Premier Energies to establish Singapore subsidiary & reorganize shareholding

Premier Energies Limited announced today, September 01, 2026, that its Board of Directors has approved the incorporation of a wholly-owned subsidiary in Singapore, named ‘PE Horizon Pte. Ltd.’. This new entity will focus on trading, management consulting, and related activities within the clean energy industry, including capital goods. The company plans an Overseas Direct Investment of up to SGD 1,00,000 (approximately ₹61.8 Lakhs), with an initial investment of SGD 10,000 (approximately ₹6.18 Lakhs) for 10,000 ordinary shares.

Additionally, the Board approved an intra-group shareholding reorganization. Premier Energies will transfer its entire shareholding in Premier Energies Storage Solutions Private Limited (PESSPL) to another wholly-owned subsidiary, Premier Battery Technologies Private Limited (PBTPL). This transfer will occur via a share swap, with PBTPL issuing equity shares to Premier Energies as consideration. Consequently, PESSPL will become a step-down subsidiary of Premier Energies, and a wholly-owned subsidiary of PBTPL. This reorganization aims to consolidate the company's battery and energy storage businesses under a single sub-holding structure, simplifying the corporate holding structure. The transaction is expected to be completed in approximately 60 days from the disclosure date. The consideration for the share swap is non-cash, involving the transfer of PESSPL's Net Asset Value as of August 31, 2026, valued at ₹85,05,790, in exchange for 8,50,579 equity shares of PBTPL. Premier Energies will maintain 100% ownership of PBTPL throughout this process. The board meeting commenced at 04:52 P.M. and concluded at 05:16 P.M.