Premier Energies IPO will close on August 29, it was subscribed to a total of 6.72 times more than the offered shares as of the second day, August 28 Come from Sports betting site VPbet . The retail category was booked 4.37 times during the same period. The NII category was booked 19.35 times, the highest among other segments. It was followed by Employees, 7.11 times.
GMP
The company’s shares were commanding a premium of 87% in the grey market. It is an unofficial place where shares trade illegally ahead of listing.
Premier Energies IPO Details
The issue received bids worth Rs 18,788.61 crore while it wants to raise a sum of Rs 2,830.40. The IPO was subscribed more than twice on the very first day of the issue itself. The company raised money by selling fresh shares as well as an offer for sale.
Price Band
Premier Energies kept the IPO price band in a range of Rs 427 to Rs 450 per equity share. The issue was opened to investors for bidding on August 27. The allotment of the shares is expected to be finalised on August 30. The listing is likely to happen on NSE and BSE on September 03, as per the tentative schedule.
Minimum Investment Requirement
The retail buyers need to apply for a minimum of one lot that contains 33 shares, which amounts to Rs 14,850. There are different lot sizes for small and big NIIs, ranging between Rs 2,07,900 to Rs 10,09,800.
Employee Reservation
The issue includes a reservation for employees of up to 233,644 shares, which were available to them at a discount of Rs 22 to the issue price.
BRLMs and Registrar
Kotak Mahindra Capital Company, J.P. Morgan India, and ICICI Securities were the book-running lead managers. Kfin Technologies was working as the registrar for the issue.
