Premier Energies Limited successfully launched its initial public offering (IPO) of equity shares, raising approximately US$ 337.10 million. The offering combined a fresh issue and an offer for sale from one of the company’s key promoters, Chiranjeev Singh Saluja, alongside investors South Asia Growth Fund II Holdings and South Asia EBT Trust, both affiliated with GEF Capital.
This IPO saw immense interest, being oversubscribed 74.38 times overall. Institutional buyers showed the most enthusiasm, with their portion subscribed over 216.17 times, while non-institutional investors subscribed 50.04 times. The equity shares debuted on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 3, 2024.
Shardul Amarchand Mangaldas & Co. played a pivotal advisory role, with a legal team spearheaded by key partners from their Capital Markets division. The firm provided expert legal counsel throughout the process, ensuring a seamless transition from the offering to the listing.
The IPO was managed by an experienced consortium of book runners, including Kotak Mahindra Capital Company, J.P. Morgan India, and ICICI Securities.
