Ola Consumer plans IPO for funds as cash options run out
Source: Livemint
07 May 2026
Premier Energies Limited announced that its Board of Directors, at a meeting held on May 4, 2026, approved a second interim dividend of ₹0.75 per equity share (75%) for the financial year 2025-26. The record date for determining the eligibility of shareholders entitled to receive this dividend has been set as Saturday, May 9, 2026, based on names appearing in the Register of Members. The company had previously declared and paid a first interim dividend of ₹0.25 per equity share (25%) for the same financial year during the year ended March 31, 2026.
Dividend Payment and Shareholder Requirements
The interim dividend will be disbursed to shareholders through electronic mode, based on updated bank mandates registered in their demat accounts. Shareholders whose bank mandates are not updated will receive payment only after the relevant bank details are duly updated with their respective depository. Shareholders are requested to ensure their Permanent Account Number (PAN) is updated with the Company or KFin Technologies Limited (KFintech), the Registrar and Share Transfer Agent (RTA), on or before May 9, 2026.
The key details of the dividend declaration are summarised below:
Parameter: Details Second Interim Dividend: ₹0.75 per equity share (75%) Financial Year: 2025-26 Board Approval Date: May 4, 2026 Record Date: May 9, 2026 First Interim Dividend (Earlier): ₹0.25 per equity share (25%) Payment Mode: Electronic (via updated bank mandate) RTA: KFin Technologies Limited (KFintech)
TDS Provisions Applicable to Dividend Income
In accordance with the provisions of the Income-tax Act, 2025, as amended by the Finance Act, 2026, effective April 1, 2026, dividend declared and paid by the company is taxable in the hands of shareholders. Accordingly, Premier Energies is required to deduct tax at source (TDS) from the interim dividend at prescribed rates. The applicable TDS rate varies depending on the residential status of the shareholder and applicable exemptions, subject to fulfilment of documentary requirements.
No TDS shall be deducted on dividend payable to resident individuals if the total dividend to be received during financial year 2026-27 does not exceed ₹10,000. If any further dividend is distributed during financial year 2026-27 and the total dividend received by a resident individual shareholder exceeds ₹10,000, applicable TDS will be deducted on the gross amount of dividend, including past interim dividends.
TDS Rates by Shareholder Category
The following tables outline the applicable TDS rates for resident and non-resident shareholders:
Resident Shareholders
Category: Rate of Tax Alternative Investment Funds (AIF) – Category I & II: 0% National Pension Scheme: 0% Insurance Companies (registered under IRDAI): 0% Resident Individuals (dividend ≤ ₹10,000 or valid Form 121 furnished): 0% Other Residents (valid PAN): 10% Residents with lower deduction certificate u/s 395: As per certificate Residents without PAN / invalid PAN / specified person u/s 262: 20%
Non-Resident Shareholders
Category: Rate of Tax FII/FPI: 20% (plus applicable surcharge & cess) Specified Fund: 10% Other Non-Resident Shareholders: 20% (plus applicable surcharge & cess) Non-Residents with lower deduction certificate u/s 395: As per certificate Non-Residents entitled to TDS exemption: 0% Non-Residents with permanent establishment in India: 35% (plus applicable surcharge & cess)
Document Submission Deadline
Shareholders seeking lower or nil TDS deduction are required to submit the relevant supporting documents to the RTA at einward.ris@kfintech.com on or before May 9, 2026. Any document received for lower tax deduction or no tax deduction after May 9, 2026 will not be considered. Shareholders may submit Form 121 (for nil TDS under applicable conditions) and Form 41 (for non-residents claiming DTAA benefits) through the KFintech portal. The company will verify PAN status from the Income Tax Department's online functionality and deduct TDS accordingly.
Premier Energies ' wholly owned subsidiary, Premier Energies Global Environment Private Limited, has approved entering into a Share Subscription and Shareholders' Agreement (SSSHA) to acquire a minimum 26% equity stake in Hexa Energy BH Five Private Limited for ₹68.70 crore. The Board of Directors of the subsidiary approved the transaction on May 04, 2026. The acquisition is structured to be completed in one or more tranches via cash consideration, with an indicative timeline of 16 months from the date of execution of the agreement, subject to satisfactory completion of conditions precedent and closing conditions.
Deal at a Glance
The following table summarizes the key parameters of the proposed acquisition:
Parameter: Details Acquirer: Premier Energies Global Environment Private Limited (Wholly Owned Subsidiary) Target Entity: Hexa Energy BH Five Private Limited Stake to be Acquired: Minimum 26% Transaction Value: ₹68.70 crore Consideration Type: Cash Indicative Timeline: 16 months from date of agreement execution Regulatory Approvals Required: None Related Party Transaction: No
Purpose of the Acquisition
The proposed acquisition is intended to meet the energy requirements for captive power consumption of the subsidiary's Solar PV Cell Manufacturing Project at its manufacturing facility located in Naidupeta, Andhra Pradesh. Hexa Energy BH Five Private Limited is engaged in the generation and transmission of renewable energy, making it a strategic fit for supporting the subsidiary's manufacturing operations. The transaction does not fall under a related party transaction, and no promoter, promoter group, or group companies of Premier Energies have any interest in the entity being acquired.
About the Target Entity
Hexa Energy BH Five Private Limited is a company incorporated under the laws of India, with its registered office located at 8th Floor, Tower B, Vatika Business Park, Sector 49, Gurgaon, Haryana — 122018. The following table outlines the key details of the target entity:
Parameter: Details Name: Hexa Energy BH Five Private Limited Industry: Generation and Transmission of Renewable Energy Date of Incorporation: April 09, 2025 Authorized Share Capital: ₹15,00,000 Paid-Up Share Capital: ₹2,00,000 Registered Office: 8th Floor, Tower B, Vatika Business Park, Sector 49, Gurgaon, Haryana — 122018 Turnover (Last 3 Years): Not applicable
The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the relevant SEBI circulars.
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Source: The Financial Express
Source: The Economic Times
