The public offering of the solar cell and module manufacturer comprised an offer-for-sale (OFS) of up to 3,42,00,000 shares and a new issuance of shares valued at ₹1,291.4 crore.
On the NSE, shares of a maker of solar cells and modules were down 12.9% at ₹861.6.The Premier Emergies shares debuted spectacularly when they were listed on the National Stock Exchange for ₹990. On the BSE, the stock opened at ₹991, up 120.2%.Luminous, Hartek, First Energy, Madhav Infra Projects, Shakti Pumps, Panasonic, Continuum, Bluepine Energies, Green Infra Wind Energy, SolarSquare Energy, and Axitec are a few of its clients.On Tuesday, September 3, shares of Premier Energies, a manufacturer of solar cells and modules, will go public on the NSE and BSE.
74.09 times as many bids were received for 3,30,76,25,013 shares as opposed to the 4,46,40,825 equity shares that were offered in the ₹2,830.4-crore initial share sale.
The price range for the IPO, which ran from August 27 to August 29, was ₹427–₹450 per share.
A new issue of shares valued at ₹1,291.4 crore and an offer-for-sale (OFS) of up to 3,42,00,000 shares comprised the public offer.The company’s subsidiary, Premier Energies Global Environment Private Limited, will receive ₹968.6 crore in proceeds from the new issue. These funds will be used to partially finance the construction of a 4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana. Additionally, the funds will be utilized for standard business needs.
