Premier Energies' subsidiaries bag orders worth Rs 765 cr; shares soar 10%

Premier Energies share price: Shares of solar cell manufacturer Premier Energies were buzzing in trade on Monday, October 14, 2024, as the scrip rallied as much as 9.92 per cent to hit an intraday high of Rs 1,217 per share.

The surge in Premier Energies share price came after the company announced that it has secured orders worth Rs 765 crore.

In an exchange filing, Premier Energies said, “We hereby inform you that Premier Energies International Private Ltd. and Premier Energies Photovoltaic Private Ltd., both subsidiaries of Premier Energies Limited, have 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.”  

Under the term of order, the subsidiaries will work towards supply of solar PV cells & modules. The company has secured multiple orders from 8 domestic customers and 1 foreign customer.

The supply of modules & cells are scheduled to be commenced in July 2025, Premier Energies said. 

Premier Energies IPO 
 

Shares of Premier Energies made a strong debut on the bourses on September 03. The company's shares listed at Rs 991 on the BSE, marking a 120.22 per cent premium over the upper end of its issue price of Rs 450. On the NSE, Premier Energies shares opened at Rs 990, reflecting a 120 per cent premium.

About Premier Energies
 

Premier Energies is an integrated manufacturer of solar PV cells and solar modules, including custom-made modules for specific applications. The company also provides end-to-end solar services for ground-mounted, rooftop, floating, canal bank, canal top, and hybrid power generation systems, as well as operations and maintenance (O&M) services for executed projects. Additionally, Premier Energies produces customised products like bespoke solar tiles and operates as an independent power producer, generating 2 MW of solar power from its plant in Jharkhand.

At 11:07 AM, shares of Premier Energies were trading 6.31 per cent higher at Rs 1,177 per share. In comparison, BSE Sensex was trading 0.51 per cent at 81,798.72 levels.