Premier Energies Share Price Today Live Updates: Premier Energies stock falls 17% after listing at 120% premium

Premier Energies stock declined 13.11% on the NSE to trade at ₹860.25 as at 12.03 pm. On the BSE, the stock tanked 13.14% to trade at ₹860.75.

Shares of Premier Energies fell 10.80% on the NSE to trade at ₹883.05 as at 11.28 am. 

On the BSE, the stock declined 10.95% to trade at ₹882.50.

The company’s market valuation stood at Rs 39,291.75 crore.

Read more from PTI 

Shares of solar cell and module manufacturer Premier Energies Ltd on Tuesday listed with a sharp premium of over 120 per cent against the issue price of Rs 450.

The stock made its debut at Rs 991, surging 120.22 per cent from the issue price on the BSE. It later soared 120.76 per cent to Rs 993.45.

At the NSE, shares of the firm listed at Rs 990, a jump of 120 per cent.

The company’s market valuation stood at Rs 39,291.75 crore.

PTI

Premier Energies shares traded at ₹871.10 on the NSE, lower by 12.01% as at 10.46 am.

Today’s high: ₹994.55

Today’s low: ₹860

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Premier Energies shares were listed on the stock exchanges on Tuesday with a 120% premium, against the IPO price of ₹450.

Read more about the IPO 

The initial public offer of solar cell and module manufacturer Premier Energies got subscribed 74.09 times on the last day of subscription on Thursday.

The ₹2,830 crore initial share sale received bids for 3,30,76,25,013 shares against 4,46,40,825 shares on offer, according to an update with the NSE.

The portion for Qualified Institutional Buyers (QIBs) attracted a whopping 216.67 times subscription while the quota for non-institutional investors got subscribed 49.76 times. The Retail Individual Investors (RIIs) part received 7.25 times subscription.

The initial public offering (IPO) of Premier Energies got fully subscribed on the first day of the subscription on Tuesday.

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

The price range for the offer is fixed at ₹427-450 per share.

Premier Energies Ltd on Monday said it has raised ₹846 crore from anchor investors.

Proceeds from the fresh issue to the tune of ₹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.

• Listing Date : Tuesday, September 03, 2024 (Today)
• ISIN : INE0BS701011
• BSE : 544238‘B’ Group
• NSE : PREMIERENE
• NSE Series : EQ
• IPO Price : ₹ 450
• App. Min. Lot : 33 Shares