Hyderabad-based solar cell manufacturer Premier Energies files for IPO to raise ₹1,500 crore for expanding manufacturing capacity and general corporate purposes.
Hyderabad-based solar cell manufacturer Premier Energies Ltd has filed preliminary papers with SEBI to raise funds through an IPO comprising a fresh issue of equity shares worth ₹1,500 crore and an offer for sale (OFS) of up to 2.82 crore shares by promoters and investors. The proceeds will be used to invest in a subsidiary and establish a 4GW solar PV TOPCon cell and module manufacturing facility in Hyderabad, and for general corporate purposes. The company, founded in 1995, is India's second-largest integrated solar cell and module manufacturer with a capacity of 2GW for cells and 3.36GW for modules.
April 20, 2024
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