NEW DELHI: Solar cell firm Premier Energies Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds by an preliminary public providing (IPO). The Hyderabad-based firm’s IPO is a mixture of a recent challenge of fairness shares value Rs 1,500 crore and a proposal on the market (OFS) of up to 2.82 crore shares by a promoter and buyers, in accordance to the draft crimson herring prospectus (DRHP) made public on Saturday.
Under the OFS part, South Asia Growth Fund II Holdings LLC will divest 2.38 crore fairness shares, South Asia EBT Trust will divest 1.53 lakh fairness shares, and promoter Chiranjeev Singh Saluja will promote 42 lakh fairness shares.
The firm could contemplate a pre-IPO placement aggregating up to Rs 300 crore. If such placement is undertaken, the recent challenge dimension shall be decreased.
Proceeds from the recent challenge of Rs 1,168 crore shall be used for investing in subsidiary Premier Energies Global Environment Private Ltd, to partially finance the institution of a 4GW photo voltaic PV TOPCon (tunnel oxide passivated contact) cell and 4GW photo voltaic PV TOPCon module manufacturing facility in Hyderabad, and the rest shall be allotted in direction of basic company functions.
Founded in 1995, Premier Energies is an built-in photo voltaic cell and module producer with a 2GW capability for cells and three.36GW for modules.
Additionally, the corporate gives EPC options, O&M (operations & upkeep) providers, and operates as an impartial energy producer (IPO).
It has 5 manufacturing services, together with in Hyderabad and Telangana.
As of FY23, its income from operations stood at Rs 1,428 crore, and Rs 2,017 crore for the 9 months ended December 31, 2023.
The firm had an order ebook of over Rs 5,300 crore as of March this yr.
Kotak Mahindra Capital Company Ltd, JP Morgan India Private Ltd and ICICI Securities Ltd are the book-running lead managers to the problem. The fairness shares are proposed to be listed on BSE and NSE.
Under the OFS part, South Asia Growth Fund II Holdings LLC will divest 2.38 crore fairness shares, South Asia EBT Trust will divest 1.53 lakh fairness shares, and promoter Chiranjeev Singh Saluja will promote 42 lakh fairness shares.
The firm could contemplate a pre-IPO placement aggregating up to Rs 300 crore. If such placement is undertaken, the recent challenge dimension shall be decreased.
Proceeds from the recent challenge of Rs 1,168 crore shall be used for investing in subsidiary Premier Energies Global Environment Private Ltd, to partially finance the institution of a 4GW photo voltaic PV TOPCon (tunnel oxide passivated contact) cell and 4GW photo voltaic PV TOPCon module manufacturing facility in Hyderabad, and the rest shall be allotted in direction of basic company functions.
Founded in 1995, Premier Energies is an built-in photo voltaic cell and module producer with a 2GW capability for cells and three.36GW for modules.
Additionally, the corporate gives EPC options, O&M (operations & upkeep) providers, and operates as an impartial energy producer (IPO).
It has 5 manufacturing services, together with in Hyderabad and Telangana.
As of FY23, its income from operations stood at Rs 1,428 crore, and Rs 2,017 crore for the 9 months ended December 31, 2023.
The firm had an order ebook of over Rs 5,300 crore as of March this yr.
Kotak Mahindra Capital Company Ltd, JP Morgan India Private Ltd and ICICI Securities Ltd are the book-running lead managers to the problem. The fairness shares are proposed to be listed on BSE and NSE.
