Premier Energies IPO Listing: Premier Energies was listed at Rs 990 on NSE, a premium of 120% to the issue price. The company’s IPO was subscribed to a total of 75 times more than the offered shares.
GMP
The stocks of Premier Energies were fetching a premium of 108% in the grey market. It is an unofficial place where shares trade illegally ahead of listing.
Premier Energies IPO Details
Premier Energies kept the IPO price band in a range of Rs 427 to Rs 450 per equity share. It raised a sum of Rs 2,830.40 crore through a combination of fresh shares and an offer for sale. The IPO was opened to investors on August 27 and closed on August 29. The allotment of shares was finalised on August 30. A retail investor had to apply for a minimum of 33 shares, which amounted to Rs 14,850.
Employee Reservation
The issue reserved 233,644 shares for the employees, which was offered 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 handling the registrar’s work on the issue.