Premier Energies Completes Acquisition of Transcon Ind Limited, Gaining 51% Stake

Premier Energies Ltd has completed the second and final tranche of the strategic acquisition of equity shares in Transcon Ind Limited (Target Company). The acquisition was made through a preferential basis private placement, with the Company acquiring 52,073 equity shares for a consideration of INR 250,30,97,037. Post-acquisition, the Company now holds 51% of the paid-up equity share capital of the Target Company. This acquisition has resulted in Transcon Ind Limited becoming a subsidiary of Premier Energies Ltd, and Neotrafo Solutions India Private Limited becoming a step-down subsidiary of the Company.