Premier Energies to Acquire 51% Stake in Transcon Ind Limited for Rs. 500.3 Crores

Premier Energies Ltd. has announced its decision to acquire a 51% stake in Transcon Ind Limited, a Hyderabad-based manufacturer and seller of transformers. The acquisition, valued at Rs. 500.3 Crores, is expected to be completed within 90 days of the execution of the Share Subscription & Shareholders’ Agreement. This strategic move aims to diversify Premier Energies' business into power transformer manufacturing, thereby bridging the gap between generation and transmission. The acquisition also creates strong operational and market synergies with Premier Energies' existing solar module manufacturing business, enhancing its ability to deliver integrated energy solutions and cross-sell products to a broader customer base.