29 years in the industry, specializes in solar PV cell and module production, EPC projects, and O&M services. Operating a 2 MW solar plant in Jharkhand, the company has 2 GW cell and 4.13 GW module capacity across five Hyderabad facilities. Their Unit II is India’s first LEED Gold solar plant. Future plans include adding a 1,000 MW TOPCon cell line by 2025 and expanding with 4 GW more, supported by IREDA financing and IPO funds.

Premier Energies Limited IPO aimed to raise capital for purposes like expansion, technology upgrades, debt reduction, or general corporate needs. This IPO involved raising funds through both a fresh issue of shares and an offer for sale.