Premier Energies is India’s 2nd largest integrated solar cell and solar module manufacturer with an annual installed capacity of 2 GW and 3.36 GW, respectively, as of March 31, 2024. In relation to only solar cells, the company is also the 2nd largest domestic manufacturer in terms of annual installed capacity as of March 31, 2024.
Company’s business operations include:
- The manufacturing of solar photovoltaic (“PV”) cells,
- The manufacturing of solar modules including custom made panels for specific applications,
- The execution of EPC projects,
- Independent power production,
- O&M services with respect to EPC projects executed by the company and,
- The sale of other solar-related products.
The company has 5 manufacturing facilities situated in Hyderabad Telangana, India. Currently, company’s manufacturing facilities has an annua installed capacity of 2 GW for solar cells and 3.36 GW for solar modules. For period April 2023 to January 2024, they were also the largest Indian exporter of solar cells to the United States (99% market share).
The company has exported its products United States, Hong Kong, South Africa, Bangladesh, Norway, Nepal, France, Malaysia, Canada, Sri Lanka, Germany, Hungary, the United Arab Emirates, Uganda, Turkey, South Korea, China, Taiwan and Philippines.
As of June 2024, the company had 1,447 employees and 3,278 Contract laborers.
Premier Energies IPO – Details
| IPO Opening Date | 27 August 2024 |
| IPO Closing Date | 29 August 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 6,28,97,778 Shares Worth ₹2830.40 Crore Fresh Issue: 2,86,97,778 Shares Worth ₹1291.40 Crore Offer For Sale: 3,42,00,000 Shares Worth ₹1539.00 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹427 – ₹450 per share |
| Market Lot | 33 Shares |
| Min Order | 33 Shares (1 Lot) |
| Employee Discount | ₹22 |
| Listing At | BSE, NSE |
| Register | KFin Technologies Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Premier Energies IPO – Date Schedule
| IPO Open Date | 27 August 2024 |
| IPO Close Date | 29 August 2024 |
| Basis of Allotment | 30 August 2024 |
| Initiation of Refund | 02 September 2024 |
| Credit of Shares to Demat Account | 02 September 2024 |
| IPO Listing Date | 03 September 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 29, 2024 |
Premier Energies IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 33 | ₹14,850 |
| Retail (Max) | 13 | 429 | ₹1,93,050 |
| S-HNI (Min) | 14 | 462 | ₹2,07,900 |
| S-HNI (Max) | 67 | 2,211 | ₹9,94,950 |
| B-HNI (Min) | 68 | 2,244 | ₹10,09,800 |
Competitive Strengths
- The company is an integrated solar cell and solar module manufacturer.
- The company has a long track record in the solar module manufacturing sector.
- The company is experienced in solar cell line production.
- The company is a diversified customer base with customer relationships both within India and overseas with a robust order book.
- The company has an experienced Promoter-led senior management team.
Company Promoters
- Surender Pal Singh Saluja
- Chiranjeev Singh Saluja
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 767.03 | 783.89 | -14.40 | 453.29 |
| 31 March 2023 | 1463.21 | 1472.19 | -13.33 | 763.54 |
| 31 March 2024 | 3171.31 | 2883.26 | 231.36 | 1392.24 |
| 30 June 2024 | 1668.79 | 1423.72 | 198.16 | 1200.15 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 43.73% |
| ROCE | 25.65% |
| Debt/Equity | 1.86 |
| RoNW | 37.46% |
| P/BV | 30.76 |
| PAT Margin (%) | 7.3 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 5.48 | 17.58 |
| P/E (x) | 82.09 | 25.59 |
Object Of The Issue
- Investment in company’s Subsidiary, Premier Energies Global Environment Private Limited for part-financing the establishment of a 4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana, India.
- General corporate purposes.
Premier Energies IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | Websol Energy System Limited | 501 |
Premier Energies IPO Promoter Holding
| Pre Issue Share Holding | 72.23% |
| Post Issue Share Holding | 66.03% |
Premier Energies IPO Prospectus
Company Contact Information
| Premier Energies Limited Plot No. 8/B/1 and 8/B/2, E- City, Maheshwaram Mandal, Raviryala Village, K.V. Rangareddy 501 359, Telangana, India Phone: + 91 90 3099 4222 Email: investors@premierenergies.com Website: www.premierenergies.com |
Premier Energies IPO Registrar
| KFin Technologies Limited Phone: +91 40 6716 2222 Email: pel.ipo@kfintech.com Website: https://rti.kfintech.com/ipostatus/ |
Premier Energies IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. J.P. Morgan India Private Limited 3. Kotak Mahindra Capital Company Limited |
Premier Energies IPO FAQs
| What is Premier Energies IPO? Premier Energies IPO is a main-board IPO. The issue is priced at ₹427 to ₹450 per equity share. The IPO is to be listed on BSE & NSE. |
| When Premier Energies IPO will open? The IPO is to open on 27 August 2024 for QIB, NII, and Retail Investors. |
| What is Premier Energies IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Premier Energies IPO? You can apply Premier Energies IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Premier Energies IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Premier Energies IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Premier Energies IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Premier Energies IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Premier Energies IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Premier Energies IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Premier Energies IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Premier Energies IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Premier Energies IPO Size? Premier Energies IPO size is ₹2830.40 Crore. |
| What is Premier Energies IPO Price Band? Premier Energies IPO Price Band is ₹427 to ₹450. |
| What is Premier Energies IPO Minimum and Maximum Lot Size for retail? The minimum bid is 33 Shares with ₹14,850 amount while the maximum bid is 429 Shares with ₹1,93,050. |
| What is the Premier Energies IPO Allotment Date? Premier Energies IPO allotment date is 30 August 2024. |
| What is the Premier Energies IPO Listing Date? Premier Energies IPO listing date is 03 September 2024. The IPO is to be listed on BSE and NSE. |
