Premier Energy’s bulk deal: The promoters paid Rs. 2,289 crore stake sold; Among the top buyers are Quant, Nomura

Members of the promoter family in Premier Energy have invested in a large block deal of around Rs. 2,289 crore worth of shares were sold, with multiple institutional investors buying stakes in the solar equipment maker. According to NSE bulk deal data, the promoter group entities together bought 2.39 crore shares of the company at Rs. 955 was sold.

The combined transaction is valued at approximately Rs. 2,289 crores. Among the sellers, Surendrapal Singh Saluja sold 1.56 crore shares, while Manjit Kaur Saluja sold 50.46 lakh shares. Charandeep Singh Saluja sold 13.08 lakh shares and Jasveen Kaur Saluja sold 19.37 lakh shares.

On the buying side, Smallcap World Fund Inc bought 24.44 lakh shares, while Quant Mutual Fund bought 40.83 lakh shares. Nomura India Investment Fund’s mother fund acquired another 25 lakh shares. Other investors buying stakes include Kotak Mahindra Life, SBI Life, Kotak MF.

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

Premier Energy also saw strong earnings momentum due to rapid capacity expansion in modules and cells.

The company recently reported 38% year-on-year growth in Q4 of FY26 with revenue at Rs. 2,230 crore, while profit after tax rose 64% to Rs. 450 crores. EBITDA grew 28% YoY during the quarter to Rs. 670 crore, though EBITDA margin declined by 300 basis points to 30%.

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

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

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

The brokerage said Premier Energy in solar cells, ingot-wafer manufacturing, batteries and inverters at Rs. 5,100 crore is undertaking an aggressive FY27 capex.

Elara Securities maintained its “Accumulate” rating on the stock and set a target price of Rs. 886 to Rs. 1,052 did.

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

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

The latest promoter stake sale has come amid strong investor interest in renewable energy and domestic production-linked themes over the past year, amid policy incentives, production-linked schemes and growing domestic demand for solar equipment.