India's Premier Energies rises; 25 mln shares sold in discounted block deal on NSE

Premier Energies

10/06/2025 05:31

** Premier Energies PEME.NS rises 3.4% to 1,098.10 rupees; set to gain for third straight session

** Solar cell and module manufacturer's 25 mln shares traded in a block deal worth 26.29 bln rupees ($307.4 mln) at 1,051.60 rupees, a 1% discount to last close

** South Asia Growth Fund II Holdings likely to divest up to 25 mln shares of PEME, representing ~5.5% equity, through block deals, CNBC-TV18 reported, citing sources

** Reuters could not immediately ascertain the reason behind the stock's rise

** As on March 31, South Asia Growth Fund II held 11.1% stake in PEME

** YTD, PEME falls ~19%

($1 = 85.5360 Indian rupees)

 (Reporting by Vijay Malkar)

 ((VijayDattaram.Malkar@thomsonreuters.com;))