Shares of Premier Energies Ltd soared 4% higher on Tuesday, 26 November, after the company announced that its subsidiaries, Premier Energies Global Environment Private Limited, Premier Energies Photovoltaic Private Limited, and Premier Energies International Private Limited, had received and accepted multiple orders totalling Rs 1,087 crore from two major Independent Power Producers (IPP) and one other customer. 

In an exchange filing, Premie Energies said, “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 1,087 Crore from 2 large Independent Power Producers (IPP) and 1 other customer. These orders include Rs 964 crore for Solar Modules and Rs 123 crore for Solar Cells.”

According to a statement from the business, the supply of these modules is expected to start in January 2025.

“This is further informed that the trading window will remain closed from 26 November, 2024 till 27 November, 2024 (both days inclusive). Trading window will be re-opened on Thursday, 28 November 2024,” Premier Energies said.

Earlier on 3 September, Premier Energies’ shares made a successful market debut. The BSE listed the company’s shares at Rs 991, which was 120.22% more than the Rs 450 upper limit of their issuance price. Premier Energies’ shares opened at Rs 990 on the NSE, representing a 120% premium.

Premier Energies is a comprehensive producer of solar PV cells and modules, including specially designed modules for particular uses. Along with operations and maintenance (O&M) services for completed projects, the company offers end-to-end solar services for ground-mounted, rooftop, floating, canal bank, canal top, and hybrid power generation systems. Premier Energies also functions as an independent power producer and manufactures customized goods, such as custom solar tiles.

At 1:15 pm, the shares of Premier Energies were trading 0.84% higher at Rs 1,105.20 on NSE. 

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