According to the term sheet accessed by CNBC-TV18, South Asia Growth Fund II will offload as much as 2.5 crore shares via the block deal, which amounts to 5.5% of Premier Energies’ outstanding equity.
The floor price of the block deal is set at ₹1,501 per share, which is a discount of 1% from Monday’s closing price. This takes the total transaction value to ₹2,628 crore.
Sources have told CNBC-TV18 that the block deal is likely to take place in the pre-open block window.
South Asia Growth Fund, the likely seller in the transaction, will also have a 150-day lock-in period for further sale of shares in the company.
According to the latest shareholding pattern available on exchanges, South Asia Growth Fund holds a 11.1% stake in the company.
Shares of Premier Energies had seen a sharp spike towards the close of Monday’s trading session and ended with gains of 2.5% at ₹1,080. The stock has more than doubled from its IPO price of ₹450.
However, shares are still down 20% so far in 2025 and 22% below its post-listing high of ₹1,388.
