New Delhi: Global financial institutions, including Nomura Asset Management and Capital Group, have acquired a 5.3 per cent stake in renewable energy player Premier Energies from promoters for Rs 2,291 crore through open market transactions.Following the stake purchase, shares of Premier Energies rose more than 3 per cent on Tuesday to Rs 1,017.90 apiece on the National Stock Exchange (NSE).Other foreign investors who participated in the transaction include the Canada-based Public Sector Pension Investment Board, Abu Dhabi Investment Authority and Al Mehwar Commercial Investments LLC, an affiliate of Abu Dhabi Investment Council.Abu Dhabi Investment Council is a sovereign wealth fund and wholly owned by global investment firm Mubadala Investment Company.Among domestic institutional investors, Quant Mutual Fund (MF), Bajaj Finserv MF, Bandhan MF, Canara Robeco MF, HDFC MF, and Kotak Mahindra MF also bought shares of Premier Energies.Insurance firms, including HDFC Life Insurance Company, SBI Life Insurance, and Kotak Mahindra Life Insurance, also participated in the transaction, according to the block deal data executed on Monday on NSE.The investors collectively purchased a total of 2,39,85,197 shares, representing a combined 5.29 per cent stake in Hyderabad-based Premier Energies.The shares were picked up at an average price of Rs 955 apiece, taking the combined transaction value to Rs 2,290.59 crore.Meanwhile, four promoters of Premier Energies -- Surenderpal Singh Saluja, Manjeet Kaur Saluja, Charandeep Singh Saluja and Jasveen Kaur Saluja -- offloaded the same number of shares, as per the data.After the latest transaction, the combined promoter holding in the company dropped to 58.65 per cent from 63.94 per cent.Last month, Premier Energies said it had secured orders worth Rs 2,577 crore in the fourth quarter of FY26 for the supply of 1,600 MW solar cells and modules.The execution of these orders is scheduled across FY 2027 and 2028, the company had said.The company's cell capacity is expected to touch 10.6 GW by September 2026, while its module manufacturing capacity recently expanded to 11.1 GW.
Nomura Asset, Capital Group, others buy 5.3% stake in Premier Energies for Rs 2,291 cr
Global financial institutions and Indian mutual funds have bought a 5.3 percent stake in Premier Energies. The deal involved promoters selling shares worth over Rs 2,291 crore. This investment comes as Premier Energies secured significant orders for solar cells and modules. The company is expanding its manufacturing capacities for cells and modules.
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