Premier Energies IPO - Investment Rationale, Issue Details, Financials, Peer Comparison, Risks: Anand Rathi

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Anand Rathi Research Report.Premier Energies Ltd. will launch its initial public offering tomorrow for subscription and close on Aug. 29. The manufacture of integrated solar cell and solar panel has fixed the price band in the range of Rs 427 to Rs 450 Apiece. The minimum bid size for the IPO is 33 shares.The Rs 2,830.4 crore IPO consists of a fresh issue of Rs 1,291.4 crore and an offer-for-sale of 3.4 crore shares, aggregating to Rs 1,539 crore..Object of fresh issue: Investment in the Subsidiary, Premier Energies Global Environment Pvt. Ltd. for part-financing the establishment of a 4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana, India (the “Project”). General corporate purposes..Valuation and Outlook As of March 31, 2024, Premier Energies is rank as the second-largest integrated solar cell and module manufacturer in India and also hold the position of the country's second-largest solar cell producer by annual installed capacity. Their total annual installed capacity stands at 2 GW for solar cells and 4.13 GW for solar modules. They are involved in multiple stages of the solar power value chain, ranging from manufacturing solar cells and modules to offering EPC solutions, operation and maintenance services, and operating as an independent power producer. The company's P/E ratio is 87.7 times based on its FY24 earnings, though if we annualize the FY25 earning the P/E ratio comes down significantly to 25.5 times. Based on FY24 earnings it has a market cap-to-sales ratio of 6.4 times. We believe that the company is well positioned for future growth due to its strong market position, well diversified customer base along with high technical expertise. Therefore, we recommend “Subscribe – Long Term” rating to the IPO..Click on the attachment to read the full IPO report:.Premier Energies IPO: All You Need To Know.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Premier Energies IPO - Investment Rationale, Issue Details, Financials, Peer Comparison, Risks: Anand Rathi

The Rs 2,830.4 crore IPO will be launched tomorrow and the company has fixed the price band in the range of Rs 427 to Rs 450 Apiece.

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