NSE Premier Energies IPO: Exceptional Listing at 120% Premium on BSE
Monday, 2 September 2024, 21:53
Premier Energies IPO Listing Overview
Premier Energies made a remarkable debut on the NSE, listing at Rs 990, marking a premium of 120% over its issue price. The IPO was oversubscribed by an astonishing 75 times the number of shares offered.
GMP and Market Reception
- Grey Market Premium (GMP): Prior to listing, Premier Energies shares were trading at a stunning GMP of 108%.
- Investment Details: The IPO price range was set between Rs 427 and Rs 450 per equity share, effectively raising Rs 2,830.40 crore via new shares and an offer for sale.
IPO Timeline and Allotment
The IPO was available to investors from August 27 to August 29, with the allotment finalized on August 30. Retail investors could apply for a minimum of 33 shares, equating to an investment of Rs 14,850.
Employee Reservation and Management
- A total of 233,644 shares were earmarked for employees, offered at a discount of Rs 22 from the issue price.
- The book-running lead managers for this IPO included Kotak Mahindra Capital Company, J.P. Morgan India, and ICICI Securities, while Kfin Technologies managed registrations.
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