Premier Energies stock edges up after subsidiaries bag orders worth Rs 560 crore

Premier Energies manufactures integrated solar cells and solar panels

Shares of Premier Energies gained on November 4 after its subsidiaries Premier Energies International and Premier Energies Photovoltaic received orders totaling Rs 560 crore from two major Independent Power Producers (IPPs) and others.

The orders include Rs 513 crore for solar modules and Rs 47 crore for solar cells, with module deliveries set to begin in December 2024. At 9:25 am, Premier Energy shares were trading around half a percent higher at Rs 1,082 on the National Stock Exchange (NSE).

In the month gone by, both subsidiaries received and accepted multiple orders from various customers amounting to a total value of Rs 765 crore. These orders comprise Rs 632 crore for solar modules and Rs 133 crore for solar cells.

The supply of these modules is scheduled to commence in July 2025

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Incorporated in April 1995, 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 in Hyderabad, Telangana. Shares of the company got listed on bourses earlier this year.

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

Since its listing in September, the stock has risen around 29 percent, outperforming Nifty's returns during this period.

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