Shares of Premier Energy jumped by almost 4% after getting orders worth Rs 1,087 crore on NSE.

Delhi Delhi. Shares of Premier Energy have risen by about 4 percent on the NSE (National Stock Exchange). According to the company's exchange filing, two leading independent power producers (IPPs) and one other customer have placed multiple orders totaling Rs 1,087 crore with Premier Energies Global Environment, Premier Energies International and Premier Energies Photovoltaic.

Shares of Premier Energy touched the day's high of Rs 1,137.00 per share on NSE (National Stock Exchange) after ringing the opening bell at Rs 1,129.00 per share on Indian exchanges. Shares of Premier Energy were trading around Rs 1,122.95 per share, up 2.47 per cent on Indian stock exchanges, which is equivalent to Rs 27.05 per share on the NSE (National Stock Exchange).

These orders include Rs 964 crore for solar modules and Rs 123 crore for solar cells. The supply of these modules is scheduled to begin in January 2025. On September 3, Premier Energies shares made a successful debut on the stock exchanges. The company's shares were listed at Rs 991 on the BSE, 120.22 per cent higher than its issue price of Rs 450. Shares of Premier Energies opened at Rs 990 on NSE, indicating a premium of 120 per cent.

According to the company's RHP, Rs 968.6 crore from the fresh issue will be used to invest in Premier Energies Global Environments Pvt Ltd, a subsidiary, to build 4 GW solar PV Topcon cells and 4 GW solar PV Topcon modules in Hyderabad, Telangana. The construction of the manufacturing facility can be partially financed. The remaining funds will be used for general corporate purposes.