Premier Energies IPO listing date today. GMP, experts see multibagger return for share allottees

Premier Energies IPO Listing: The equity shares of integrated solar cell and solar panel manufacturer Premier Energies Ltd are set to make their stock market debut today after the conclusion of its initial public offering (IPO). Premier Energies IPO received strong demand and now investors look for share listing today.

Premier Energies IPO listing date is today, September 3. The IPO commenced on August 27 and concluded on August 29. The IPO allotment was finalized on August 30 and the company has fixed Premier Energies IPO listing date as on September 3. Premier Energies shares will be listed on both the stock exchanges – BSE and NSE.

“Trading Members of the Exchange are hereby informed that effective from Tuesday, September 3, 2024, the equity shares of Premier Energies Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” a notice on BSE said.

Premier Energies shares will be a part of the Special Pre-open Session (SPOS) and hence the stock will be available for trading from 10:00 am on Tuesday, September 3.

Investors who have received shares in the Premier Energies IPO allotment watch out for the grey market premium (GMP) and other cues to gauge the listing price.

Analysts expect Premier Energies share listing to happen at a strong premium on the back of robust subscription for the company’s IPO. Premier Energies IPO GMP also signals a decent listing.

Here’s what Premier Energies IPO GMP shows and what analysts expect:

Premier Energies IPO GMP

Premier Energies IPO GMP today is ₹487 per share, according to stock market experts. This indicates that the Premier Energies shares are trading higher by ₹487 than their issue price in the grey market.

Considering the IPO GMP and the issue price, the estimated Premier Energies IPO listing price is ₹937 apiece, which is at a hefty premium of 108.22% to the issue price of ₹450 per share. This means the Premier Energies stock price can double on listing.

Premier Energies IPO Listing Expectations

Stock market analysts also expect a stellar Premier Energies share listing. Premier Energies IPO received a strong response from all types of investors especially from Qualified Institutional Buyers (QIB) category.

Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd believes the investor demand has come considering reasonable valuations, well-positioned to capitalize the industry demand in renewable energy and an opportunity to invest in India’s second-largest integrated solar cell and module manufacturer.

“Considering all the parameters like subscription demand, market sentiments and sectorial importance, we can expect a healthy robust listing gain more than ~60-70% or even above against the issue price of ₹450 per share. The long term sectorial story would remain intact but in case we see ~80-100% listing gain we recommend allotted investors to choose profit booking on the listing day. Such listing gain would be justified on the rationales mentioned above,” Tapse said.

Given the company’s strategic alignment with government initiatives promoting domestic solar production, alongside its diversified customer base and recognition as a top performer in module reliability, suggests a promising future, he added.

In the long run Tapse believes the market could give a premium multiple towards its leadership position; which may also deliver decent gains post listing.

“Post listing on the valuation front it can move from reasonable valued to stretched valuations which would be reason for profit booking attempts at high levels,” Tapse said.

Shivani Nyati, Head of Wealth, Swastika Investmart Ltd. also believes that Premier Energies Ltd is poised for a remarkable stock market debut.

“Although the solar manufacturing industry remains competitive, Premier Energies’ strategic positioning and focus on innovation differentiate it. Considering the company’s strong fundamentals, robust investor response, and favorable market conditions, Premier Energies is poised for an outstanding listing,” Nyati said.

Akriti Mehrotra, Research Analyst, Stoxbox expects Premier Energies shares to list with a premium of 110% to 120% and recommends investors to consider holding the shares for the medium to long term.

“Premier Energies reported a net income of ₹2,303 million in FY24, a turnaround from the previous loss. Significant investments, including a 4 GW TOPCon solar cell line, and a rise in ROCE to 25.6% underscore its solid market position. Investors should consider holding their shares for the medium to long term,” Mehrotra said.

Premier Energies IPO Details

Premier Energies IPO opened for public subscription on August 27 and closed on August 29. The IPO allotment was finalized on August 30 and Premier Energies IPO listing date is September 3. The shares of the company will be listed on both the stock exchanges – BSE and NSE.

Premier Energies IPO was subscribed by 74.38 times. The retail category was subscribed 7.69 times, non-institutional investors (NII) portion was booked 50.04 times and the QIB segment received 216.67 times subscription. The employee portion was booked 11.43 times, as per NSE data.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.