Another IPO is ready to be listed in the stock market, whose IPO subscription deadline ended today i.e. 29 August. Retail investors subscribed to this IPO only 7.40 times. While the grey market premium (GMP) of this IPO is 90 percent. This is a mainboard IPO, whose listing is likely to happen on 3 September.
This IPO is of Premier Energies, whose book built issue was Rs 2,830.40 crore. Through this IPO, the company issued 2.87 crore shares through face issue and 3.42 shares through offer for sale. Premier Energies IPO opened for subscription on 27 August and closed on 29 August.
What was the price band of the IPO?
Allotment of shares of Premier Energies IPO can be done on Friday, 30 August. Its IPO will be listed on BSE and NSE. Its shares will be listed on Tuesday, 3 September 2024. The price band of Premier Energies IPO was kept at ₹ 427 to ₹ 450 per share.
What was the minimum investment required?
According to the price band, retail investors had to buy at least one lot in this IPO, one lot of which consisted of 33 shares. In such a situation, retail investors had to invest at least ₹ 14,850. sNII had to buy 14 lots for ₹ 207,900, and bNII had to buy 68 lots for ₹ 1,009,800. 233,644 shares were also reserved for employees, who were given a discount of Rs 22 on the issue price.
Who bet how much?
In this IPO, except anchor investors, the least number of retail investors have invested. Retail investors have subscribed this IPO only 7.40 times. Whereas in the employee category, this IPO has been subscribed 11.32 times, in the QIB category, this IPO has been subscribed 212.42 times and non-institutions have subscribed it 50.98 times. In total, this IPO has been subscribed only 75 times.
GMP signals strong earnings for investors
The last GMP of Premier Energies IPO was ₹407. Its price band is Rs 450 per share. In such a situation, the estimated listing price of Premier Energies IPO is ₹857 per share. That is, if the shares of this company are listed on this estimate, then investors can make a profit of 90.44% on the day of listing.
(Note- Before investing in any stock or IPO, please consult your market expert.)
Source (PTI) (NDTV) (HINDUSTANTIMES)