The premium in the IPO reached 116 percent
Business Business: There is a strong demand for Premier Energies Limited shares in the grey market i.e. unregistered market. The company’s shares are priced at around £975 (116.67%) higher than its IPO price range of £450. If the current trend continues, analysts expect the company’s shares to exceed the trading day i.e. investors’ wealth. hour will double on Tuesday, 3 September. We would like to inform you that this IPO was opened for investment on August 27 and the issue was open for investors till August 29. Akriti Mehrotra of Stocksbox said that Premier Energies has made a good debut in the market. The listing is expected to fetch a premium of 110% to 120%. Mehrotra advised investors to hold their shares for the medium to long term.
Premier Energies Limited IPO has received an overwhelming response from investors. The issue was booked 74.38 times on the last day of trading. Solar cell and module maker Premier Energies’ IPO was subscribed 6.60 times on the second day of trading. According to NSE data, 29,48,45,364 shares were offered against an offer of 4,46,40,825 shares in the first share sale of Rs 2,830 crore. The non-institutional investor (NII) category was subscribed 18.83 times and the retail investor (RII) category 4.21 times. The qualified institutional buyers (QIB) share was subscribed 1.40 times.
The IPO comprises a fresh issue of up to Rs 1,291.4 crore and an offer for sale (OFS) of up to 3,42,00,000 shares. The price range for this offer has been fixed at Rs 427-450 per share. Premier Energies Ltd has raised Rs 846 crore from mainstream (large) investors.
