Premier Energies IPO: Premier Energies Ltd, a leading integrated solar cell and solar panel manufacturer, had a stellar debut on Dalal Street on Tuesday, with shares listing at a 120 per cent premium on the National Stock Exchange (NSE). The stock opened at Rs 990 on the NSE, significantly above its issue price of Rs 450. On the BSE, the shares listed at Rs 991, reflecting a 120.22 per cent premium.
The company made its stock market debut on Tuesday, September 3, 2024, following the successful conclusion of its initial public offering (IPO). The IPO, which ran from August 27 to August 29, received overwhelming demand, with investors were eagerly anticipating today's listing on both the BSE and the National Stock Exchange (NSE).
Premier Energies IPO GMP on Tuesday stands at Rs 487 per share, as per stock market experts. This suggests that Premier Energies shares are trading Rs 487 above their issue price in the grey market.
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The IPO allotment was finalised on August 30, setting the stage for Tuesday's listing. According to a notice issued by the BSE, Premier Energies' equity shares will be admitted for dealings in the 'B' Group of Securities starting from 10:00 am during the Special Pre-open Session (SPOS).
The IPO attracted significant interest from various investor categories, leading to an overall subscription of 74.38 times. Qualified Institutional Buyers (QIBs) showed the most enthusiasm, with bids totaling 216.67 times the offer size. Non-Institutional Investors (NIIs) followed suit, subscribing 50.04 times, while retail investors bid 7.69 times. The public issue was priced in the range of Rs 427 to Rs 450 per share.
Investors will now watch closely as Premier Energies begins its journey in the stock market, with today's listing marking a significant milestone for the company.
At 10.30 am, the BSE Sensex dropped 108 points to 82,452. On the other hand, the NSE Nifty50 was trading at 25,252, down 26 points.