Premier Energies Ltd IPO

Premier Energies Limited was originally incorporated as a private limited company with the name Premier Solar Systems Private Limited under the provisions of the Companies Act, 1956, at Hyderabad, India, pursuant to a certificate of incorporation dated April 3, 1995, issued by the Registrar of Companies, Andhra Pradesh. Subsequently, pursuant to a Board resolution dated May 6, 2019 and a resolution passed at an extraordinary general meeting dated July 25, 2019, the name of the Company was changed to Premier Energies Private Limited and a fresh certificate of incorporation dated August 6, 2019 was issued by the Registrar of Companies, Telangana at Hyderabad (RoC). Upon the conversion of the Company into a public limited company, pursuant to a Board resolution dated September 3, 2019 and a Shareholders' resolution dated September 4, 2019, the name of the Company was changed to Premier Energies Limited and a fresh certificate of incorporation dated September 25, 2019 was issued by the RoC.

Premier Energies Limited operates in the solar manufacturing industry in India which is on an accelerated growth trajectory owing to supply side measures such as the domestic content requirement, basic customs duty and approved list of models and manufacturers. India's module manufacturing capacity reached approximately 72 GW in FY2024 and while its current solar cell manufacturing capacity stands at 8.1 GW, it is also poised for future exponential growth. India's strong commitment to renewable energy, ambitious targets and favorable regulatory framework have attracted substantial investments in solar power projects, positioning India as a key player in the global solar market.

Premier Energies Limited is an integrated solar cell and module manufacturer with an annual installed capacity of 2 Gigawatts (GW) for cells and 4.13 GW for modules as of June 30, 2024. In addition, to manufacturing solar cells and modules, the company provides engineering, procurement and construction (EPC) solutions, operations and maintenance (O&M) services and also operate as an independent power producer (IPP). As of the date of this Red Herring Prospectus, the company has five manufacturing facilities which are all located in Hyderabad, Telangana, India, and it conducts its operations through eight subsidiaries in India and overseas.