GEF Capital Partners' Major Stake Divestment in Premier Energies

GEF Capital Partners sold a 5.55% stake in Premier Energies for Rs 2,629 crore via open market transactions. Following the sale, their stake reduced to 5.55%. Quant Mutual Fund and PI Opportunities AIF V acquired a combined 1.71% stake, with Premier Energies' shares rising 1.94% on the NSE.

In a significant market move, GEF Capital Partners divested a 5.55% stake in Premier Energies on Tuesday. The sale, conducted through open market transactions, reached a valuation of Rs 2,629 crore.

Premier Energies, known as a leading integrated solar photovoltaic manufacturer in India, saw its shares sell at an average of Rs 1,051.60 each. This transaction marked a reduction in GEF's holding from 11.10% to 5.55%.

The deal attracted Quant Mutual Fund and Premji Invest's PI Opportunities AIF V, who purchased a cumulative 1.71% stake. Premier Energies' stock price subsequently increased by 1.94% to close at Rs 1,082.80 on the NSE.

(With inputs from agencies.)