Shares of recently listed solar company Premier Energy were seen doing well on Tuesday, 26 November. Shares of the company rose by 4 percent to Rs 1,136 on BSE. According to the information, the company had said in its filing to the stock exchanges that its subsidiaries, Premier Energy Global Environment, Premier Energies International and Premier Energies Photovoltaic, have received several orders totaling Rs 1,087 crore from two large independent power producers and other companies. . These orders include Rs 964 crore for solar modules and Rs 123 crore for solar cells. The supply of these modules is going to start in January 2025. In September, shares of solar cell and module maker Premier Energy were listed at a premium of over 120 per cent against the issue price of Rs 450. Let us also tell you how much rise was seen in the shares of the company on Tuesday.
Rise in company’s shares?
According to BSE data, when the market opened in the morning, there was a rise in the shares of Premier Energies. The company’s shares rose by 4 percent during the trading session and reached the day’s high of Rs 1136. However, the company’s shares opened with a higher note of Rs 1134.60 compared to Monday’s closing price of Rs 1092.20. At present i.e. at 1:20 pm, the company’s shares are trading at Rs 1102.35 with a rise of about one percent. By the way, the market cap of the company has reached Rs 49,691.11 crore.
How much profit has been made on the issue price?
The special thing is that investors have got a lot of benefit from the issue price of this share. The issue price of the company was Rs 450. The company’s shares on BSE have given investors a return of more than 152 percent. Premier Energies’ IPO was subscribed 74.09 times on the last day of subscription. The Rs 2,830 crore IPO included fresh issue of Rs 1,291.4 crore and OFS of 3,42,00,000 equity shares. The price band of IPO was kept at Rs 427-450 per share.
money spent here
The company had then said that Rs 968.6 crore of the proceeds from the new issue would be invested in the company’s subsidiary, Premier Energies Global Environment Pvt. Ltd. To partially finance the setting up of 4 GW Solar PV Topcon Cell and 4 GW Solar PV Topcon Module Manufacturing Facility at Hyderabad, Telangana. The remaining amount will be used for general corporate purposes. Established in 1995, Premier Energies is currently the country’s second largest integrated solar photovoltaic cell and module maker. Over the last two and a half decades, Premier Energies has grown from launching the first solar panel assembly line with a capacity of 3 MW/year to establishing a fully integrated 2 GW solar cell and 2.5 GW solar module line.