Aug 26, 2024
By: Sourabh Jain
Credit: Premier Energies
Hyderabad-based Premier Energies’s initial public offering (IPO) will open on August 27 and will close on Thursday, August 29.
Credit: iStock
Premier Energies has fixed a price band of ₹427-₹450 per share for its public issue.
Credit: Unsplash
Premier Energies is a Hyderabad-based manufacturer of integrated solar cells and solar panels. The company also offers EPC Solutions and O&M Solutions.
Credit: Premier Energies
Premier Energies is looking to raise ₹2,830.40 crore from the current IPO. This includes a fresh issue of ₹1,291.40 crore and an offer for sale (OFS) component of ₹1,539 crore.
Credit: iStock
Investors can bid for a minimum of 33 shares and in multiples of 33 shares thereafter.
Credit: Unsplash
The company, founded in 1995 currently has five manufacturing plants located in Hyderabad. The company’s clients include Tata Power Solar Systems, NTPC, Luminous and more.
Credit: Canva
The company’s income was ₹3,171.31 crore in FY24, up from ₹1,463.21 crore in FY23. The company reported a profit of ₹231.36 crore in FY24, up from ₹13.34 crore loss reported in FY23.
Credit: Canva
Over 66 percent of the company’s revenue comes from its top ten clients, any loss of these customers would have an adverse impact on the company’s business. Its manufacturing plants are concentrated in a single state.
Credit: Unsplash
The funds from the issue will be used for investing in the company’s subsidiary and general corporate purposes.
Credit: Canva
The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, and registered advisors for professional and personalised financial advice.
Credit: Canva