Premier Energies block deal: 5.54% stake worth ₹2,629 crore changes hands; stock up 3%

Solar module manufacturer Premier Energies shares worth ₹2,629 crore changed hands in multiple block deals on Tuesday, June 10, that took place in the pre-open window.

According to data, as many as 2.5 crore shares, or 5.54% of the company's outstanding equity, changed hands via block deal.

Following the block deal, shares of Premier Energies were trading at ₹1,095.10 apiece on the National Stock Exchange, jumping 3.1%.

The floor price of the block deal is set at ₹1,501 per share, which is a discount of 1% from Monday’s closing price. This takes the total transaction value to ₹2,628 crore.

The report further stated that South Asia Growth Fund, the likely seller in the transaction, will also have a 150-day lock-in period for further sale of shares in the company.

Shares of solar cell and module manufacturer Premier Energies got listed on September 3, 2024, with a sharp premium of over 120% against the issue price of ₹450.

The stock made its debut at ₹991, surging 120.22% from the issue price on the BSE. It later soared 120.76% to ₹993.45. On the NSE, shares of the firm were listed at ₹990, a jump of 120%.

Premier Energies reported a robust set of earnings on a year-on-year (YoY) basis for the quarter ended March 31, 2025 (Q4 FY25). However, on a sequential basis, a few metrics disappointed investors.

The company's consolidated profit after tax (PAT), or net profit, jumped 167.23% year-on-year (YoY) to ₹278 crore during the March 2025 quarter against ₹104 crore logged in the year-ago period.

On a sequential basis, the figure grew 8.86% from the ₹255 crore registered in the December 2024 quarter.

Revenue from operations came in at ₹1,621 crore, up 43.8% from ₹1,126.58 crore logged in the year-ago period. On a QoQ basis, the figure slipped 5.40%.

Total income increased by 47.58% YoY to ₹1,680 crore. On a QoQ basis, total income of the company fell 4%.

The company's performance on the operational front was stellar. Its EBITDA, or earnings before interest, taxes, depreciation, and amortisation, zoomed 199.30% YoY to ₹588 crore from ₹196.46 crore logged in the corresponding quarter of the previous fiscal year.