Premier Energies shares gained nearly 3% in early trade on May 26 after several institutional investors, including Quant Mutual Fund and Nomura India, picked up stake in the company through a large block deal worth around ₹2,291 crore.
The stock was trading higher at ₹1,013 on the NSE at the time of publishing this article.
According to block deal data, the promoter group sold around 2.4 crore shares, representing nearly 5.3% equity stake, at an average price of ₹955 per share.
Among the key buyers, Quant Mutual Fund purchased around 40.84 lakh shares worth nearly ₹390 crore, while Nomura India acquired 25 lakh shares valued at approximately ₹239 crore. Smallcap World Fund and Edelweiss Mutual Fund also bought 24.4 lakh shares and 20.9 lakh shares respectively.
Other institutional buyers in the transaction included The Beekeeper Capital, Canara Robeco Mutual Fund and Tata Mutual Fund, among others.
The block deal comes shortly after Premier Energies reported strong operational performance and continues to attract investor interest amid optimism around India’s renewable energy and solar manufacturing space.
As reported earlier, the company has been benefiting from robust demand trends in the solar segment, while policy support for domestic manufacturing and clean energy transition remains a key long-term growth trigger for the sector.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice.