Premier Energies Rs 2,830 Crore IPO Opens On August 27

Issue Details

• The issue will open on August 27 and close on August 29.
• The price band has been fixed at Rs 166-170
• The lot size is 85 shares.

Objects of the Offer

• To carry out Offer for Sale (OFS) of up to 16,645,292 Equity Shares
• To achieve the benefits of listing the Equity Shares on the Stock Exchanges.

The IPO comprises an offer for sale (OFS) of up to 16,645,292 equity shares by the promoter and existing shareholders.

The company plans to use the proceeds from the IPO to repay debt and for general corporate purposes.

Premier Energies is a leading integrated energy company with a presence across the entire energy value chain, from coal mining to power generation and distribution.

The company has a total generation capacity of 2,044 MW and a distribution network of over 10,000 circuit kilometers.

Premier Energies is also one of the largest coal producers in the country, with a production capacity of over 10 million tonnes per annum.

The company's financial performance has been strong in recent years. In FY22, Premier Energies reported a revenue of Rs 10,455 crore and a net profit of Rs 1,184 crore.

The IPO is expected to be well received by investors given the company's strong fundamentals and growth prospects.