This IPO made huge money on listing, even after that one-sided growth is continuing. Here we are talking about Premier Energies Limited (Premier Energies IPO). This IPO was listed on 3rd September.
In fact, the shares of Premier Energies IPO were listed with a 120% premium, meaning the amount of those who bid in it more than doubled with the listing. The company’s shares were listed at a 120 percent premium over its issue price of Rs 450. It was listed at Rs 991 on BSE, while on NSE this share was listed at Rs 990. Even after that, the rise in this share continues.
164 percent return in a week
With its debut in the market, this stock has become a multibagger stock for its investors. On Monday, this amazing stock closed at Rs 1208, up 10.27 per cent, the stock opened at Rs 1105 on Thursday, and during trading the stock reached Rs 1235.
If we compare it with the IPO price, it has risen by about 164 percent. The issue price of this IPO was Rs 450, from where the share has reached above Rs 1200 within a week.
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 raised Rs 846.12 crore.
This company makes solar panels
Premier Energies Company was founded in April 1995 and is engaged in solar cell and solar panel manufacturing. Its product portfolio 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 investing in the stock market, please take advice from your market experts.)
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