03 PM, and on the BSE, it tanked 13.

14% to trade at ₹860.

75.

The stock made its debut at ₹991, surging 120.

22% from the issue price on the BSE, and later soared 120.

76% to ₹993.

45.

The IPO of Premier Energies, which was fully subscribed on the first day of subscription, included a fresh issue of up to ₹1,291.

4 crore and an offer-for-sale of up to 3,42,00,000 equity shares.

Proceeds from the fresh issue, amounting to ₹968.

6 crore, will be allocated for investment in the company’s subsidiary, Premier Energies Global Environment Pvt Ltd, for part-financing the establishment of a 4GW Solar PV TOPCon Cell and 4GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana.

The remaining funds will be used for general corporate purposes.

Premier Energies is an integrated solar cell and solar module manufacturer with 29 years of experience and an annual installed capacity of 2GW for solar cells and 4.

13GW for solar modules.

The company has five manufacturing facilities.

Kotak Mahindra Capital Company, JPMorgan India, and ICICI Securities are the book-running lead managers to the offer.

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