Latest news with #PremierEnergies
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Business Standard
5 hours ago
- Business
- Business Standard
GEF Capital Partners sells 5.55% stake in Premier Energies for ₹2,629 cr
GEF Capital Partners on Tuesday divested a 5.55 per cent stake in Premier Energies for Rs 2,629 crore through open market transactions. Premier Energies Ltd (PEL) is among the largest integrated manufacturers of solar photovoltaic cells and modules (in terms of installed capacity) and specialty solar photovoltaic products in India. US-based GEF Capital Partners through its affiliate South Asia Growth Fund II Holdings LLC sold a total of 2.5 crore equity shares, representing a 5.55 per cent stake in Premier Energies Ltd, as per the bulk deal data available with the NSE. The transaction, valued at around Rs 2,629 crore, was executed at an average price of Rs 1,051.60 per share. Following the stake sale, the shareholding of South Asia Growth Fund II Holdings in Premier Energies declined to 5.55 per cent from 11.10 per cent. Meanwhile, Quant Mutual Fund bought 43.55 lakh shares, amounting to a 0.97 per cent stake in Premier Energies. Also, Premji Invest's arm PI Opportunities AIF V purchased 33.28 lakh scrips or 0.74 per cent holding in Hyderabad-based Premier Energies. The shares were acquired at the same price, taking the combined deal value to Rs 808.02 crore. Details of the other buyers of Premier Energies' shares could not be ascertained on the National Stock Exchange (NSE). Shares of Premier Energies rose 1.94 per cent to close at Rs 1,082.80 apiece on the NSE. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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Business Standard
16 hours ago
- Business
- Business Standard
Premier Energies climbs 5% after 0.12 million shares change hands on BSE
Premier Energies share price jumped 4.7 per cent in trade on Tuesday, June 10, 2025, logging a day's high at ₹1,115 per share after 0.12 million shares changed hands on BSE. On NSE, 1.78 million shares were traded, around 9:36 AM. At the same time, Premier Energies shares were trading 3.03 per cent higher at ₹1,097 per share on the BSE. In comparison, the BSE Sensex was down 0.03 per cent at 82,422.58. The company's market capitalisation stood at ₹49,585.18 crore. Its 52-week high was at ₹1,387.1 per share and 52-week low was at ₹755.55 per share. Premier Energies block deal reports Reports suggested that South Asia Growth Fund II Holdings was likely to sell 25 million equity shares (representing 5.5 per cent of the paid-up equity) of the company via block deals. The floor price for the sale was expected at ₹1,051.50 per share. Premier Energies shares were listed on the bourses on September 3, 2024. Shares of solar cell maker made a stellar debut by listing at ₹991 on the BSE, marking a whopping 120.22 per cent premium over the upper end of its issue price of ₹450. On the NSE, Premier Energies shares opened at ₹990, reflecting a 120 per cent premium. From its listing price, the scrip has gained nearly 7 per cent and from the issue price the stock has rallied 137 per cent. About Premier Energies Premier Energies is an integrated manufacturer of solar PV cells and solar modules, including custom-made modules for specific applications. The company also provides end-to-end solar services for ground-mounted, rooftop, floating, canal bank, canal top, and hybrid power generation systems, as well as operations and maintenance (O&M) services for executed projects. Additionally, Premier Energies produces customised products like bespoke solar tiles and operates as an independent power producer, generating 2 MW of solar power from its plant in Jharkhand. As of March 31, 2024, the company boasts an annual production capacity of 2 GW for solar cells and 3.36 GW for solar modules. Additionally, another Topcon Cell line and module line, covering a combined land area of 75 acres, are currently under development. These new facilities are projected to have Cell and Module Facility.
