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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