IPOs are opening one after another in the market and many of these are proving to be profitable deals for investors. The Premier Energies IPO that came recently has also done the same wonder and made a bang entry in the stock market and has become a multibagger stock for its investors as soon as it debuted in the market. In fact, on Tuesday, its shares were listed with a premium of 120 percent, that is, the amount of those who bid in it more than doubled with the listing.
Share of Rs 450 listed at 990
On the second trading day of the week (Stock Market), shares of Premier Energies were listed on the Bombay Stock Exchange and the National Stock Exchange. The company’s shares were listed at a premium of 120 percent over its issue price of Rs 450. While it was listed at Rs 991 on the BSE, it was listed at Rs 990 on the NSE. This strong listing has brought smiles on the faces of investors.
The IPO got a tremendous response
The IPO size of Premier Energies Limited was Rs 2830.40 crore and it was open for investors from 27 August to 29 August. Through this IPO, the company had sought bids for 62,897,777 shares with a face value of Rs 1 and on the last day after opening, Premier Energies IPO received 74 times subscription. The price band of its shares was fixed at Rs 427-450.
This much money was raised from anchor investors
A day before opening for general investors, this IPO was opened for anchor investors, from where it also received a strong response. The company’s anchor investors list 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 had raised Rs 846.12 crore.
Calculation of benefits to investors
Now let’s talk about the profit made by the investors who bid in this IPO on the listing day, so according to its calculation, investors have made a direct profit of Rs 17,820 on each lot. Actually, under the IPO, an investment of Rs 14,850 was to be made for at least 33 shares for one lot and with the listing of the shares, this investment increased to Rs 32,670.
This company makes solar panels
Premier Energies Company was founded in April 1995 and is engaged in solar cell and solar panel manufacturing. Looking at its product portfolio, it includes cells, solar modules, monofacial modules, bifacial modules, EPC solutions and O&M solutions. The company has 5 manufacturing units located in Hyderabad and Telangana.
(Note- Before making any kind of investment in the stock market or IPO market, please consult your market experts.)
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