Shares of Premier Energies Ltd, a leading solar energy company, rose in early trade on Monday, June 10, after a large block deal took place involving over \u20b92,600 crore worth of shares.<\/p>\n\n\n\n
According to reports, 2.5 crore shares<\/strong>, equal to 5.54 percent of the company\u2019s total equity<\/strong>, were traded at \u20b91,052 per share<\/strong> in a block deal valued at \u20b92,629 crore<\/strong>. The deal price came at a 1 percent discount<\/strong> to the stock\u2019s previous closing price of \u20b91,063.5.<\/p>\n\n\n\n Sources told CNBC-TV18 that South Asia Growth Fund II Holdings<\/strong> was the likely seller in this block deal. The fund is expected to offload its 2.5 crore shares<\/strong>, which equals 5.5 percent stake<\/strong> in Premier Energies. After this sale, the fund will face a 150-day lock-in period<\/strong>, meaning it cannot sell more shares of Premier Energies during this time.<\/p>\n\n\n\n As per the March 2025 shareholding data<\/strong>, South Asia Growth Fund II held an 11.1 percent stake<\/strong> in Premier Energies before the deal.<\/p>\n\n\n\n The promoters hold 64.3%<\/strong> of the company. FIIs<\/strong> hold 3%<\/strong>, DIIs<\/strong> hold 8.7%<\/strong> and the public holds 23.4%<\/strong> of the company\u2019s equity.<\/p>\n\n\n\n Despite the growth potential, Kotak Institutional Equities has given a \u2018sell\u2019 to Premier Energies as the stock is overvalued. They have a 44% CAGR for Premier Energies from FY24 to FY30 but the high price is a concern for new investors.<\/p>\n\n\n\n But the future of India\u2019s solar energy looks good. Kotak estimates 18% CAGR in utility scale solar by FY30. India is aiming for 500 GW of renewable energy by 2030 out of which solar power is expected to go up from 82 GW in FY24 to 214 GW by FY30. This growth will come from large solar farms, rooftop solar, solar pumps and use by factories and industries.<\/p>\n\n\n\n Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com<\/a> Shares of Premier Energies Ltd, a leading solar energy company, rose in early trade on Monday, June 10, after a large block deal took place involving over \u20b92,600 crore worth of shares. According to reports, 2.5 crore shares, equal to 5.54 percent of the company\u2019s total equity, were traded at \u20b91,052 per share in a […]<\/p>\n","protected":false},"author":1,"featured_media":7052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[1218],"class_list":["post-7051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-premier-energies-block-deal"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/7051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=7051"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/7051\/revisions"}],"predecessor-version":[{"id":7053,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/7051\/revisions\/7053"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/7052"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=7051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=7051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=7051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Source: Moneycontrol<\/a><\/sub><\/sup><\/p>\n","protected":false},"excerpt":{"rendered":"