The initial public offerings (IPO) of Premier Energies is all set to open for subscription on August 27. The mainboard segment IPO will remain for bidding till August 29.

The company, which manufacturer of integrated solar cell and solar panel, has set the price band at ₹427 to ₹450 per share, with a face value of ₹1.

The shares of Premier Energies is currently trading at a premium of ₹330 per share in the grey market premium (GMP), according to investorgain.com. This means that the estimated listing of the Premier Energies IPO is ₹780, which is 73.33 per cent higher than the issue price of ₹450.

The GMP of the upcoming public issue predicts a strong listing on the Indian bourses. The lowest GMP is ₹190, while the highest GMP is ₹330, as per investorgain.

Premier Energies IPO details

The Premier Energies IPO is a book-built issue totaling ₹2,830.40 crore. It consists of a fresh issue of 2.87 crore shares, amounting to ₹1,291.40 crore, and an offer for sale of 3.42 crore shares, amounting to ₹1,539 crores.

The price band for the Premier Energies IPO is set between ₹427 and ₹450 per share. Investors need to apply for a minimum of 33 shares, making the minimum investment amount for retail investors ₹14,850.

The allotment for the Premier Energies IPO is anticipated to be finalized on Friday, August 30. The IPO is expected to be listed on the BSE and NSE, with a tentative listing date set for Tuesday, September 3.

The net offer has reserved 50 per cent to qualified institutional buyers, 15 per cent to non-institutional investors, and 35 per cent to retail investors.

Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, and ICICI Securities Limited are the lead book-running managers for the Premier Energies IPO, with Kfin Technologies Limited serving as the registrar for the issue.