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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Funding subsidiary's new manufacturing facility
Investing in a subsidiary to help part-finance a new 4 GW solar cell and 4 GW solar module TOPCon manufacturing facility in Hyderabad.
General corporate purposes
Funding general corporate purposes from the balance of the net fresh issue proceeds.
(₹ in Crore)
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Premier Energies Limited is an integrated manufacturer of solar photovoltaic cells and solar modules, producing bifacial monocrystalline PERC cells and transitioning toward TOPCon cell and module technology. Beyond cells and modules, the company makes custom solar products such as solar tiles, executes EPC projects for solar power systems, offers operations and maintenance services, and runs a small independent power plant in Jharkhand. Incorporated in 1995 and based in Hyderabad, the company runs five manufacturing units and employs roughly 1,450 people plus a large contract workforce. As of March 2024 it had an installed capacity of about 2 GW for solar cells and 3.36 GW for solar modules, making it, by capacity, the second-largest integrated solar cell and module manufacturer in India. It serves close to 200 customers across around 23 Indian states and union territories, alongside roughly 27 overseas customers spanning multiple continents. The company carried a large order book of nearly Rs 5,927 crore as of July 2024 and planned to use a substantial part of the public issue proceeds to help fund a new 4 GW TOPCon solar cell and 4 GW TOPCon module manufacturing facility through a subsidiary. After reporting losses in the two years before the offer, it returned to strong profitability in the most recent full year, competing in a market that includes other listed solar manufacturers such as Waaree Energies and Websol Energy System.
Ahead of the offer the company raised about Rs 846 crore from anchor investors at the issue's upper price band.
Source: RHP • Analysis provided for informational purposes
Last Updated: 14 July 2026, 11:05 PM
Scale in solar manufacturing
The company is India's second-largest integrated solar cell and module manufacturer by installed capacity, giving it meaningful scale advantages in a fast-growing market.
Advancing manufacturing technology
The company has progressed from polycrystalline to monocrystalline PERC and is now moving into TOPCon cell and module technology, keeping its product line closer to the industry's efficiency frontier.
Diversified, global customer base
The company sells to roughly 200 domestic customers across many Indian states along with dozens of overseas customers, reducing dependence on any single market.
Customer concentration
A meaningful share of revenue comes from a limited number of large customers, so the loss of any one of them could materially affect results.
Single-industry dependence
The business is entirely tied to solar cell and module demand, leaving it exposed to shifts in solar policy, incentives, or technology.
Reliance on imported machinery
The company depends on machinery imported mainly from China, exposing it to tariff changes and supply chain disruptions outside its control.
Premier Energies Limited
Plot No. 8/B/1 and 8/B/2, E-City, Maheshwaram Mandal, Raviryala Village, K.V. Rangareddy - 501359, Telangana, India
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