Shares of Premier Energies continued their upward trajectory on November 5, rising by 7% following the announcement of significant new orders for its subsidiaries, Premier Energies International and Premier Energies Photovoltaic.
The two subsidiaries collectively secured contracts worth ₹560 crore from major Independent Power Producers (IPPs) and other clients. According to a filing with the stock exchange, these new orders include ₹513 crore for solar modules and ₹47 crore for solar cells, with deliveries of the modules expected to begin in December 2024.
Furthermore, over the past month, both subsidiaries accepted additional orders totaling ₹765 crore, comprising ₹632 crore for solar modules and ₹133 crore for solar cells. These deliveries are scheduled to commence in July 2025.
Founded in April 1995, Premier Energies specializes in the manufacturing of integrated solar cells and panels. Its diverse offerings encompass solar modules, bifacial modules, EPC solutions, and O&M services, with production spread across five facilities located in Hyderabad, Telangana.
The company went public earlier this year, with its IPO, held from August 27 to August 29, raising approximately ₹2,830.40 crore. The IPO included a fresh issuance worth ₹1,291.40 crore and an offer for sale comprising 3.42 crore shares.
As of 1:35 pm, Premier Energies’ shares were trading 6.94% higher at ₹1,150.35 on the NSE.
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