Acquisition

Listed Co AcquisitionStrategic Transactions View source PDF

PREMIERENE · price

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Price reaction · full curve 14 horizons · vs prior close

-0.8%1-day move

₹1035.90

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₹1030.00

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AI summary

Premier Energies' wholly-owned subsidiary, Premier Energies Global Environment Private Limited, has entered into a Share Subscription and Shareholders' Agreement to acquire a minimum 26% equity stake in Hexa Energy BH Five Private Limited for INR 68.70 crore. The target entity is a newly incorporated company (April 2025) engaged in generation and transmission of renewable energy, based in Gurgaon. The acquisition is intended to secure captive power supply for the subsidiary's Solar PV Cell Manufacturing Project at Naidupeta, Andhra Pradesh. The transaction is not a related party deal and will be funded through cash consideration. Completion is expected within 16 months subject to conditions precedent.

Likely market impact

This acquisition strengthens Premier Energies' backward integration by securing reliable renewable energy for its solar manufacturing operations, potentially reducing power costs and ensuring energy security for its Naidupeta facility. The INR 68.70 crore investment represents a strategic capex move aligned with the company's clean energy manufacturing expansion.