Premier Energies Limited is a leading integrated solar cell and solar module manufacturing company, supported by GEF Capital, a Washington DC-based Private Equity Investor. Known for its innovative technology in photovoltaic products and solutions, Premier Energies is poised for its Initial Public Offering (IPO). This article covers essential details about the Premier Energies IPO, including its financial performance, subscription details, and investment recommendations.

IPO Details

The Premier Energies IPO will open for subscription from August 27, 2024, to August 29, 2024. The price band for the shares is set between ₹427 and ₹450. Retail investors can apply for a minimum of 33 shares, costing ₹14,850, while High-Net-Worth Individuals (HNIs) must invest a minimum of ₹207,900 for 462 shares. The allotment of shares is anticipated to be finalized on September 2, 2024, with the listing scheduled for September 3, 2024, on both the BSE and NSE.

Grey Market Premium (GMP)

The Grey Market Premium for Premier Energies Limited IPO is expected to range from ₹240 to ₹250. Although GMP provides insights into market sentiment, it is based on informal trading and does not guarantee the actual listing price. The premium reflects the demand and supply in the unregulated market and should be used for informational purposes only.

Allotment Status

Investors can check the IPO allotment status on the registrar's website starting September 2, 2024. To verify allotment:

Visit the IPO allotment status page.

Select Premier Energies Limited IPO from the dropdown menu.

Enter the application number, PAN, or DP Client ID.

Submit the details to view the allotment status.

Company Overview

Premier Energies Limited is led by Surender Pal Singh Saluja, Chairman and Whole-Time Director, and Chiranjeev Singh Saluja, Managing Director, who collectively bring approximately 29 years of experience in the solar industry. Their leadership has driven the company's advancements in solar technology and manufacturing processes.

Also Read: Paramatrix Technologies Limited IPO opens for subscription. Should you bid or skip?

Financial Performance

Premier Energies has demonstrated remarkable financial growth. Revenue surged from ₹7,838.99 Millions in FY22 to ₹28,832.62 Millions in FY24. EBITDA also rose significantly from ₹537.38 Millions in FY22 to ₹5,053.18 Millions in FY24. The PAT, which was negative in FY22 and FY23, has turned positive at ₹2,317.59 Millions in FY24, reflecting a strong profit turnaround.

The IPO is being offered with a pre-issue EPS of ₹5.48 and a post-issue EPS of ₹5.13. The pre-issue P/E ratio is 82.11x, while the post-issue P/E ratio is 87.71x, compared to the industry average of 59.20x. The company's ROCE for FY24 stands at 25.65%, and ROE is 43.73%, indicating robust financial health and effective capital use.

Investment Recommendation

Given the financial performance and the Grey Market Premium, the Premier Energies Limited IPO appears to be fairly priced with potential listing gains of 50% - 55%. Investors seeking short-term gains or long-term investment opportunities should consider applying for this IPO. Conducting thorough due diligence and assessing risk tolerance is recommended before investing.

Conclusion

The Premier Energies Limited IPO presents a promising opportunity for investors. With its impressive financial performance, strategic pricing, and favorable market sentiment, the IPO is set to attract significant interest. Investors are encouraged to stay updated on the IPO's progress and make informed decisions based on their investment objectives and risk appetite.

Also Read: Jay Bee Laminations Limited IPO subscribed 8.07 times on Day 2. Check GMP & details

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst & Finance Saathi Telegram Channel for Regular Share Market, News & IPO Updates

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX & Upstox.