Company name: Premier Energies Ltd
IPO Size: Fresh Issue of ₹1291.4 crore and Offer for Sale of 3.42 crore shares
IPO Dates: 27 August - 29 August
Price Band: ₹ 427-450
Lot Size: 33 Shares
Lead manager: Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, ICICI Securities Limited
Registrar: KFin Technologies
About the company:
Founded in April 1995, Premier Energies Limited specializes in producing integrated solar cells and panels. Its product range includes solar cells, solar modules, monofacial and bifacial modules, as well as EPC and O&M solutions.
The company operates five manufacturing facilities, all located in Hyderabad and Telangana. The company has shipped their products to various countries, including the United States, Hong Kong, South Africa, Bangladesh, Norway, Nepal, France, Malaysia, Canada, Sri Lanka, Germany, Hungary, the United Arab Emirates, Uganda, Turkey, South Korea, China, Taiwan, and the Philippines.
Clientele:
The company's clients include NTPC, TATA Power Solar Systems Limited, Panasonic Life Solutions Private Limited (“Panasonic”), Continuum, Shakti Pumps, First Energy, Bluepine Energies Private Limited, Luminous, Hartek Solar Private Limited (“Hartek”), Green Infra Wind Energy Limited (a subsidiary of Sembcorp Green Infra Limited), Madhav Infra Projects Limited (“Madhav”), SolarSquare Energy Private Limited (“SolarSquare”), and Axitec Energy India Private Limited (“Axitec”).
Financial Performance: (Figures in Rupees Crores)
Objectives of the issue:
The company plans to utilize the net proceeds of the IPO for the following purposes:
1. Investing in its subsidiary, Premier Energies Global Environment Private Limited, to partially finance the creation of a 4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana, India
2. General Corporate Purposes.
DISCLAIMER: All the information above is for educational purposes only and in any way is not a recommendation.
Top Management:
Surender Pal Singh Saluja is the Chairman and Whole-Time Director of our Company, and also one of its founders. He has been with the Company since it was established, playing a key role in shaping our business strategies and guiding the Board with his expertise. He holds a bachelor's degree in mechanical engineering from Karnatak University, Dharwad. In recognition of his entrepreneurial excellence, he received the National Award for Outstanding Entrepreneurship in Micro and Small Enterprises from the Indian government in 2007
Chiranjeev Singh Saluja is the Managing Director and a founding member of our Company, having been with us since 1997. He oversees all company operations and is instrumental in shaping both our short and long-term strategies. Chiranjeev completed his higher secondary education at Hyderabad Public School and St. Mary's Junior College in Hyderabad. He was also awarded a professional doctorate in global leadership and management by the European International University in Paris, France. Additionally, he is an active member of the Federation of Indian Chambers of Commerce and Industry and serves as a director at the All India Solar Industries Association.
Revathi Rohini Buragadda is an Executive Director at our Company, having joined on June 17, 2019. She manages indirect taxation, liaises with governmental agencies, and oversees general insurance for the Company and its Subsidiaries. Revathi holds a bachelor’s degree in agriculture from Andhra Pradesh Agricultural University and has previously served as a Deputy Commissioner of Commercial Taxes with the State Government of Andhra Pradesh.