Premier Energies Rallies as 5.5% Stake Changes Hands in ₹2,629 Crore Block Deal

Premier Energies Ltd shares gained over 3% in Tuesday’s trade after a large block deal saw 5.54% of the company’s equity change hands in the pre-open session. Around 2.5 crore shares were exchanged in a transaction valued at ₹2,629 crore, with the deal priced at approximately ₹1,052 per share, nearly matching the floor price of ₹1,051.50.

According to exchange data and market sources, South Asia Growth Fund II Holdings is believed to be the seller in this transaction. The fund held an 11.1% stake in Premier Energies as of March 2025 and will now be under a 150-day lock-in period, during which it cannot offload additional shares.

The company’s shareholding pattern remains promoter-heavy, with 64.3% held by promoters, while FIIs own 3%, DIIs 8.7%, and public shareholders the remaining 23.4%.

Premier Energies, a major player in solar cells and module manufacturing, has remained under market watch since its September 2024 listing. The stock made its market debut at ₹990 on the NSE and ₹991 on the BSE - over 120% above its IPO issue price of ₹450.

While the company’s financials have impressed, with significant year-on-year growth in Q4 FY25, some analysts remain cautious. Kotak Institutional Equities has maintained a ‘sell’ rating, flagging concerns around elevated valuations despite the company’s ambitious growth trajectory, including a projected 44% CAGR through FY30.

Recent financial results showed strong year-on-year performance, including a 167% jump in net profit and a nearly 44% rise in revenue. However, sequential trends revealed a marginal slowdown in topline growth, pointing to potential near-term challenges despite the long-term structural opportunity in India’s solar energy sector.

At 3.30 pm, Premier Energies shares were last seen trading at ₹1,082.80 on the NSE, reflecting a gain of ~2% from the previous close.

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