Shares of Premier Energies saw a slight uptick on November 4 following news that its subsidiaries, Premier Energies International and Premier Energies Photovoltaic, secured orders worth Rs 560 crore from major Independent Power Producers (IPPs) and other clients. The orders, valued at Rs 513 crore for solar modules and Rs 47 crore for solar cells, will see module deliveries start in December 2024. By 9:25 am, Premier Energies shares were trading around half a percent higher at Rs 1,082 on the NSE.
In addition to the latest orders, both subsidiaries have accepted multiple contracts totaling Rs 765 crore in the past month, which include Rs 632 crore for solar modules and Rs 133 crore for solar cells, with deliveries scheduled to begin in July 2025.
Incorporated in 1995, Premier Energies is deep-seated in solar cells, solar modules, bifacial modules, EPC solutions, as well as O&M solutions with five manufacturing facilities in Hyderabad, Telangana. The firm went in for a public issue recently through the IPO last month that fetched around Rs 2,830.40 crore comprising a fresh issue of Rs 1,291.40 crore and an offer for sale of 3.42 crore shares. The stock of Premier Energies has rallied about 29% since listing in September, outpacing Nifty returns during the same period.
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Source: Moneycontrol
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