Shares of Premier Energies Ltd jumped 2.9% to ₹1,093.00 on Tuesday after a significant block deal saw South Asia Growth Fund II Holdings offload 2.5 crore shares, representing 5.5% of the company’s equity, in a transaction worth ₹2,628 crore. The shares were sold at ₹1,051.50 apiece—nearly a 1% discount to the previous session’s closing price.
According to exchange data, the entire block was executed during Session 1, with robust investor demand absorbing the full offering at the fixed price point. The fund will now face a 150-day lock-in, prohibiting further sales of Premier Energies shares during this period. As of March 2025, South Asia Growth Fund held 11.1% in the company.
Premier Energies’ ownership structure remains concentrated, with promoters holding 64.3%, FIIs at 3.0%, DIIs at 8.7%, and public shareholders at 23.4%.
Despite optimistic growth projections, Kotak Institutional Equities has reiterated a ‘sell’ rating, citing valuation concerns. The firm forecasts a 44% CAGR for Premier Energies from FY24 to FY30 but believes the current valuation may already reflect this potential.
India’s solar energy market remains a key focus area. The nation is targeting 500 GW of renewable energy by 2030, with solar capacity expected to surge from 82 GW in FY24 to 214 GW by FY30, driven by utility-scale projects, rooftop solar, solar pumps, and captive usage.
