Premier Energies Shares Jump 16.1% On Order Win From UP Govt

Premier Energies shares today witnessed rally of 16.1% on BSE after the company bagged Rs 215 crore order from Uttar Pradesh government. Current market price of Premier Energies shares on BSE is Rs 978.00 per share. Premier Energies has a market capitalisation of Rs 44,074.46 crore. Check details below:

Premier Energies Receives Order From UP Govt: As per the regulatory filing of Premier Energies dated September 5, 2024, "Pursuant to Regulation 30 and other respective regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that the Company has received order from Uttar Pradesh Department of Agriculture for the supply, installation, and commissioning with 5 years comprehensive warranty of 8,085 solar water pumping systems across various districts in the state. This project, valued at Rs. 215 Crores, is scheduled for completion by March 2025."

This initiative falls under Component-B of PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan) Scheme aimed at ensuring energy security for farmers in India, along with honouring India's commitment to increase the share of installed capacity of electric power from non-fossil-fuel sources to 40% by 2030 as part of Intended Nationally Determined Contributions (INDCs), added the regulatory filing.

Premier Energies Shares Performance: The 52-week high price of Premier Energies shares on BSE is Rs 993.45 per share (as on 03/09/2024) and 52-week low price is Rs 801.60 per share (as on 03/09/2024), respectively.

Premier Energies Limited made a stellar entry into the stock market on September 3, 2024. Its shares made debut on the National Stock Exchange (NSE) at Rs 990 per share, a huge 120% premium over its issue price of Rs 450 apiece. On the Bombay Stock Exchange (BSE), Premier Energies share was listed at Rs 991, a premium of 120.22%.

Earlier, the Rs 2,830.40 crore IPO of Premier Energies opened for subscription on August 27, 2024, and closed on August 29, 2024. The IPO was highly anticipated in the market, given the company's leading position in the solar cell and module manufacturing sector. The price band was set between Rs 427 and Rs 450 per share. Before the IPO was launched, Premier Energies had already managed to raise Rs 846 crore from anchor investors.

About: Established in 1995, Premier Energies is an integrated solar cell and solar module manufacturing company. Backed by GEF Capital, a Washington DC based Private Equity Investor, Premier Energies is at the forefront of innovative technology, crafting photovoltaic products and solutions. Premier Energies' cutting-edge manufacturing units are spread across three locations in Telangana, totaling an aggregate land area of over 44.91 acres. As of March 31st, 2024, the company boasts an annual production capacity of 2 GW for solar cells and 3.36 GW for solar modules. Additionally, another Topcon Cell line and module line, covering a combined land area of 75 acres, are currently under development. These new facilities are projected to have Cell and Module Facility, according to the official website.