3 days ago
Premier Energies Block Deal: 2.5 crore shares worth Rs 2,628 crore change hands at Rs 1,051.50 apiece
By Aditya Bhagchandani Published on June 10, 2025, 08:57 IST
Shares of Premier Energies Ltd. will be in focus on Tuesday, June 10, following a massive block deal. South Asia Growth Fund II Holdings has reportedly offloaded 2.5 crore shares,, in a deal valued at approximately Rs 2,628 crore. The transaction was executed at a price of Rs 1,051.50 per share, which is about a 1% discount to the previous close.
As per exchange data, the block deal took place during Session 1, with all 2.5 crore shares changing hands at the fixed price, reflecting investor interest despite the bearish stance from analysts.
Following the deal, South Asia Growth Fund will be under a 150-day lock-in, restricting further sales of Premier Energies shares during this period. As of March 2025, the fund held 11.1% in the company.
Premier Energies' promoter group owns 64.3% of the company, while FIIs hold 3.0%, DIIs 8.7%, and public shareholders account for 23.4%.
Despite positive growth prospects, Kotak Institutional Equities has maintained a 'sell' rating on the stock due to valuation concerns. The brokerage forecasts a 44% CAGR for the company from FY24 to FY30, but warned that the stock's high multiples outweigh the growth potential.
India's solar sector, however, remains promising. The country aims to expand its renewable capacity to 500 GW by 2030, with solar expected to grow from 82 GW in FY24 to 214 GW by FY30, driven by utility-scale installations, rooftop solar, pumps, and industrial captive use.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
