Premier Energies, a leading solar panel manufacturer, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to set up a new manufacturing facility in Hyderabad. The company aims to raise Rs 1500 crore through an Initial Public Offering (IPO) to fund this project. The proposed facility will produce solar photovoltaic (PV) modules with an annual capacity of 750 MW. Premier Energies has selected Hyderabad as the location for this facility due to its conducive infrastructure and existing solar ecosystem. This expansion will significantly contribute to India’s renewable energy sector and help the country achieve its clean energy goals. The IPO will enable Premier Energies to raise the necessary funds for this project and further strengthen its position in the solar industry.