Premier Energies Limited has informed the exchanges that its board of directors approved the incorporation of a wholly owned subsidiary at a board meeting held on July 2, 2026. The decision was disclosed under Regulation 30 of the SEBI Listing Regulations, 2015, and pertains to Premier Energies' expansion into energy storage and battery technology.
The wholly owned subsidiary will carry on business activities in battery energy storage systems, battery cells, battery materials, and related electronics, hardware, and software segments. The subsidiary's name will be determined upon approval from the Central Registration Centre, Ministry of Corporate Affairs, Government of India.
The proposed subsidiary will have an authorised share capital of Rs 0.10 crore, comprising 1,00,000 equity shares of face value Rs 10 each. Premier Energies will subscribe to 50,000 equity shares at Rs 10 per share, aggregating Rs 0.05 crore, in the wholly owned subsidiary.
The incorporation broadens Premier Energies' presence in the renewable energy value chain by adding battery storage and cell manufacturing capabilities. Battery energy storage systems are a key component for grid stability and renewable energy integration in India.
The board meeting commenced at 4:32 PM and concluded at 4:55 PM on July 2, 2026. Additional disclosures required under the SEBI Master Circular will be provided in due course. The filing has been submitted to BSE Limited and the National Stock Exchange of India, where Premier Energies is listed under the trading symbol PREMIERENE.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.