Premier Energies IPO Allotment Finalised: A Step-by-Step Guide To Check Status, Know GMP Today

The share allotment of the Premier Energies IPO has been finalised, and the investors can check the status on the websites of BSE and NSE as well as on the portal of registrar Kfin Technologies. Now, the IPO listing is scheduled to take place on Tuesday, September 3, and investors are likely to receive a whopping over 90 per cent listing gain as per the latest GMP. Here’s the latest GMP and a step-by-step guide to check IPO allotment status:

Premier Energies IPO: How to Check Allotment Status?

As the IPO allotment has been finalised, the status can be checked by following these steps:

1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.

2) Under ‘Issue Type’, select ‘Equity’.

3) Under ‘Issue Name’, select ‘Premier Energies Ltd’ in the dropbox.

4) Enter your application number, or the Permanent Account Number (PAN).

5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.

Your share application status will appear on your screen.

You can also visit direct Link Intime portal — https://evault.kfintech.com/ipostatus/ and check the Premier Energies IPO allotment status.

Premier Energies IPO GMP Today

According to market observers, unlisted shares of Premier Energies Ltd are trading Rs 420 higher (at Rs 870 apiece) in the grey market as against its issue price of Rs 450. The Rs 420 grey market premium or GMP means the grey market is expecting a 93.33 per cent listing gain from the public issue.

The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Premier Energies IPO: More Details

The initial public offering (IPO) of solar panel maker Premier Energies Ltd was opened between August 27 and August 29, 2024. The price band of the IPO was fixed at Rs 427-450 per share. On the final day of bidding, the 2,830.4-crore IPO received a 74.94 times subscription, garnering bids for 3,30,51,69,813 shares as against 4,41,06,533 shares on offer.

According to the latest data, the retail quota received a 7.35 times subscription, while the non-institutional investors category also got a 50.90 times subscription. The QIB category received a 212.42 times subscription on the first day of bidding.

The IPO was a fresh issue of up to Rs 1,291.4 crore and an offer-for-sale of up to 3,42,00,000 equity shares.

The proceeds from the fresh issue to the tune of Rs 968.6 crore will be allocated for investment in the company’s subsidiary, Premier Energies Global Environment Pvt Ltd, for part-financing the establishment of a 4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana, and the remaining funds will be used towards general corporate purposes.

Premier Energies is an integrated solar cell and solar module manufacturer with 29 years of experience and an annual installed capacity of 2 GW for solar cells and 4.13 GW for solar modules. It has five manufacturing facilities.

Kotak Mahindra Capital Company, J P Morgan India and ICICI Securities are the book-running lead managers to the offer.