Shares of Premier Energies Ltd surged 4% and hit an intraday high of Rs 1,119.65 on Monday, 4 November, after the company’s subsidiaries Premier Energies Photovoltaic and Premier Energies International announced securing two significant orders worth Rs 560 crore from two major Independent Power Producers (IPPs) and others.

Delivery is scheduled to start in December 2024, and the orders total Rs 513 crore for solar modules and Rs 47 crore for solar cells. 

Both companies received and accepted several orders from different clients in the previous month, totalling Rs 765 crore. These purchases total Rs 133 crore for solar cells and Rs 632 crore for solar modules. 

These modules are expected to start being supplied in July 2025.

Premier Energies was founded in April 1995 and produces solar panels and integrated solar cells. Cells, solar modules, bifacial modules, EPC solutions, and O&M solutions are among its product offerings. Hyderabad, Telangana, has five industrial facilities.

Earlier this year, the company’s shares were listed on stock exchanges.

From 27 August to 29 August, Premier Energies’ initial public offering (IPO) was open. By selling off its shares, the business raised around Rs 2,830.40 crore, which included an offer to sell 3.42 crore shares and a fresh share sale of Rs 1,291.40 crore.

Outperforming the returns of the Nifty, the stock has increased by about 29% since its IPO in September.

At 3:06 pm, the shares of Premier Energies were trading 0.53% higher at Rs 1,081.60 on NSE.

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