Time of India
17 hours ago
- Business
- Time of India
Premier Energies shares in focus as South Asia Growth Fund II plans to sell 5.5% stake via block deal
Premier Energies shares will be in focus on Tuesday after reports that South Asia Growth Fund II Holdings is likely to offload up to 2.5 crore shares, representing about 5.5% of the solar cell and module maker's equity, through block deals, sources told CNBC-TV18. The floor price for the sale is set at Rs 1,051.50 per share, which is up to a 1% discount to the current market price. The deal is expected to take place during the pre-open block window. A 150-day lock-in period has been imposed on any further share sales by the fund. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like When the Camera Clicked at the Worst Possible Time Read More Undo As per the latest shareholding data, South Asia Growth Fund holds an 11.1% stake in Premier Energies. Also Read: KEI Industries, DCB Bank among 10 small-cap stocks analysts expect to gain up to 75% Premier Energies Q4 Results In Q4FY25, Premier Energies reported a 43.9% year-on-year (YoY) jump in revenue to Rs 1,620.8 crore from Rs 1,126.5 crore. Net profit surged 167% YoY to Rs 277.8 crore, while EBITDA rose 187% to Rs 528.6 crore. The EBITDA margin expanded to 32.6% from 16.4% a year ago. Live Events For the full year FY25, revenue more than doubled to Rs 6,518.7 crore, up 107% from Rs 3,143.7 crore in FY24. Net profit soared 307% to Rs 937 crore, and EBITDA margin widened to 28.8% from 15.9% in the previous year. Also Read: Dixon Technologies, LIC Housing Finance among 10 mid-cap stocks analysts expect to gain up to 40% Order Book The company's order book stands at 5,303 megawatts (MW), valued at Rs 8,445.6 crore, with 73% of the orders in modules and the remainder in cells. Module capacity utilisation stood at 75%, while cell utilisation was at 95%. Shares of Premier Energies closed 1% higher at Rs 1,064.7 on the BSE in the previous session, outperforming the Sensex, which gained 0.31%. The stock is up 13% in the last three months but remains down 20% year-to-date. Also Read: Vishal Mega Mart, SBI Card among 8 large & midcap stocks that hit 52-week highs on Monday ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times )
Business Upturn
a day ago
- Business
- Business Upturn
Premier Energies block deal: South Asia Growth Fund II to sell 5.5 percent stake worth Rs 2,628 crore
Premier Energies is set to witness a large block deal soon, with private equity investor South Asia Growth Fund II planning to offload 2.5 crore shares, representing about 5.5 percent equity in the company, according to market sources. The floor price for the block deal is set at Rs 1,051 per share, which is at a 1 percent discount to the current market price. The total deal size is estimated at Rs 2,628 crore. Advertisement Sources further indicated that there will be a lock-in period of 150 days post the block deal. IIFL is acting as the sole broker for this transaction. Premier Energies Block Deal Sources to me South Asia Growth Fund II to sell 2.5 crore shares, 5.5% eq Floor price at Rs 1051, a 1% discount to CMP (to happen in window) Block Deal size: Rs 2,628 cr Lock-in of 150 days post block deal IIFL sole broker#StockMarket @CNBCTV18Live — Ruchit Purohit (@Journoruchit) June 9, 2025 The deal is expected to be executed via the block window on the exchange. Disclaimer: This article is based on market information and inputs from public domain sources. It does not constitute investment advice. Readers are advised to consult with their financial advisor before taking any investment decisions.
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Business Standard
25-05-2025
- Business
- Business Standard
With Jupiter in its orbit, Andhra Pradesh emerges as India's solar hub
Andhra Pradesh is emerging as a key hub for solar module and cell manufacturing in India, challenging established leaders like Gujarat, Rajasthan, and Tamil Nadu. Since the Nara Chandrababu Naidu government assumed office last year, the state has witnessed a surge in investments in this sector. The latest entrant this month is Kolkata-based Jupiter International, which plans to set up a 4.8 Gw (gigawatt) solar photovoltaic (PV) cell and 1.5 Gw module manufacturing facility at Rambili in Anakapalli district, with an investment of ₹2,700 crore. The investment is being made through its subsidiary, Jupiter Renewables. Additionally, the state is trying to rope in major players such as Waaree Energies, Tata Power Solar, and Vikram Solar, sources said. Other recent significant investments include a ₹69,000 crore project by Indosol Solar and Premier Energies. In March this year Premier Energies, India's second-largest fully integrated solar cell and module manufacturer, announced plans to shift its cell manufacturing unit from Telangana to Naidupeta Industrial Park in Nellore district. State government officials said that Premier Energies, in the first phase, will come up with a 5 Gw ingot and solar wafer manufacturing unit with an investment of ₹1,742 crore, followed by a second phase of 8 Gw solar cell manufacturing with ₹4,200 crore in investments. 'The latest entrant is Jupiter Renewables, which is establishing a 4.8 Gw solar PV cell and 1.5 Gw solar module manufacturing facility at Rambili. This will be done in two phases, with ₹1,504 crore in Phase 1 and ₹1,196 crore in Phase 2,' a government source said. The company did not respond to questions from Business Standard. Both phases are expected to be completed by July 2026. Industry sources indicate that tailor-made incentives and other facilitations under the AP Industrial Development Policy 2024–29 are helping the state attract solar manufacturing players. Jupiter submitted the proposal in March this year, and last Friday, the State Investment Promotion Board approved the project, extending a special package. The state has already cleared decks for allocating 142 acres at a concessional rate of ₹50 lakh per acre to Jupiter, sources said. They also indicate the company had sought tailor-made incentives of up to 78.48 per cent of total fixed capital investment on a project outlay of ₹2,700 crore, which will be disbursed over 10 years. The project is expected to create direct employment for over 2,000 people.
