Latest news with #SouthAsiaGrowthFundIIHoldings
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Business Standard
4 days 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.
Business Upturn
4 days ago
- Business
- Business Upturn
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.
