About Premier Energies:
The company is an integrated solar cell and module manufacturer with an annual installed capacity of 2 Gigawatts (GW) for cells and 4.13 GW for modules as of June 30, 2024. In addition to manufacturing solar cells and modules, the company provides engineering, procurement, and construction (EPC) solutions, operations and maintenance (O&M) services, and operates as an independent power producer (IPP). As of the date of this Red Herring Prospectus, the company has five manufacturing facilities, all located in Hyderabad, Telangana, India, and conducts its operations through eight subsidiaries in India and overseas.
About the Industry in which Premier Energies operates:
The company operates in India’s rapidly growing solar manufacturing industry, driven by supply-side measures such as the domestic content requirement, basic customs duty, and the approved list of models and manufacturers. In FY2024, India’s module manufacturing capacity reached approximately 72 GW, with its current solar cell manufacturing capacity at 8.1 GW, set for significant future growth. India’s strong commitment to renewable energy, ambitious targets, and favorable regulatory framework have attracted substantial investments in solar power projects, positioning the country as a key player in the global solar market.
| Important Information and Timelines of the IPO of Premier Energies: | |
|---|---|
| Open Date | 27 August 2024 |
| Close Date | 29 August 2024 |
| Total Issue Size – Number of Shares | 62897777 |
| Minimum Bid Price | 427 |
| Maximum Bid Price | 450 |
| Lot Size | 33 |
| Basis of Allotment | 30 August 2024 |
| Initiation of Refunds and Credit of Shares to Demat | 2 September 2024 |
| Listing Date | 3 September 2024 |
| Listing Exchange(s) | NSE and BSE |
Minimum and Maximum Lot Sizes for the IPO of Premier Energies:
| Category | Lots | Shares | Amount (in ₹) |
|---|---|---|---|
| Retail – Minimum | 1 | 33 | 14850 |
| Retail – Maximum | 13 | 429 | 193050 |
| sHNI – Minimum | 14 | 462 | 207900 |
| sHNI – Maximum | 67 | 2211 | 994950 |
| bHNI – Minimum | 68 | 2244 | 1009800 |
Objective of the IPO of Premier Energies:
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Investment in our Subsidiary, Premier Energies Global Environment Private Limited 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, India.
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General corporate purposes
Financials of Premier Energies:
| Particulars | As at and for the three months ended June 30, 2024 | As at and for the three months ended June 30, 2023 | As at and for the year ended March 31, 2024 | As at and for the year ended March 31, 2023 | As at and for the year ended March 31, 2022 |
|---|---|---|---|---|---|
| Equity Share capital | 334.07 | 263.46 | 263.46 | 263.46 | 263.46 |
| Net worth | 8,171.07 | 4,139.48 | 6,176.12 | 3,819.76 | 3,933.87 |
| Revenue from operations | 16,573.67 | 6,110.23 | 31,437.93 | 14,285.34 | 7,428.71 |
| Total income | 16,687.90 | 6,162.26 | 31,713.11 | 14,632.12 | 7,670.33 |
| Profit/(loss) for the period/year | 1,981.60 | 313.32 | 2,313.60 | (133.36) | (144.08) |
| Basic EPS | 5.93 | 0.94 | 6.93 | (0.38) | (0.44) |
| Diluted EPS | 4.70 | 0.74 | 5.48 | (0.38) | (0.44) |
| Net asset value per Equity Share | 19.36 | 9.81 | 14.63 | 9.05 | 9.32 |
| Total borrowings | 12,001.57 | 8,222.35 | 13,922.40 | 7,635.42 | 4,532.97 |
For more details on the IPO, refer to the DRHP here.
Did you know that you can now Pre-Apply for an IPO on Dhan? You can place your IPO Bid on Dhan and the order will be pushed to the Exchange as soon as the Bidding starts for Premier Energies. You will receive a UPI mandate after 10:00 AM on 27 August 2024.
###1. How to apply for the IPO of Premier Energies on Dhan?
You can apply for the IPO of Premier Energies from either Dhan Mobile App or Web
On Dhan Mobile App you can find the IPO under the Money Section > IPO Tab
On Dhan Web you can find the IPO under Markets Tab > IPOs
###2. In case of successful allotment, when the IPO shares of Premier Energies be visible on Dhan?
The CDSL will intimate you regarding the credit of shares into your Demat account by 2 September 2024. However, you will be able to see the shares of Premier Energies on Dhan before the market starts on the listing date which is 3 September 2024.