Premier Energy IPO allotment status finalized on August 30, 2024. It followed a highly over-subscribed public offering which closed on August 29, in which the IPO was subscribed for approximately 74.38 times.
The demands were high from Qualified Institutional buyers, who subscribed 216.67 times the shares available to them
Premier Energy IPO Allotment Status Finalized
Premier Energy IPO allotment shares have been finalized on August 30, 2024. The public issue received an overwhelming response that closed on August 29, being subscribed approximately 74.38 times, on the whole.
What are the details of Subscription?
- For Qualified Institutional buyers, they subscribed 216.67 times the share available to them
- For Non- institutional Investors they subscribed around 50.04 times
- For Retail Individual Investor they subscribed 7.69 times.
Utilization of proceeds for financial purposes
Funds that will be raised from IPO are most likely to be utilized for
- The investment is intended to create a 4 GW Solar PV TOPCon Cell and Module manufacturing facility in Hyderabad through a premier Energies Global environmental, subsidiary.
- General company objectives
Now let’s see how to check the Allotment status,
Steps to check the Allotment status: BSE, NSE, Kfin Technologies
BSE Website
- First visit https://www.bseindia.com/investors/appli_check.aspx
- Select ‘Equity’ as the issue type
- Choose ‘Premier Energies’ from the drop-down menu.
- Now you can enter your application number or PAN
- Finally, click on ‘Search’ to view your status
Kfin Technologies
You can follow similar steps for this as well
- First, go to https://rti.kfintech.com/ipostatus/
- Now select ‘Premier Energies’ from the IPO List
- Choose your application number or PAN
- Finally enter the demanded details and click on ‘Submit’
You can follow the same step while searching on the NSE website
Profile of Premier Energies
Photovoltaic cells and modules for solar energy are produced comprehensively by Premier Energies. Along with the end-to-end solar energy solutions for various applications, including rooftop ground-mounted installations, the company also works on construction, engineering, and procurement projects.
Premier Energies Financial Performance
Premier Energies recorded a net profit of 198.16 cr INR on sales of 1657.37 cr INR for the three months ending June 30, 2024.
The company’s robust financial results and room for expansion have added to the strong demand for its initial public offering
Allotment expected to be competitive
On September 2, 2024, the shares are anticipated to be credited to Demat accounts, and on September 3, Premier Energies is projected to float on the BSE and NSE.
It is anticipated that the Allotment would be competitive due to substantial oversubscription. Investors! who have the application details on hand should check their status as soon as possible.
If you want to know more about business stick with us to explore further
