Shardul Amarchand Mangaldas & Co. advises Premier Energies Limited on its Initial Public Offering (IPO)

September 9, 2024

Shardul Amarchand Mangaldas & Co. advised Premier Energies Limited on its initial public offering of equity shares aggregating to approximately US$ 337.10 million through a combination of a fresh issue and an offer for sale of shares by one of the promoters, Chiranjeev Singh Saluja and the investor selling shareholders, South Asia Growth Fund II Holdings and South Asia EBT Trust (entities affiliated with GEF Capital). The equity shares were listed on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited on September 3, 2024.

The initial public offering was subscribed over 74.38 times overall, with the qualified institutional buyers component being subscribed over 216.17 times and the non-institutional buyers component being subscribed over 50.04 times.

SAM & Co. team was led by Prashant Gupta, Partner, National Practice Head – Capital Markets; Devi Prasad Patel, Partner; Kamiya Marwah, Senior Associate; Megha Mehta, Associate and Kaushik Parkhe, Associate.

Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and ICICI Securities Limited acted as the Book Running Lead Managers in the IPO.