Premier Energies block deal: GEF Capital Partners sells 5.55% stake for ₹2,629 crore; check buyers' names

US-based GEF Capital Partners, through its affiliate South Asia Growth Fund II Holdings LLC, sold a total of 2.5 crore equity shares, representing a 5.55% stake in Premier Energies Ltd, as per the bulk deal data available with the NSE.

Premier Energies Ltd (PEL) is among the largest integrated manufacturers of solar photovoltaic cells and modules (in terms of installed capacity) and specialty solar photovoltaic products in India.

The transaction, valued at around ₹2,629 crore, was executed at an average price of ₹1,051.60 per share.

Following the stake sale, the shareholding of South Asia Growth Fund II Holdings in Premier Energies has declined to 5.55% from 11.10% earlier.

Meanwhile, Quant Mutual Fund bought 43.55 lakh shares, amounting to a 0.97% stake in Premier Energies.

Additionally, Premji Invest's arm PI Opportunities AIF V purchased 33.28 lakh shares, or 0.74% holding, in Hyderabad-based Premier Energies.

The shares were acquired at the same price, taking the combined deal value to ₹808.02 crore.

Details of the other buyers of Premier Energies' shares could not be ascertained on the National Stock Exchange (NSE).

Premier Energies Q4 FY25 Results

The company 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 investor presentation shows that its 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 ₹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.

EBITDA margin for the quarter under review came in at 34.99% against 17.26% in the year-ago quarter.

Premier Energies IPO and listing details

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, up 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%.

The initial public offering (IPO) of Premier Energies was overall subscribed 74.09 times.

The ₹2,830 crore initial share sale had a fresh issue of up to ₹1,291.4 crore and an offer-for-sale of up to 3,42,00,000 equity shares.

The price range for the offer was ₹427-₹450 per share.