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Geojit Research Report
Premier Energies Ltd. launched its initial public offering on Aug. 27 for subscription and closes on Aug. 29. The manufacture of integrated solar cell and solar panel has fixed the price band in the range of Rs 427 to Rs 450 Apiece. The minimum bid size for the IPO is 33 shares.
The Rs 2,830.4 crore IPO consists of a fresh issue of Rs 1,291.4 crore and an offer-for-sale of 3.4 crore shares, aggregating to Rs 1,539 crore.
Purpose of IPO
The primary goal is to invest Rs 968.6 crore in Premier Energies Global Environment Pvt Ltd. to establish a 4 GW Solar PV TOPCon Cell and Module facility in Hyderabad, Telangana, India.
Key strength
An integrated solar cell and solar module manufacturer.
Long track record in the solar module manufacturing sector.
Experienced in solar cell line production.
Diversified customer base with customer relationships both within India and overseas with a robust order book.
Key strategies
Expand the overseas presence and increase the exports especially in the U.S. market through strategic backward integration of the production chain and establishing manufacturing capabilities outside of India.
Develop and grow the rooftop solar offering.
Capitalize on available market opportunities to grow the domestic business.
Expanding and upgrading manufacturing capacities using the latest technology.
Key Risks
~67.03% of the company’s revenue relies on its top 10 customers.
All manufacturing facilities are located in Hyderabad, Telangana.
Nearly half (48.5%) of the company’s purchases are imported from China.
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