Premier Energies shares more than double investors money on listing; debut at Rs 991 per share on BSE
Premier Energies listing: Shares made a stellar listing doubling investors money in a very small timeframe.
Premier Energies made a strong debut on the bourses today as expected doubling investors' money. The stock on the NSE listed at a price of Rs 990 as against the issue price of Rs 450, while on the BSE it listed at Rs 991, up over 120 per cent against the issue price.\
The issue which ran between August 27- August 29 garnered a total subscription of 74.38 tines, led by the qualified institutional buyer (QIBs).
Anil Singhvi's view on Premier Energies listing
Zee Business Managing Editor expected the stock to double on listing and see debut at around Rs 900- 950 per share. "We advised to apply for big listing gains and long term.Short term investors hold their position with sl of 850 and keep trailing their stop loss, he added.
About Premier Energies IPO
The company's issue offered 62.9 million shares. Post the issue, promoter shareholding in the stock will be reduced to 60 per cent.
Premier Energies Ltd. was incorporated on April 3, 1995. The company's business operations include the manufacturing of solar photovoltaic cells, the manufacturing of solar modules including custom made panels for specific applications, the execution of EPC projects, independent power production, O&M services with respect to EPC projects executed by the company and the sale of other solar-related products.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.