Mumbai16 hours ago
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Next week, 2 Initial Public Offers (IPOs) will open for listing in the stock market. These include Premier Energies Limited and ECOS Mobility and Hospitality Limited. Let us know about the IPOs of these two companies one by one.
1. Premier Energies Limited
Premier Energies wants to raise a total of ₹2,830.40 crore through IPO. For this, the company is issuing 28,697,777 fresh shares worth ₹1,291.40 crore. At the same time, the existing investors of the company are selling 34,200,000 shares worth ₹1,539 crore through Offer for Sale i.e. OFS.
Investors will be able to bid for this IPO from August 27 to August 29. The company’s shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on September 3.
Retail investors can bid for a maximum of 429 shares
Premier Energies Limited has fixed the price band of this issue at ₹427-₹450. Retail investors can bid for a minimum of one lot i.e. 33 shares. If you apply for 1 lot as per the IPO’s upper price band of ₹450, then you will have to invest ₹14,850 for it.
At the same time, retail investors can apply for a maximum of 13 lots i.e. 429 shares. For this, investors will have to invest ₹ 193,050 according to the upper price band.
Premier Energies’ premium in grey market is 67.78%
Before the IPO opens, the company’s stock has reached a premium of 67.78% i.e. ₹ 305 per share in the grey market. In such a situation, according to the upper price band of ₹ 450, its listing can happen at ₹ 755. However, this can only be estimated, the listing price of the stock is different from the price of the grey market.
The company manufactures integrated solar cells and solar panels
Premier Energies Limited was founded in April 1995. The company manufactures integrated solar cells and solar panels. The company’s product portfolio includes cells, solar modules, monofacial modules, bifacial modules, EPC solutions and O&M solutions. The company has 5 manufacturing facilities, all located in Telangana.
The company’s customers include NTPC, Tata Power Solar Systems Ltd., Panasonic Life Solutions Pvt. Ltd., Continuum, Shakti Pumps, First Energy, Bluepine Energies Pvt. Ltd., Luminous and Heartek Solar Pvt. Ltd. The company sells its products in the country and exports them to the US, Hong Kong, South Africa, Bangladesh, Norway, Nepal, France, Malaysia, Canada, Sri Lanka, Germany, Hungary, United Arab Emirates, Uganda, Turkey, South Korea, China, Taiwan and the Philippines.
2. ECOS Mobility & Hospitality Limited
ECOS Mobility and Hospitality Limited wants to raise a total of ₹ 601.20 crore through IPO. For this, the existing investors of the company are selling 18,000,000 shares worth the entire ₹ 601.20 crore through offer for sale. Not a single fresh share is being issued for this IPO.
Investors will be able to bid for this IPO from August 28 to August 30. The company’s shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on September 4.
Retail investors can bid for a maximum of 572 shares
ECOS Mobility and Hospitality has fixed the price band of this issue at ₹318-₹334. Retail investors can bid for a minimum of one lot i.e. 44 shares. If you apply for 1 lot as per the IPO’s upper price band of ₹334, then you will have to invest ₹14,696 for it.
At the same time, retail investors can apply for a maximum of 13 lots i.e. 572 shares. For this, investors will have to invest ₹ 191,048 according to the upper price band.
ECOS Mobility & Hospitality’s premium in the grey market is 15.27%
Before the IPO opens, the company’s stock has reached a premium of 15.27% i.e. ₹ 51 per share in the grey market. In such a situation, according to the upper price band of ₹ 334, its listing can happen at ₹ 385. However, this can only be estimated, the listing price of the stock is different from the price of the grey market.
The company works to provide employee transport service
ECOS Mobility and Hospitality Limited provides car rental and employee transport services to corporate customers. With over 25 years of experience, the company operates in more than 100 cities in the country.
35% of the IPO of both the companies is reserved for retail investors
Both the companies have reserved 50% of their respective issues for qualified institutional buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
