The allotment of shares in the initial public offering (IPO) of Premier Energies Ltd. is set to be finalised today, August 30 after a strong investor demand during the subscription. Premier Energies plans to list its shares on both the BSE and NSE, with a tentative listing date of September 3.

Premier Energies IPO, which aimed to raise ₹2,830 crore, was open for subscription from August 27 to August 29. The public issue saw a massive demand, getting oversubscribed over 74 times.

As per stock exchange data, investors bid for 330.37 crore equity shares against the 4.46 crore shares available for subscription.

Due to the high level of oversubscription, investors are eagerly awaiting the allotment results to see if they have been allotted shares.

How to Check Your IPO Allotment Status

Once the allotment is finalised, investors can check their IPO allotment status online. This can be done through the official website of the IPO registrar, Kfin Technologies, or the NSE and BSE websites. Here’s how:

Steps to Check Premier Energies IPO Allotment Status on the BSE Website:

1. Visit the BSE IPO Allotment Status page.

2. Select ‘Equity’ as the issue type.

3. Choose ‘Premier Energies’ from the drop-down menu.

4. Enter your IPO application number or PAN number.

5. Click ‘Search’ to view your allotment status.

Steps to Check Premier Energies IPO Allotment Status on the Registrar’s Website

1. Visit the Link Intime India Pvt Ltd website.

2. Select ‘Premier Energies’ from the list of IPOs.

3. Choose your identifier (PAN, Application number, DP/Client ID, or Account No/IFSC).

4. Enter the required details and click ‘Submit’ to view your status.

The Premier Energies IPO share allotment can also be checked on the NSE website.

Investors should keep their application details ready to check their status quickly. With such a high level of oversubscription, the allotment is expected to be competitive, making it even more important for investors to check promptly.

Premier Energies IPO Highlights

Premier Energies raised ₹846 crore from anchor investors on August 26, a day before the IPO opened for public subscription.

Premier Energies IPO comprised a fresh issue of 2.87 crore shares, amounting to ₹1,291.4 crore and an offer-for-sale (OFS) of up to 3.42 crore shares by promoters and existing shareholders, totalling ₹1,539 crore.

Shares were offered in the price range of ₹427 to ₹450 per share, with investors able to bid in lots of 33 shares.

The IPO proceeds will be used to invest in Premier Energies Global Environment Pvt. Ltd. to help finance a 4 GW Solar PV TOPCon Cell and a 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad.

TOPCon, or Tunnel Oxide Passivated Contact, is a new type of solar cell considered the next standard in PV technology.

About Premier Energies

Premier Energies Ltd is a leading manufacturer of integrated solar cells and solar panels. Their product line includes solar cells, monofacial and bifacial solar modules, EPC solutions, and O&M solutions.

The company operates five manufacturing plants, all located in Hyderabad, Telangana.