Premier Energies Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹450
Per ShareLot Size
33 Shares
Minimum Investment
₹14,850
Issue Size
₹2,830.4 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Premier Energies Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
72.22%
Issue Type
Book Building
ISIN
INE0BS701011
About the Company
Premier Energies Limited is an integrated solar cell and module manufacturer with an annual installed capacity of 2 Gigawatts ("GW") for cells and 4.13 GW for modules as of June 30, 2024. In addition, to manufacturing solar cells and modules, the company provides engineering, procurement and construction ("EPC") solutions, operations and maintenance ("O&M") services and also operate as an independent power producer ("IPP"). As of the date of this Red Herring Prospectus, the company has five manufacturing facilities which are all located in Hyderabad, Telangana, India, and it conducts its operations through eight subsidiaries in India and overseas.
Industry Overview
Premier Energies Limited operates in the solar manufacturing industry in India which is on an accelerated growth trajectory owing to supply side measures such as the domestic content requirement, basic customs duty and approved list of models and manufacturers. India's module manufacturing capacity reached approximately 72 GW in FY2024 and while its current solar cell manufacturing capacity stands at 8.1 GW, it is also poised for future exponential growth. India's strong commitment to renewable energy, ambitious targets and favorable regulatory framework have attracted substantial investments in solar power projects, positioning India as a key player in the global solar market.
Company History
Premier Energies Limited was originally incorporated as a private limited company with the name "Premier Solar Systems Private Limited" under the provisions of the Companies Act, 1956, at Hyderabad, India, pursuant to a certificate of incorporation dated April 3, 1995, issued by the Registrar of Companies, Andhra Pradesh. Subsequently, pursuant to a Board resolution dated May 6, 2019 and a resolution passed at an extraordinary general meeting dated July 25, 2019, the name of the Company was changed to "Premier Energies Private Limited" and a fresh certificate of incorporation dated August 6, 2019 was issued by the Registrar of Companies, Telangana at Hyderabad ("RoC"). Upon the conversion of the Company into a public limited company, pursuant to a Board resolution dated September 3, 2019 and a Shareholders' resolution dated September 4, 2019, the name of the Company was changed to "Premier Energies Limited" and a fresh certificate of incorporation dated September 25, 2019 was issued by the RoC.
Products & Services
- Premier Energies Limited is an integrated solar cell and module manufacturer in India.
Growth Strategy
- Expand its overseas presence and increase its exports especially in the U.S. market through strategic backward integration of its production chain and establishing manufacturing capabilities outside of India.
- Develop and grow its rooftop solar offering.
- Capitalize on available market opportunities to grow its domestic business.
- Expanding and upgrading manufacturing capacities using the latest technology.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 62,909,200*# equity shares of face value of Re. 1 each ("Equity Shares") of Premier Energies Limited (The "Company" or the "Issuer") for cash at a price of Rs. 450 per equity share (the "Offer Price") aggregating to Rs. 2830.40*# crores (the "Offer") comprising a fresh issue of 28,709,200*# equity shares of face value of Re. 1 each by the company aggregating to Rs. 1291.40 crores*# (the "Fresh Issue") and an offer for sale of 34,200,000* equity shares of face value of Re. 1 each (the "Offered Shares") aggregating to Rs. 1539.00 crores (the "Offer for Sale"), comprising 26,827,200 equity shares of face value of Re. 1 each aggregating to Rs. 1207.22 crores by south asia growth fund ii holdings llc, 172,800 equity shares of face value of Re. 1 each aggregating to Rs. 7.78 crores by south asia ebt trust (together, the "Investor Selling Shareholders") and 7,200,000 equity shares of face value of Re. 1 each aggregating to Rs. 324.00 crores by Chiranjeev Singh Saluja (the "Promoter Selling Shareholder", and together with the investor selling shareholders, the "Selling Shareholders"). The offer included a reservation of 233,644* equity shares of face value of Re. 1 each, aggregating to Rs. 10.00 crores*# (constituting 0.05% of the post-offer paid-up equity share capital, for subscription by eligible employees ("Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer constitutes 13.96% and 13.90%, respectively, of the post-offer paid-up equity share capital of the company. *Subject to finalization of basis of allotment #a discount of Rs. 22 per equity share was offered to eligible employees bidding in the employee reservation portion.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- The Company is an integrated solar cell and solar module manufacturer.
- The Company has a long track record in the solar module manufacturing sector.
- The Company is experienced in solar cell line production.
- The Company has a diversified customer base with customer relationships both within India and overseas with a robust order book.
- The Company has an experienced Promoter-led senior management team.