If you are planning to invest in the IPO market and have missed investing in the issues launched so far, then this news is for you. Actually, from Tuesday, the IPO of solar panel manufacturing company Premier Energies has opened for subscription. The size of this issue is Rs 2830 crore and by bidding in it, you can ensure your share in the profits of the company. Let’s know how?
The company has fixed this much price band
Talking about the size of Premier Energies IPO, the company has planned to raise Rs 2830.40 crore from the market through its issue. Through this IPO, the company is seeking bids for 62,897,777 shares, out of which 28,697,777 are fresh shares and 34,200,000 shares are being sold through offer for sale. If we look at the price band (Premier Energies IPO Price Band) fixed by the company, it has been fixed at Rs 427-450 per share.
This is how you can do partnership in the company
Now let’s talk about how you can become a partner in the profits of this company by spending just Rs 15,000. So let us tell you that the size of this IPO is 33 shares, that is, any investor will have to bid for at least this many shares. Now if we look at the investment for one lot according to the upper price band, then it is Rs 14,850. That is, you can secure your stake in less than Rs 15,000. Talking about the maximum lot size, investors can bid for 13 lots and under this, an investment of Rs 193,050 will have to be made on the purchase of 429 shares.
When will it be listed in the stock market?
The IPO of Premier Energies will remain open for three days, meaning that the opportunity to invest in it is only till August 29. The company has also announced a discount for its employees, which will be Rs 22 per share. That is, the upper price band of the share for them will be Rs 410. After closing, the allotment of shares will be done on August 30 and the shares will be credited to the demat account on September 2. The company has fixed September 3 as the possible date for listing the shares in the stock market.
So many crores raised from anchor investors
This IPO was opened for anchor investors a day before opening for general investors on Tuesday, where it received a tremendous response. The list of anchor investors includes many big names, including Nomura Funds, BlackRock Institutional Trust Company, PGGM World Equity, Government Pension Fund Global, Abu Dhabi Investment Authority, Morgan Stanley,
BNP Paribas as well as HDFC Mutual Fund, ICICI Prudential Mutual Fund,
Nippon Life India, Tata Mutual Fund. Through these investors, the company has raised Rs 846.12 crore.
Even before the IPO opened, it was making a splash in the grey market and its premium was Rs 350. It is worth noting that Premier Energies Limited was established in April 1995 and is engaged in integrated solar cell and solar panel manufacturing business.
(Note- Before making any kind of investment in the stock market or IPO market, please consult your market experts.)
Source (PTI) (NDTV) (HINDUSTANTIMES)