A new listing today - Premier Energies. As against the IPO price of Rs.450, the stock got listed on the BSE at Rs.991, a premium of 120%. It went up to Rs.993 and is now trading at Rs.872 levels.

The IPO had met with a very good response, overall subscribing 75x with giant portion taken over by QIBs at 212.42x, HNIs at 50.98x and Retail at 7.44x.

Premier Energies is a Telangana-based integrated solar energy player with an installed manufacturing capacity of 2 GW solar cells and 4 GW solar modules. But effective capacity is 1.5 GW solar cells and 2.5 GW solar modules, due to technological obsolescence. Of the current effective capacity, 1 GW module capacity was commissioned on 30.6.24, providing bright outlook for future revenue. 

Our conclusion in the IPO Analysis - Premier appears as a quality mid-cap stock with strong fundamentals and presence in sunrise solar energy sector. Thus, the IPO is a ‘subscribe’ with both short-term and long-term outlook encouraging.