Wait Over! Premier Energies IPO allotment today; check status, GMP & more

Premier Energies shares are commanding a GMP (Grey Market Premium) of nearly Rs 421, or 93.56 per cent over the upper end of the IPO price, indicating solid listing gains for investors

Premier Energies IPO Allotment Status: The basis of allotment for Premier Energies IPO shares is scheduled for today. The public issue, offered at a price band of Rs 427-450, closed for subscription on August 29, 2024. The IPO received overwhelming interest from investors, with a subscription rate of 74.38 times by the final day. This was largely driven by Qualified Institutional Buyers (QIBs), who bid an extraordinary 216.67 times the shares on offer.

Meanwhile, non-institutional investors (NIIs) subscribed 50.04 times, and retail investors at 7.69 times by the close of the issue.

The Premier Energies public issue garnered mostly positive reviews from brokerages, including Reliance Securities, Deven Choksey, Anand Rathi Research, Choice, Geojit, Canara Bank Securities, and Swastika Investmart. READ MORE

Premier Energies allotment status

The shares of Premier Energies are expected to be allotted today. Once the allotment is finalised, investors can check their status on the official websites of BSE, NSE, or Kfin Technologies, the registrar for the issue. Alternatively, use the following direct links:

- Check Premier Energies IPO Allotment Status on BSE:  https://www.bseindia.com/investors/appli_check.aspx

- Check Premier Energies IPO Allotment Status on Kfin Technologie:  https://rti.kfintech.com/ipostatus/

- Check Premier Energies IPO Allotment Status on NSE:  https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp

Premier Energies IPO grey market premium (GMP)

Ahead of its debut on the stock exchanges, the unlisted shares of Premier Energies are trading at a premium of approximately Rs 421 or 93.56 per cent over the upper end of the IPO price, according to several grey market tracking websites. This indicates a strong possibility of a positive listing for Premier Energies shares.

Premier Energies expected listing price

Shares of Premier Energies are scheduled to list on the BSE and NSE on Tuesday, September 3, 2024. Based on the current GMP, the company’s shares are expected to list around Rs 871 (GMP + Issue Price), offering investors a potential return of over 93 per cent.

About Premier Energies

Premier Energies is an integrated manufacturer of solar PV cells and solar modules, including custom-made modules for specific applications. The company also provides end-to-end solar services for ground-mounted, rooftop, floating, canal bank, canal top, and hybrid power generation systems, as well as operations and maintenance (O&M) services for executed projects. Additionally, Premier Energies produces customised products like bespoke solar tiles and operates as an independent power producer, generating 2 MW of solar power from its plant in Jharkhand.