Company Overview:
Founded in April 1995, Premier Energies Limited has emerged as a leading player in the manufacturing of integrated solar cells and panels. Their product range is diverse and includes:
- Solar Cells
- Solar Modules
- Monofacial Modules
- Bifacial Modules
- EPC (Engineering, Procurement, and Construction) Services
- O&M (Operations & Maintenance) Services
The company operates five advanced manufacturing facilities, all strategically based in Hyderabad, Telangana, India.
Clientele & Global Presence
Premier Energies has built an extensive clientele, serving major industry players like NTPC, TATA Power Solar Systems Limited, Panasonic Life Solutions Private Limited, Continuum, and Shakti Pumps, among others. The company has also established a significant global presence, exporting its products to countries such as the United States, Hong Kong, South Africa, France, UAE, China, Germany, and more.
Key Objectives of the IPO
Project Financing:
Funds will be allocated to its subsidiary, Premier Energies Global Environment Private Limited, to partially finance the creation of a 4 GW Solar PV TOPCon Cell and a 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana, India.
General Corporate Purposes:
A portion of the funds will be used for general corporate activities.
Promoter Holding
- Pre-Issue Holding: 72.22%
- Post-Issue Holding: 66.03%
The key promoters of Premier Energies Limited are Surender Pal Singh Saluja and Chiranjeev Singh Saluja.
Summary of Financial Information:
| Period Ended | 30-Jun-24 | 21-Mar-24 | 31-Mar-23 | 31-Mar-22 |
|---|---|---|---|---|
| Assets | 3,735.50 | 3,554.13 | 2,110.69 | 1,341.49 |
| Revenue | 1,668.79 | 3,171.31 | 1,463.21 | 767.03 |
| Profit After Tax | 198.16 | 231.36 | -13.34 | -14.41 |
| Net Worth | 26.96 | 36.49 | -0.24 | -0.51 |
| Reserves and Surplus | 255.73 | 455.76 | 224.4 | 209.2 |
| Total Borrowing | 1,200.16 | 1,392.24 | 763.54 | 453.3 |
Comparison with Listed Peers:
| Company Name | P/E | P/B | RoE (%) |
|---|---|---|---|
| Premier Energies Ltd | 24 | 10 | 44 |
| Websol Energy System Ltd | - | 29 | - |
Key details of the IPO:
- IPO Dates:Â 27 to 29 August 2024
- Price Band:Â Rs. 427 to Rs. 450 per share
- Lot Size:Â 33 shares
- Listing Date: 3 Sep, 2024
- Total Issue Size:Â Rs. 2,830.40 Crores (Fresh Issue: 1241.40 Cr.)
- Retail Quota:Â 35%
- GMP:Â 73% (Only for informational purposes)
Note: For additional information & risk factors please refer to the Red Herring Prospectus
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Disclaimer: We are not SEBI registered. All the views are personal and only for educational purposes. Do your due diligence before making any trading or investing decisions. The data provided in this blog post is for illustrative purposes only and does not constitute financial advice. Always consult with a qualified financial advisor before making investment decisions.
