Shares of newly listed Premier Energies Ltd. gained as much as 15% on Thursday after the company said that it has won an order for 8,085 solar water pumping systems across various districts of Uttar Pradesh.

The order, from the Uttar Pradesh Department of Agriculture, involves the supply, installation, and commissioning with a five-year comprehensive warranty, the company said in an exchange filing.

This order, valued at ₹215 crore, is scheduled for completion by March 2025.

Premier Energies said that the order has been awarded under Component-B of the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan) scheme, which is aimed at ensuring energy security for Indian farmers.

The scheme also is in-line with India’s commitment to increase the share of installed capacity of electric power from non-fossil-fuel sources to 40% by 2030.

Premier Energies listed on the bourses earlier this week at a premium of 120% to its IPO price of ₹450.

The stock was under the spotlight as it had sold a portion of its shares to a clutch of investors and funds just days before the IPO opened for subscription.

In an interaction with CNBC-TV18, Premier Energies Managing Director Chiranjeev Singh Saluja said that this was done to meet the excess investor demand and is within the regulations.

Shares of Premier Energies are currently trading with gains of 16% to ₹977.40.