Premier Energies bulk deal: Promoters sell stake worth Rs 2,289 crore; Quant, Nomura among top buyers

Synopsis

Premier Energies' promoters divested shares worth nearly Rs 2,289 crore to institutional investors, including Smallcap World Fund and Quant Mutual Fund. This move coincides with heightened interest in India's solar manufacturing sector, driven by policy support and robust earnings. The company is aggressively expanding its module and cell capacities, with analysts maintaining a positive outlook.

Members of the promoter family in Premier Energies sold shares worth nearly Rs 2,289 crore in a large block deal, with multiple institutional investors picking up stake in the solar equipment maker. According to NSE bulk deal data, promoter group entities together sold 2.39 crore shares in the company at Rs 955 apiece.

The combined transaction value stood at around Rs 2,289 crore. Among the sellers, Surenderpal Singh Saluja sold 1.56 crore shares, while Manjeet Kaur Saluja offloaded 50.46 lakh shares. Charandeep Singh Saluja sold 13.08 lakh shares and Jasveen Kaur Saluja divested 19.37 lakh shares.

On the buy side, Smallcap World Fund Inc purchased 24.44 lakh shares, while Quant Mutual Fund bought 40.83 lakh shares. Nomura India Investment Fund Mother Fund acquired another 25 lakh shares. Other investors who bought the stake include Kotak Mahindra Life, SBI Life, Kotak MF among others

The entry of large institutional investors into the counter comes at a time when investor interest in renewable energy and domestic solar manufacturing companies remains elevated amid India’s clean energy push and import substitution efforts.

Premier Energies has also seen strong earnings momentum driven by rapid capacity expansion across modules and cells.

The company recently reported a 38% year-on-year increase in Q4 FY26 revenue to Rs 2,230 crore, while profit after tax rose 64% to Rs 450 crore. EBITDA during the quarter increased 28% year-on-year to Rs 670 crore, though EBITDA margin contracted 300 basis points to 30%.

The company’s module manufacturing capacity has now reached 11.1 GW, while cell capacity currently stands at 3.6 GW and is expected to expand to 10.6 GW through ongoing projects scheduled for commissioning later this year.

Premier Energies recently commissioned its 5.6 GW Sitarampur module facility in Telangana and expects full ramp-up over the next few months.

According to Elara Securities, the company is aggressively expanding integrated manufacturing capacity, with a 4.8 GW cell expansion targeted for June 2026 and another 2.2 GW expansion planned for September 2026.

The brokerage said Premier Energies is undertaking aggressive FY27 capex of Rs 5,100 crore across solar cells, ingot-wafer manufacturing, batteries and inverters.

Elara Securities maintained its “Accumulate” rating on the stock and raised its target price to Rs 1,052 from Rs 886.

The brokerage said Premier Energies is “set to lead by FY28” among India’s solar equipment manufacturers, helped by backward integration and large-scale capacity additions.

Apart from solar manufacturing, the company has also been diversifying into transformers and power equipment through Transcom, where transformer capacity is expected to rise nearly sevenfold to 16.75 GVA by July 2026 with a focus on high-margin HV and EHV segments.

The latest promoter stake sale comes amid strong investor interest in renewable energy and domestic manufacturing-linked themes over the past year, supported by policy incentives, production-linked schemes and increasing domestic demand for solar equipment.

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