Premier Energies shares in news as firm wins multiple orders

Shares of Premier Energies Ltd are in news today after the firm said its subsidiaries have won multiple orders worth Rs 1460 crore from two large independent power producers (IPP) and others. These orders include Rs 1,041 crore for solar modules and Rs 419 crore for solar PV cells. The supply of these modules is set to start in May 2025.

The stock ended 1.74% higher at Rs 1115.40 on Tuesday against the previous close of Rs 1096.35 on BSE. Around 1.38 lakh shares changed hands amounting to a turnover of Rs 15.39 crore on BSE. Market capitalisation (m-cap) of the firm rose to Rs 50,279 crore.
 
"We hereby inform you that Premier Energies Global Environment Private Limited, Premier Energies International Private Limited, Premier Energies Photovoltaic Private Limited the subsidiaries of Premier Energies Limited, have received and accepted multiple orders aggregating to Rs 1460 Crore from 2 large Independent Power Producers (IPP) and others. These orders include INR 1041 Crores for Solar Modules and INR 419 Crores for Solar Cells. The supply of these modules is scheduled to commences from May 2025," said Premier Energies in a communication to bourses. 

The initial public offering (IPO) of Premier Energies was open from August 27 to August 29 in 2024. The company raised about Rs 2,830.40 cr via the share sale, which included a fresh share sale of Rs 1,291.40 crore and an offer for sale of 3.42 crore shares.

Premier Energies manufactures integrated solar cells and solar panels. Its product portfolio includes cell, solar modules, bifacial modules, EPC solutions and O&M solutions. It has five manufacturing units, all of which are situated in Hyderabad, Telangana.