Premier Energies IPO
Premier Energies Ltd
₹14,091 /33 sharesMinimum Investment
Premier Energies IPO Details
Bidding Dates | Min. Investment | Lot Size | Price Range |
---|
27 Aug ‘24 - 29 Aug ‘24 | ₹14,091 | 33 | ₹427 - ₹450 |
Issue Size | IPO Doc |
---|
2830.40Cr | |
Qualified Institutional Buyers | 216.67x |
Non-Institutional Investor | 49.44x |
Retail Individual Investor | 6.88x |
Employees | 10.09x |
Total | 73.83x |
Premier Energies is a manufacturer of solar cells and modules, with its core operations centred around the production of solar photovoltaic (PV) cells, specifically bifacial monocrystalline PERC cells using the M10 wafer size in a 182mm x 182mm format which could be assembled into solar modules. The company also produces solar modules, including monocrystalline PERC and TOPCon. These modules are available in different cell sizes, quantities, power outputs, and configurations, both monofacial and bifacial.
In addition to manufacturing, Premier Energies engages in the sale of customisable and ad-hoc solar products, the execution of engineering, procurement, and construction (EPC) projects, and the provision of operations and maintenance (O&M) services. The company operates five manufacturing facilities, all located in Hyderabad, Telangana, India, on properties that it owns.;
Managing director
Mr. Chiranjeev Singh Saluja
Parent organisation
Premier Energies Ltd
Strengths & Financials of Premier Energies
The company has experienced a consistent increase in revenue from operations, rising from Rs 742.87 crore in FY22 to Rs 1,428.53 crore in FY23, and further to Rs 3,143.79 crore in FY24.
Premier Energies' client base includes independent power producers (IPPs), original equipment manufacturers (OEMs), and off-grid operators. Notable clients include NTPC, Tata Power Solar Systems, Panasonic Life Solutions, Continuum, Shakti Pumps, First Energy, Bluepine Energies, Luminous, Hartek Solar, Green Infra Wind Energy, Madhav Infra Projects, SolarSquare Energy, and Axitec Energy India.
The company implements various environmental, social, and governance (ESG) initiatives to reduce its carbon footprint. Premier Energies uses a zero liquid discharge system that recycles 100% of the water used in manufacturing, with 91% of this water being reused and the remainder evaporating.
The company's integrated structure and backward integration strategy have facilitated market access for domestically consumed renewable (DCR) solar modules and also supported revenue streams from international markets, particularly the United States.
Domestically, Premier Energies serves customers across 23 states and Union Territories in India.
For the financial years ending March 31, 2022, 2023, and 2024, the company's top five customers accounted for Rs 373.63 crore (50.30%), Rs 818.59 crore (57.30%), and Rs 1,364.61 crore (43.41%), respectively, of total revenue. Loss of any of these key customers or a significant reduction in business from them could harm the company’s financial standing.
The success of Premier Energies hinges on two primary products: solar cells and modules. The continued market success of these products is crucial for the company's ongoing growth and stability.
Premier Energies' manufacturing operations are located in Telangana, India. This geographical concentration exposes the company to local and regional risks that could negatively impact its operations and financial outcomes.
In FY22 and FY23, the company reported losses of Rs 14.41 crore and Rs 13.34 crore, respectively. Continuing losses in the future could hurt the company's financial health.
Several of Premier Energies' subsidiaries, including Premier Energies Global Environment Private Limited, to which the net proceeds are directed, have experienced losses over the last three fiscal years and the first quarter of 2024. A repeat of such losses by these subsidiaries in the future could adversely impact the overall business.
As of June 30, 2024, Premier Energies' total indebtedness amounted to Rs 1,614.23 crore. Any inability to service or repay these loans could adversely affect the company.
Premier Energies Financials
*All values are in Rs. Cr
Application Details of Premier Energies IPO
Apply as | Price band | Apply Range |
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Regular | ₹427 - 450 | Upto ₹2 Lakh |
Employee | ₹405 - 428 | Upto ₹2 Lakh |
High Networth Individual | ₹427 - 450 | ₹2 - 5 Lakh |
For Premier Energies IPO, eligible investors can apply as Regular & Employee.