Premier Energies IPO is making its stock market debut today, September 3. The company, which makes solar cells and panels, wrapped up its IPO on August 29, with allotments completed by August 30. Premier Energies shares will start trading on both the BSE and NSE today.
According to a BSE notice, the shares will be listed in the ‘B’ Group of Securities. They’ll be available for trading from 10:00 am, as part of the Special Pre-open Session (SPOS).
If you’ve been allotted shares in the Premier Energies IPO, keep an eye on the grey market premium (GMP) and other indicators to get a sense of the listing price.
Analysts believe the Premier Energies shares will start trading at a good premium because of the strong demand for the IPO. The GMP also suggests a positive listing.
Here’s a look at what the GMP indicates and what analysts are predicting for the Premier Energies IPO:
Premier Energies IPO GMP
Today, stock market experts say the grey market premium (GMP) for Premier Energies IPO shares is ₹487. This means the shares are trading ₹487 more than their issue price in the grey market.
With this GMP and the issue price, the expected listing price for Premier Energies shares is ₹937 each. This is a significant 108.22% higher than the issue price of ₹450 per share, suggesting the stock price could more than double when it starts trading.
Premier Energies IPO Listing Expectations
Stock market analysts are optimistic about Premier Energies’ IPO listing. The IPO drew strong interest from all types of investors, especially Qualified Institutional Buyers (QIBs).
Prashanth Tapse from Mehta Equities believes that the high demand is due to the company’s reasonable valuation, its position to benefit from the growing renewable energy sector, and its status as India’s second-largest integrated solar cell and module maker.
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Tapse expects the shares to list with a gain of over 60-70% compared to the issue price of ₹450 per share. If the gain is around 80-100%, he suggests investors consider selling some shares to lock in profits. He notes that the company’s alignment with government solar initiatives and its strong market position suggest a promising future.
Shivani Nyati from Swastika Investmart also expects a strong debut for Premier Energies. She highlights that while the solar industry is competitive, Premier Energies’ strategic focus and strong fundamentals set it apart.
Akriti Mehrotra from Stoxbox predicts the shares will list with a 110-120% premium. She advises holding onto the shares for the medium to long term, noting the company’s recent financial turnaround and significant investments in solar technology.
Premier Energies IPO Details
The Premier Energies IPO was open for public subscription from August 27 to August 29. Allotments were finalized on August 30, and the shares will start trading on September 3 on both the BSE and NSE.
The IPO was hugely popular, with total subscriptions at 74.38 times the number of shares available. Retail investors subscribed 7.69 times, non-institutional investors (NII) 50.04 times, and Qualified Institutional Buyers (QIB) 216.67 times. The employee portion was subscribed 11.43 times, according to NSE data.
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