Premier Energies Ltd has completed the first tranche of its proposed acquisition of Transcon Ind Ltd, acquiring a 34.21% equity stake for a consideration of ₹250 crore, the company said in a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
As part of the transaction, Premier Energies acquired 52,009 equity shares of Transcon Ind through a preferential allotment on a private placement basis. Following this tranche, the company now holds over one-third of the paid-up equity share capital of Transcon Ind.
The acquisition is being carried out in accordance with the Share Subscription and Shareholders’ Agreement signed on 23 October 2025 and subsequently amended. The agreement provides for a tranche-based acquisition structure linked to Transcon Ind’s capital expenditure requirements and the fulfilment of specified conditions precedent, with no change in valuation or the overall consideration.
Premier Energies had earlier disclosed plans to acquire a total 51% equity stake in Transcon Ind. As per the latest update, the tentative timeline for completing the remaining tranche has been revised to 20 February 2026, subject to the conditions set out in the amended agreement.
The company added that it received intimation of the completion of the first tranche from Transcon Ind on 24 December 2025.
