Premier Energies IPO was oversubscribed 2.17 times on the first day of bidding. The IPO will remain open for subscription till August 29. The company specializes in producing solar cells and panels and operates five manufacturing facilities in Hyderabad, India. The IPO includes a fresh issue of equity shares worth ₹1,291.4 crore and an Offer for Sale of up to 3.42 crore shares. Promoters will offload a total of 3.42 crore shares. The estimated listing price of Premier Energies shares is projected to be ₹840 per share, reflecting an 86.67 per cent increase over the IPO price of ₹450. Grey market premium for the IPO stands at + ₹390.