The board of Premier Energies approved the incorporation of a wholly owned Singapore subsidiary and an intra-group shareholding reorganization on September 1, 2026. The moves aim to consolidate the company’s battery energy storage operations and expand its international footprint in the clean energy sector.

Singapore Subsidiary Incorporation

The company approved the creation of PE Horizon Pte. Ltd. in Singapore to engage in trading, management consulting, and ancillary activities within the clean energy industry, including related capital goods. The board authorized an Overseas Direct Investment of up to SGD 1,00,000 in one or more tranches. The initial investment will be SGD 10,000, comprising 10,000 ordinary shares of SGD 1 each, representing 100% of the proposed subsidiary’s share capital.

Intra-Group Restructuring

The board also approved a share swap to transfer the company’s entire stake in Premier Energies Storage Solutions Private Limited (PESSPL) to Premier Battery Technologies Private Limited (PBTPL). PBTPL, incorporated on July 15, 2026, is a wholly owned subsidiary focused on battery cells, materials, and energy storage systems. Following the transaction, PESSPL will become a step-down subsidiary of PBTPL.

The consideration for the transfer is entirely non-cash, discharged through the allotment of 8,50,579 equity shares of face value ₹10 each by PBTPL to the listed entity. The aggregate cost works out to ₹85,05,790, based on the net asset value of PESSPL as on August 31, 2026. The company will retain 100% ownership of PBTPL before and after the transaction, with no change in ultimate beneficial control.

The transaction was approved by the audit committee as a related party transaction under Regulation 23 of the SEBI LODR Regulations, based on fair value determined by a registered valuer. No promoter group other than the company holds an interest in PBTPL.

Premier Energies has scheduled its 31st Annual General Meeting for Monday, September 21, 2026, to approve a significant capital raise of up to ₹5,000 crore. The company will also seek shareholder approval for the re-appointment of its key promoters as directors and the confirmation of a final dividend of ₹1.00 per share for FY26.

The meeting will be conducted through Video Conferencing or Other Audio Visual Means (VC/OAVM) in compliance with Ministry of Corporate Affairs circulars. Shareholders can participate and vote electronically via the National Securities Depository Limited (NSDL) platform during the remote e-voting period from September 18 to September 20, 2026.

Capital Raising Proposal

The most material item on the agenda is the proposed issuance of equity shares or other eligible convertible securities. The Board seeks special resolution approval to raise an aggregate amount not exceeding ₹5,000 crore in one or more tranches.

The funds are intended to support organic expansion, inorganic growth initiatives, capital expenditure, working capital requirements, and general corporate purposes. The issuance may take the form of Qualified Institutions Placements (QIP), private placements, or other permissible modes under applicable laws. The Board retains the authority to determine the specific terms, pricing, and timing of the issue based on market conditions.

Director Re-appointments

The AGM will also address the re-appointment of the company's leadership team for a five-year term commencing December 19, 2026:

• Mr. Chiranjeev Singh Saluja is proposed for re-appointment as Managing Director. His fixed gross salary, allowances, and perquisites are set at ₹3.50 crore per annum, with variable pay of up to 35%.
• Mr. Surenderpal Singh Saluja is proposed for re-appointment as Chairman and Whole-time Director. His fixed compensation package stands at ₹1.50 crore per annum, also with variable pay of up to 35%.
• Mr. Sudhir Moola, who retires by rotation, is up for re-appointment as a Director.

Both Mr. Chiranjeev Singh Saluja and Mr. Surenderpal Singh Saluja are promoters of the company. Their re-appointments require shareholder approval as related-party transactions under SEBI Listing Regulations.

Auditor and Dividend Approvals

The shareholders will be asked to re-appoint M/s. Deloitte Haskins & Sells as statutory auditors for a second term of five years, until the conclusion of the 36th AGM in 2031. Additionally, the ratification of remuneration for Cost Auditors, M/s. S.S. Zanwar & Associates, amounting to ₹3 lakhs plus taxes for FY27, will be considered.

Finally, the meeting will confirm the final dividend for FY26, aggregating to ₹1.00 per equity share. This comprises a first interim dividend of ₹0.25 and a second interim dividend of ₹0.75, both of which have already been paid.

What the Numbers Show

The proposed capital raise of ₹5,000 crore represents a substantial infusion relative to the company's existing capital structure. This enabling ceiling provides management with significant flexibility to pursue large-scale expansion projects or acquisitions without being constrained by immediate market windows, signaling aggressive growth ambitions for the solar manufacturing sector.