New Delhi: Solar cell and module maker Premier Energies Ltd on Thursday said it has set a price range of Rs 427-450 per share for its Rs 2,830 crore initial public offering (IPO).
The Hyderabad-based company said the initial share-sale will open on August 27 and end on August 29 and bidding for anchor investors will open for one day on August 26.
The IPO is a combination of a fresh issue of equity shares worth up to Rs 1,291.4 crore and an offer for sale (OFS) of 3.42 crore shares by selling shareholders, valuing it at Rs 1,539 crore at the upper end. Price Band. This takes the total issue size to Rs 2,830 crore.
Under the OFS component, South Asia Growth Fund II Holdings LLC will sell 2.68 crore shares, South Asia EBT will sell 1.72 lakh shares and promoter Chiranjeev Singh Saluja will sell 72 lakh shares.
The proceeds of Rs 968.6 crore from the fresh issue will be allocated for investment in the company's subsidiary, Premier Energies Global Environments Pvt Ltd, to partially finance the installation of 4 GW solar PV Topcon cells and 4 GW solar PV Topcon modules. Can go. Manufacturing facility in Hyderabad and for general corporate purposes.
After the listing, the market capitalization of the company is estimated at more than Rs 20,000 crore.
Premier Energies is an integrated solar cell and solar module manufacturer with 29 years of experience and has an annual installed capacity of 2 GW for solar cells and 4.13 GW for solar modules.
It has five manufacturing facilities. By fiscal year 2024, the company's revenue from operations is expected to increase to Rs 3,143 crore from Rs 1,428 crore in the previous financial year.
Kotak Mahindra Capital Company Limited, J.P. Morgan India and ICICI Securities are the book running lead managers to the issue.
The Hyderabad-based company said the initial share-sale will open on August 27 and end on August 29 and bidding for anchor investors will open for one day on August 26.
The IPO is a combination of a fresh issue of equity shares worth up to Rs 1,291.4 crore and an offer for sale (OFS) of 3.42 crore shares by selling shareholders, valuing it at Rs 1,539 crore at the upper end. Price Band. This takes the total issue size to Rs 2,830 crore.
Under the OFS component, South Asia Growth Fund II Holdings LLC will sell 2.68 crore shares, South Asia EBT will sell 1.72 lakh shares and promoter Chiranjeev Singh Saluja will sell 72 lakh shares.
The proceeds of Rs 968.6 crore from the fresh issue will be allocated for investment in the company's subsidiary, Premier Energies Global Environments Pvt Ltd, to partially finance the installation of 4 GW solar PV Topcon cells and 4 GW solar PV Topcon modules. Can go. Manufacturing facility in Hyderabad and for general corporate purposes.
After the listing, the market capitalization of the company is estimated at more than Rs 20,000 crore.
Premier Energies is an integrated solar cell and solar module manufacturer with 29 years of experience and has an annual installed capacity of 2 GW for solar cells and 4.13 GW for solar modules.
It has five manufacturing facilities. By fiscal year 2024, the company's revenue from operations is expected to increase to Rs 3,143 crore from Rs 1,428 crore in the previous financial year.
Kotak Mahindra Capital Company Limited, J.P. Morgan India and ICICI Securities are the book running lead managers to the issue.
